TechPression

Tag: Blockchain

  • Tether and Quidax collaborate on blockchain education in Africa

    Tether and Quidax collaborate on blockchain education in Africa

    On Wednesday, Africa’s top cryptocurrency exchange, Quidax, announced a partnership with Tether, the biggest player in the digital asset market.

    This collaboration, starting in Nigeria and Ghana, seeks to improve blockchain education in Africa by educating users about stablecoins and Bitcoin. With this partnership, Quidax and Tether hope to equip more than 15,000 individuals and companies with the skills they need to take advantage of digital assets.

    Read also: Zap Africa and Paystack clash over trademarked name ‘Zap’

    Enhancing Blockchain Literacy Across Africa

    The collaboration will include financial literacy campaigns, thought leadership, interactive workshops, and community engagement efforts designed to equip users with the knowledge to navigate the digital asset ecosystem safely and effectively.

    Stablecoins like USDT play a crucial role in financial inclusion by providing stability amid currency volatility and enabling seamless cross-border payments.

    “With rising interest in digital assets across Africa, stablecoins like USDT provide a reliable way for people to store value and conduct business transactions with ease,” said Buchi Okoro, CEO of Quidax. “Collaborating with Tether allows us to bridge the knowledge gap and drive broader education of cryptocurrency in a way that benefits everyday people.”

    “At Tether, we are committed to fostering financial education and empowering communities with the tools they need to navigate the digital economy. Africa is at the forefront of blockchain adoption, with Ghana and Nigeria among the most prominent emerging markets. Through this collaboration with Quidax, we aim to give individuals and businesses the knowledge to leverage digital assets consciously. By collaborating on financial education, we are laying a foundation for a more inclusive and accessible financial ecosystem,” said Paolo Ardoino, CEO of Tether.

    Read also: First Atlantic Bank wins Best Mobile App of the year at Ghana Fintech Awards 2025 (Full List of Winners)

    Quidax and Tether are working toward a more inclusive financial ecosystem by fostering financial literacy and expanding access to digital assets education.

    The initiative educates members through financial literacy campaigns, interactive workshops, and thought leadership activities. The cooperation provides hands-on community participation to allow people to make decisions about the digital asset ecosystem.

  • Solana marks 5th anniversary, reaching over 400 billion transactions since launch

    Solana marks 5th anniversary, reaching over 400 billion transactions since launch

    On March 16, 2025, Solana, the high-performance blockchain platform, celebrated its fifth anniversary since the creation of Block 0.

    Since its launch in March 2020, the prominent blockchain platform has emerged as a key player in the blockchain ecosystem, renowned for its high-speed transactions and low fees.

    Read also: Solana’s SIMD-0228 inflation proposal collapses as smaller validators rebel

    A journey of growth and innovation

    In a post on its official X handle, Solana highlighted its achievements: “Happy 5th birthday, Solana fam! 408+ billion transactions. 1,300+ validators. $987+ billion volume.” The platform also announced a special celebration at America’s biggest crypto conference in New York City this May. “This year, we celebrate in style — with America’s biggest crypto conference coming to NYC in May”

    Co-founder Raj Gokal reflected on Solana’s early days, recalling the global lockdown in 2020. “If we could launch then, you can launch now,” he said, encouraging innovators to pursue their visions. Anatoly Yakovenko, another co-founder, added, “Everything is going according to plan,” emphasising the crypto company’s impressive growth.

    Today, Solana boasts over $8.5 billion in total value locked (TVL) in DeFi protocols, securing its position as the second-largest blockchain after Ethereum.

    Notably, Solana’s fee efficiency and revenue generation outpace Ethereum by two to three times. The native token, SOL, has also seen noteworthy growth, currently valued at $65.5 billion, with its market cap peaking at $127.5 billion earlier this year.

    Read also: Bitcoin drops below $91,000 amid market turmoil and legislative setbacks

    Overcoming challenges and building the future

    Despite its successes, Solana has faced challenges, including network outages and market volatility. However, the team has consistently worked to improve stability and scalability. “Every challenge has been an opportunity to learn and grow,” Yakovenko noted.

