Technology - Afrikan Heroes

Eight Tech Trends to Watch in 2021

January 14, 2021

Technology will first make some buzz before becoming the norm. Here are some of the trends we will likely see in 2021. 2020 was anything but a lull. The COVID-19 pandemic exposed vulnerabilities in our society and formed many pockets of crises that called for rapid digitalization to deploy quick fixes. With vaccines on the horizon, the world is poised to restart and climb back up, and we rely on technology more than ever to deliver more permanent solutions.

As such, technology will first make their buzz before becoming the norm. Here are some of the technology trends we will likely see in 2021.

“Yes, we can hear you.”

With telecommuting becoming a default in 2020, we saw a rise in demand for seamless experiences in virtual meeting rooms. Many employees will find value in great gear such as high quality headsets and microphones. When you’re wearing pajamas to work, visual presence is not as important. But audio quality must be in top shape as communicability is the anchor of any work-from-home setup.

Podcast-quality mics will be one of the most popular cart items this coming year.

It’s now or never for 5G

Aside from socio-economic inequalities, COVID-19 exposed the oft-ignored fact that Internet connectivity in the Philippines can still be expensive and sometimes disappointing. We’ve relied on the Internet as an aid in educating the children and keeping both public and private sectors from completely shutting down.

Designing a greener future

With this dramatic shift to digital, there will be further push to expand 5G coverage, as well as other modes of connection to more remote places.

Boost in efforts for infodemic management

We’ve been in an infodemic long before COVID-19 and it only turned for the worse in 2020. There is a lot of fear to feed on and the lack of a full picture of the virus only enabled speculation to get blurred in with facts.

Unlike COVID-19, there is no vaccine for fake news, but 2021 is a prime year to introduce more creative efforts to eliminate not only its dissemination, but perhaps its creation and publication.

Improved customer experiences in digital banking

With the accelerated migration to digital finance, we can expect banking systems to opt for more robust security provisions. With open banking shaping up in the Philippines, there is just no room to let fraud and data losses and breaches run with the rise.

Digital banking shows no signs of slowing down. Though many may have found themselves forced into it, there’s no reason to halt its momentum. We’ve yet to meet a person who says they miss queueing or looking at printed passbooks. Moreover, this enabled anyone to venture into e-commerce and small businesses when they needed to.

It’s also important to note that digitization can make banking more accessible to people with disabilities, as well as financially empower people living in rural areas with no banking solutions. Expect financial institutions to roll out more optimized and personalized experiences for their customers.

New wearable in personal air purifiers

Environmentalists have rallied about it for decades but no one predicted that 2020 was the year that humans collectively clamored for clean air. COVID-19 had elicited fear that the very air we breathe in will make us sick.

Personal air purifier necklaces are like magical amulets that clean the air within a certain radius of you. While there’s no proof that these are able to fully remove particles such as coronaviruses, there’s some comfort in knowing that you’re not breathing in dust and other vague pollutants that may be out there. A must-have, at least, for allergy sufferers.

Wireless charging and other simplifications

The smartphones of 2021, aside from having even better cameras, will push to make wired charging a thing of the past. Flip and foldable phones were received well this year, and based on the lineup of new phones for next year, smartphone companies will still be riding this wave.

Sanitizing for sanity

We may be on our way back to being a mobile and outgoing society, but at least now we have all seen Contagion. Our newfound knowledge on fomites compels even the most carefree of us to shine a UV light over high-touch surfaces. Portable UV wands have been popular among parents and immunocompromised people with a need to keep germs to a minimum. And now, many people have adopted this technology in their homes to sanitize incoming objects and we won’t be surprised if it extends to a handbag staple.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

How Technology is Recreating the Offline Retail Experience Online

January 1, 2021

As the COVID-19 pandemic catalyses the move to eCommerce, new technologies are attempting to bridge the gap between offline and online retail by offering rich and immersive experiences that replicate in-person shopping and redefine how people experience online shopping. In brick and mortar stores, consumers are able to try, touch, and fully experience products before purchasing them, something eCommerce has until now, failed to replicate.

But, immersive technologies like augmented reality (AR), 360° video, 3D content and virtual reality (VR) are proving to be the next frontier in eCommerce, providing shoppers with greater purchasing certainty, personalization, and control over the digital shopping experience.