    As Solana enters its sixth year, the focus remains on expanding its ecosystem and enhancing user experience. With over 2,500 projects, including Serum, Raydium, and Magic Eden, Solana continues to drive innovation in DeFi, NFTs, and Web3.

    “The best is yet to come,” Gokal remarked, underscoring Solana’s commitment to shaping the future of decentralised solutions. As the blockchain industry evolves, Solana remains at the forefront, celebrating its past achievements while paving the way for a brighter future.

  • Solana’s SIMD-0228 inflation proposal collapses as smaller validators rebel

    Solana’s SIMD-0228 inflation proposal collapses as smaller validators rebel

    On Thursday, a proposal to reform Solana, a high-performance blockchain network, hit a snag after SIMD-0228 failed to secure the supermajority votes needed for implementation.

    The proposal, which aimed to replace Solana’s static 4.7 percent inflation rate with a dynamic system, faced strong opposition from smaller validators, preventing what could have been a drastic reduction in staking rewards.

    Read also: The Rise and Fall of Solana’s Valuation After $DAVIDO’s Entry

    High-stakes battle over inflation

    The failed proposal raised intense debate within the Solana ecosystem. Stakeholders, including major investors and influential validators, argued that reducing staking rewards would stabilise SOL’s price by limiting token supply.

    “Fewer emissions mean less selling pressure,” said Max Resnick, an economic researcher at Anza Labs and a co-author of the proposal.

    However, opposition from smaller validators proved decisive. Many feared that a drastic reduction in staking rewards would undermine their revenue, potentially forcing them out of operation.

    “This was rushed and didn’t fully consider the impact on smaller operators,” said SolBlaze, a validator operator who opposed SIMD-0228.

    Moreover, the vote saw one of the highest turnouts in Solana’s history, with over 66 percent of validators participating and collectively wielding 75 percent of the network’s voting power. According to blockchain analytics, 60 percent of validators with less than 500,000 SOL opposed the proposal, while 60 percent of larger validators voted in favor.

    This divide raised concerns over decentralisation, as many warned that cutting staking rewards could consolidate power among wealthier validators.

    “Many feared this would drive out smaller participants, making Solana more centralized,” said Jonny, the operator of Solana Compass.

    However, despite this setback, advocates for economic reform are not backing down. “We are going to chat with the ‘no’ voters and find a compromise,” Resnick said, hinting at future proposals with broader community input.

    For now, Solana’s high staking rewards continue to shape the network’s economic system amid ongoing debates over sustainability and decentralisation.

    Read also: Could a Trump mention ignite Pi Coin? Experts predict a potential 200% price surge

    About Solana

    Solana is a high-speed, low-cost blockchain known for its Proof of History mechanism, scalability, and smart contract functionality.

    The blockchain platform was founded in 2018; It powers decentralised finance (DeFi), NFTs, and decentralised applications.

  • StarkWare paves way for African blockchain growth with $4 million fund

    StarkWare paves way for African blockchain growth with $4 million fund

    StarkWare, an Israeli blockchain company valued at $8 billion, launched a $4 million fund on Thursday to support blockchain startups in Africa. 

    The fund will focus on pre-seed and seed-stage startups in West, South, and East Africa, particularly those building on StarkNet, StarkWare’s Ethereum-based decentralised application platform.

    Read also: Binance Labs rebrands to YZi, expands beyond crypto to focus on AI, biotech

    StarkWare’s $4 million fund

    The fund, led by Kheireddine Kamal, an African entrepreneur and investor, will provide grants of up to $150,000, with potential for further investment up to $500,000 for promising projects. 

    StarkWare is looking for startups with technical expertise and local business insight, especially those in countries facing high inflation, unstable exchange rates, or low financial inclusion. 

    Kamal stated, “We are looking for projects in African countries that have economic conditions such as high inflation, unstable exchange rates, or low financial inclusion, with a local population interested in blockchain”.

    Boosting blockchain startups in Africa

    To be eligible, startups should have teams of one to five members committed to developing real-world products exclusively on Starknet and should have moved beyond the ideation stage. 

    The fund will prioritise Francophone startups in West and Central Africa, East Africa, Nigeria, and Ghana. 

    Read also: The Gambia partners with Kalp to develop blockchain-powered Digital Public Infrastructure platform

    Eli Ben-Sasson, StarkWare’s CEO, emphasised the company’s vision, stating, “Blockchain presents a unique opportunity for many parts of Africa to leapfrog outdated infrastructures and democratise access to financial tools with more decentralisation and transparency”. 

    StarkWare aims to support blockchain-based financial solutions that bypass traditional banking systems, leveraging the continent’s youthful population and increasing crypto usage. 

    Kamal also noted the long-term potential of StarkNet in Africa, saying, “StarkNet is a particularly interesting path to blockchain, as it is currently a Layer 2 over Ethereum and plans to also operate over Bitcoin”. 

    StarkWare believes Africa is ripe for blockchain adoption, given the expected surge in digital financial transactions in the coming years.

  • The Gambia partners with Kalp to develop blockchain-powered Digital Public Infrastructure platform

    The Gambia partners with Kalp to develop blockchain-powered Digital Public Infrastructure platform

    The Kalp Foundation, a non-profit organisation, announced its partnership with The Gambia to develop a blockchain-powered Digital Public Infrastructure (DPI) platform called Gambia One on Tuesday.

    This collaboration, which is the first of its type in the world, aims to advance government leadership capacity-building projects and youth skill-building programs in the blockchain and associated technology ecosystem in the Gambia.

    Read also: Binance customer fund deposits hit $21.6 billion in 2024: Report

    Through this collaboration, the Kalp Foundation will be able to lead The Gambia’s inclusive development program with its blockchain-based decentralised DPI, Gambia One, an application that makes use of Kalp Blockchain’s capabilities to facilitate safe data sharing, expedite government processes, digitise vital services, and much more.

    The government of The Gambia wants to empower marginalised people, close the digital gap, and develop scalable solutions that comply with international ethical and regulatory norms, according to the official statement.

    “We are deeply honoured to collaborate with The Gambia in its journey towards becoming a future-ready nation powered by a robust blockchain-driven digital ecosystem. This groundbreaking initiative showcases Kalp Foundation’s commitment to delivering scalable, compliant, and transparent solutions that empower governments to modernize processes, improve citizen services, and drive equitable growth,” stated Tapan Sangal, Founder and Director of Kalp Foundation on Tuesday.

    Initiative to be expanded internationally

    The Kalp Foundation plans to expand this concept internationally and has other collaborations in the offing to change the digital environment by emphasising innovation, inclusion, and compliance.

    The Minister of Communications and Digital Economy (MoCDE), Hon. Lamin Jabbi, emphasised the significance of this partnership by saying, “The Gambia welcomes Kalp Foundation’s vision and expertise in fostering an inclusive digital ecosystem.”

    Read also: Yellow Card targets Nigerian crypto market with SEC approval

    “Together, we will harness the power of blockchain-enabled DPI to deliver innovative, citizen-centric solutions that align with global standards of trust, transparency, and accountability. This initiative is a testament to our commitment to building a brighter, more inclusive future for our nation,” he added.

    According to the statement, this partnership with The Gambia is a step towards a time when technology unites people, strengthens communities, and promotes sustainable development between countries.

    “This partnership represents a significant leap forward in The Gambia’s digital transformation,” said Hassan M. Jallow, Permanent Secretary, MoCDE, concurring with the view.

    “By leveraging Kalp Blockchain’s groundbreaking technology, we are setting a benchmark for how nations can unlock their full potential through innovation and collaboration,” he noted.

    For the regulated tokenisation and subsequent liquidity of RWAs and real-world use cases, the Kalp ecosystem is a method that provides a full, decentralised, and regulatory-compliant Digital Public Infrastructure.

  • Ajé sets new standard for secure online trade with Blockchain and AI, gaining 7,500+ users in 1 year

    Ajé sets new standard for secure online trade with Blockchain and AI, gaining 7,500+ users in 1 year

    Ajé, a Nigerian startup founded by Oluwaseun Odukoya, has made impressive strides in the digital trade, onboarding over 7,500 users within 12 months. 

    This accomplishment highlights Ajé’s blockchain-powered platform’s objective to boost online commerce trust, which was announced on Friday.

    Read also: Ozi targets parcel delivery market with blockchain

    Strategic partnerships

    Ajé has formed strategic partnerships with notable organisations such as Startupbootcamp, Microsoft Azure, and ALX. 

    These partnerships confirm Ajé’s technology and position the company for development.

    Odukoya says, “These partnerships are crucial for scaling our operations and enhancing our platform capabilities,” reflecting the startup’s commitment to leveraging external expertise to improve user experience.

    The partnerships enable Ajé to integrate advanced technological solutions into its platform, such as AI-driven dispute resolution and enhanced security measures. 

    This focus on innovation is vital in a market where trust remains a significant barrier to online commerce.

    As Ifeoluwa Wole-Osho, CEO of Ajé, stated, “Trust remains one of the largest barriers to the growth of online commerce in emerging markets.”

    Read also: JADA’s vision to build a world-class AI workforce in Africa

    Empowering Users

    Ajé is a blockchain-based social commerce platform that enables secure transactions. It offers key features such as a secure escrow service, multi-currency wallets, and effective dispute resolution tools.

    These features empower individuals and businesses to transact safely and transparently across emerging markets.

    The startup has completed over 1,000 escrow-protected transactions and has seen a 32 per cent month-over-month increase in repeat engagement. This rapid growth highlights Ajé’s appeal to users who seek secure and frictionless trade experiences. 

    Odukoya emphasised the importance of community feedback in shaping Ajé’s features: “We listen to our users and adapt our services to meet their needs,” showcasing the startup’s dedication to user-centric innovation.

    Ajé is preparing for a $500,000 pre-seed funding round to scale operations and enhance its platform, aiming for 1 million transactions by 2026 to strengthen its position in Africa’s digital commerce.

  • NIBSS and Zone leverage blockchain to enhance Nigeria’s inter-bank POS transactions

    NIBSS and Zone leverage blockchain to enhance Nigeria’s inter-bank POS transactions

    Zone Payment Network Limited partners with NIBSS Plc to transform Nigeria’s POS payments, leveraging blockchain technology to overcome payment system challenges.

    This collaboration complies with CBN’s PTSA requirements, aiming to create a seamless, transparent, and efficient payment process that reduces costs and financial losses for banks and financial institutions.

    NIBSS CEO Premier Oiwoh emphasised that these collaborations mark a breakthrough in their quest to revolutionise the payment system through innovation and efficiency.

    He further noted that this strategic partnership seeks “optimised operational efficiency, reduced costs, and expanded financial inclusion,” propelling Nigeria to a leading position in the global payment system.

    Read also: Nigeria plans to teach 1,000 youth AI and Blockchain annually

    How to leverage blockchain for secure transaction processing

    By leveraging blockchain technology, the decentralised card routing system allows banks and fintech companies to efficiently process transactions between POS terminals and cardholder banks while maintaining compliance with CBN regulations.

    This secure and reliable approach strengthens the POS transaction ecosystem, promoting trust and confidence in digital payments.

    Blockchain-powered card routing systems enable decentralised payment processing, allowing POS terminals to transact directly with cardholder banks. This distributed architecture bypasses traditional centralised hubs, leveraging the security and scalability of blockchain technology to facilitate fast, secure, and reliable transaction processing.

    This strategy enhances security, speeds up transaction processing, reduces costs, and ensures regulatory compliance by recording and verifying each transaction on a secure ledger.

    Read also: Crypto startups secured $2.7 billion in funding in Q2 despite fewer deals

    NIBSS and CBN Regulatory frameworks for contactless payments

    The Central Bank of Nigeria (CBN) has established regulatory frameworks for contactless payment solutions, leveraging its statutory authority under the Central Bank of Nigeria Act, 2007, and the Banks and Other Financial Institutions Act, 2020.

    These guidelines establish a foundational framework for implementing and operating contactless payment systems in Nigeria, ensuring a standardised baseline for security, interoperability, and user experience.

    Payment Terminal Service Providers (PTSPs), licensed by the CBN, are responsible for deploying contactless payment-enabled terminals, such as point-of-sale (POS) terminals. These providers must ensure the terminals’ quality and functionality through regular maintenance and offer 24/7 support. They are expected to address any repair or replacement issues within 48 hours of being notified.

    NIBSS, Nigeria’s sole Payment Terminal Service Aggregator (PTSA), manages the interconnectivity of all payment terminals, ensuring brand-agnostic devices accept cards from any bank or licensed scheme.

    NIBSS standardises technical specs and implements risk management for contactless payments.

  • Nigeria plans to teach 1,000 youth AI and Blockchain annually

    Nigeria plans to teach 1,000 youth AI and Blockchain annually

    The Nigerian Government has unveiled an initiative to train 1,000 citizens annually in artificial intelligence, blockchain, and other innovative technologies.

    As part of Nigeria’s plan for digital transformation and leadership in Africa, Vice President Senator Kashim Shettima of Nigeria launched the AI Expertise Blockchain and Technology Training and Outsourcing Initiative on Tuesday in Dutse, the capital of Jigawa State, Nigeria.

    The Nigerian government is partnering with a private tech company, Gluwa, to drive the programme. Speaking during the launch, Shettima called on African youths to embrace the initiative, which he said is essential for the nation’s economic future.

    Read also: Nigeria’s focus on AI, IoT, and blockchain

    Building a global workforce, he said, while acknowledging that Nigeria is on track to go above other African nations in terms of technology with its present projects.

    He added that they are not merely catching up with the rest of the world but are poised to overtake them. This initiative offers its beneficiaries the chance to become part of a global workforce, driving innovation that will shape our future.

    Partnership for African Digital Economy and ICT Outsourcing

    Shettima praised the partnership with Gluwa, saying it aligns with President Tinubu’s plan to transform Nigeria’s digital technology industry. Even as he praised Gluwa for enabling Aella Microfinance Bank to disburse over N100 billion to two million Nigerians, he acknowledged the company’s noteworthy influence.

    Shettima addressed the Initiative’s global implications, saying their goal is to establish a model that brings together local talent and global expertise to make Nigeria a leading destination for technology outsourcing.

    Jigawa State Governor of Nigeria, Malam Umar Namadi emphasised the importance of ICT outsourcing for youths, urging them to explore this opportunity for job creation and economic growth.

    Establishing a new ICT & Digital Economy Agency, noting that the State Government is determined to reposition Jigawa as a significant ICT hub in Nigeria.

    Read also: African Teen Tech Festival 2.0 empowers emerging creatives with digital innovations

    Developing Africa’s Tech Talent through Government Programs

    The government has announced several programs to increase African Capability in emerging technologies, and the latest one is to train 1,000 people there each year.

    The Nigerian government emphasised the rare opportunity for youths to participate in the Digital World of ICT Outsourcing, promoting job creation and economic growth.

    It was added that the research focus areas for NITDA include IoT, blockchain technology, uncrewed aerial vehicles (UAV), additive manufacturing, AI, and robotics.

  • Nigeria’s focus on AI, IoT, and blockchain

    Nigeria’s focus on AI, IoT, and blockchain

    The National Information Technology Development Agency (NITDA) of the Federal Government has declared its intention to create research centres for innovative technologies in each of the six geopolitical zones of the nation, including blockchain, Internet of Things (IoT), and artificial intelligence (AI).

    This was revealed on Tuesday by NITDA Director-General Kashifu Inuwa during his keynote address at the IoT West Africa Conference’s opening in Lagos. He claims that this is consistent with one of the agency’s priorities for creating a solid ecosystem for technology research.

    Kashifu also said that the research focus areas for NITDA include IoT, blockchain technology, uncrewed aerial vehicles (UAV), additive manufacturing, AI, and robotics.

    Read also: Sonia’s AI chatbot redefines therapy

    Nigeria’s Talent Boost with 3MTT Initiative

    Along with supporting research in these fields, NITDA announced it will help Nigerian companies create products based on cutting-edge technologies.

    In addition to assisting the federal government’s 3 Million Technical Talent (3MTT) programme, the NITDA DG is essential in developing talent through other technological development agency projects.

    NITDA’s Director of Corporate Planning and Strategy, Aristotle Onumo, who represented Kashifu at the event, said that they are establishing a special-purpose vehicle that is going to look into these critical areas and also establish research centres across the six geo-political zones of Nigeria that will be targeting these six critical areas of emerging technologies.

    He added that they want to encourage development and have innovation sandboxes where they can support and encourage those with ideas to develop use cases. Through that, they can help them stand, help them to create businesses, and take them to market.

    The goal is to train and empower three million Nigerians by 2027, contributing to talent exports and foreign exchange through increased remittances.

    Nigeria Leads Africa’s Digital Revolution

    According to Shitij Taneja, the Managing Director of Vertex Next, the company that organised the IoT West Africa conference, Nigeria was selected to host the event due to its reputation as “Africa’s next Silicon Valley.” According to him, Nigeria is a technological development powerhouse in Africa because of its sizable youth population and thriving startup ecosystem.

    Read also: How Ziki Uses AI to Tailor Education for every Student

    Nigeria’s IoT market is expanding due to increased data centre investments, attracting investors to invest in Nigerian startups focusing on emerging technologies.

    IoT West Africa showcases emerging technologies and the telecoms industry’s role in economic growth and digital transformation. Lagos is a host city intertwined with Nigeria’s rapid development of technology, infrastructure, and digital economy.

    Through digital innovation, the telecoms sector is changing the business environment in West Africa, especially for small and medium-sized businesses involved in manufacturing, technology, and agriculture.

  • Exploring the World of ViitorCloud’s AI, Blockchain & Web Development

    Exploring the World of ViitorCloud’s AI, Blockchain & Web Development

    ViitorCloud stands out as more than just a typical tech company. It serves as a centre for innovation and creativity. ViitorCloud was founded with a vision to transform businesses through technology. 

    ViitorCloud has quickly become a leader in providing cutting-edge solutions. They are leading the tech revolution, covering AI, machine learning, blockchain, and web development.

    Read also: Experts suggest a tech-driven approach to tackle climate change

    What makes ViitorCloud stand out?

    What sets ViitorCloud apart from its competitors in the technology market? Quality, innovation, and client satisfaction are ViitorCloud’s top priorities. They excel at creating software that promotes growth and efficiency, all while delivering exceptional user experiences. ViitorCloud offers a wide range of solutions to meet the needs of startups and established organisations. 

    ViitorCloud’s range of cutting-edge solutions

    To fulfil the demands of various businesses, ViitorCloud offers a wide range of services. Their deep knowledge of machine learning and artificial intelligence helps organisations by empowering them to make better decisions. Envision a system that comprehends your data, anticipates patterns, and streamlines procedures. It’s very cool.

    Moreover, they have made substantial advancements in the field of blockchain technology. ViitorCloud provides robust blockchain solutions to help businesses protect their data and transactions as the global community adopts decentralised systems. Suppose you are interested in web development. Their team of professionals can design remarkable, user-friendly websites that have an appealing appearance and demonstrate outstanding performance. 

    ViitorCloud’s impact is truly inspiring. They have assisted companies in streamlining their operations, reducing costs and improving productivity. AI solutions have helped businesses provide personalised experiences to customers, resulting in increased satisfaction and loyalty.

    Read also: Vertiv Launches AI Hub for AI Adoption

    We should also pay attention to their impact on the blockchain industry. They help businesses build trust with their clients by implementing secure and transparent blockchain solutions, which is crucial in today’s digital age.

    ViitorCloud is powered by a dedicated team of professionals passionate about tech and innovation. They value collaboration and work closely with clients to understand their needs and provide tailored solutions. This human touch makes ensuring that technology serves the people and not the other way around possible.

    ViitorCloud has a promising future ahead. They constantly push the boundaries of what is possible and are poised to introduce even more innovative solutions. They are dedicated to maintaining high standards of excellence and constantly pushing the boundaries of innovation. They are firmly established in their field.