A recent report by Accenture echoes these sentiments, saying immersive experiences provide accessibility and tangibility, translating into confidence that a product will meet expectations.

It also found immersive technology can boost consumer confidence in an online purchase by 4% globally. The same report found 64% of leading consumer brands are starting to invest in immersive experiences.

Derek Cikes, Commercial Director at buy now pay later fintech Payflex, says the pandemic has signalled a tipping point when it comes to consumer expectations, accelerating demand for more personal, sensory, and richer online experiences.

“Immersive digital touchpoints are playing an instrumental role in the modern customer journey and are eliminating one of the biggest barriers to eCommerce adoption – the inability to see, touch and experience products in person. These technologies are enabling retailers to bring the rich, interactive elements associated with in-store shopping to the world of eCommerce, allowing consumers to shop online without sacrificing purchasing confidence.”

Derek says the keys to immersive technologies opening the door to the next wave of eCommerce include:

3D visualisation technology

3D visualisation technology enables a customer to interact with a three-dimensional digital version of a product without them having to walk into a store, providing an accurate portrayal of fit and size.

“3D visualisation is a critical tool for helping shoppers resolve key questions about product size, style, and dimensions. The ability to zoom in and examine products from every angle is especially useful, as it can highlight a product’s finer details like buckles, zips and fabric texture.”

Augmented Reality

Augmented reality can provide significant value for consumers in the digital shopping journey, enabling them to virtually ‘try on’ or test out clothing, furniture, and beauty without physically touching the products.

“Once a nice-to-have feature, AR has fast emerged as an essential technology for retailers in the post-COVID-19 environment. With hygiene and safety a top priority for retailers, they are increasingly turning to AR to help customers digitally try on or test products to assist in buying decisions.”

Digital Assistants

From Amazon’s Alexa to Apple’s Siri and Google Now, digital assistants have become powerful customer service tools, enabling retailers to effectively solve customer concerns and issues without human intervention.

“Shoppers want help, advice, and guidance throughout the decision-making process. The touchless, voice-driven shopping experience offered by digital assistants enables immersive and interactive experiences that brands can then tailor to the consumer’s individual tastes and preferences. Voice technology means typing your pin on a point-of-sale machine or even getting out your smartphone, will no longer be necessary to go shopping in the near future.”

Seamless Payments

As the COVID-19 crisis continues to shape the way consumers spend their money, smart technology is making payment experiences even simpler by allowing consumers to bypass the traditional payment experience altogether with alternative and flexible payment methods.

“If immersive technology is going to successfully replicate physical experiences, the integration of flexible and alternative payments into the process is going to be essential.”

Immersive technology is the future

The face of retail and how consumers shop has arguably changed forever, pushing retailers to fundamentally reimagine their online presences beyond the purely functional.

Derek says as immersive technologies solve some of the persistent pain points associated with online shopping, it is fast expected to become a vital tool to engage consumer confidence and heighten the online customer journey in the post-pandemic retail landscape.

“Immersive technology’s ability to provide storytelling, richer product information and greater interaction, means the next frontier in eCommerce is now possible.”

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Rwanda Coding Academy Receives $150,000 From AfDB

November 11, 2020

The Rwandan Ministry of Information Communication Technologies and Innovation has been awarded a grant of $150,000 by the African Development Bank (AfDB). This amount is dedicated to the Rwanda Coding Academy (RCA). It is a structure whose goal is the development of leading technological talents.

RCA welcomes high school students eager to pursue careers in coding and computer related trades. It provides them with lessons that can promote the acquisition of current skills. The stake is the stimulation of the digital economy which the government wants more and more dynamic.

AfDB Rwanda Coding Academy AfDB Rwanda Coding Academy

The $150,000 comes from the Rockefeller Trust Fund, which is administered by the AfDB. It will be used to finance several activities, including the purchase of computers and furniture for a modern innovation center. It is dedicated to excellence, connectivity, training of trainers and organizing career counseling appointments.

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer

How Technology Affects Economic Growth and Why It Matters for Policymakers

September 25, 2020

Andrea O’Sullivan

Technology is something to resist. Whether it foments antisocial behavior, cultural polarization, or wide-scale labor disruptions, technological change is a frustrating and perennial struggle facing society. The benefits largely accrue to a few oligarchs. More existentially, digital technologies rob us of our humanity, as automation and machine learning becomes a dangerous master we must serve.

At least, that’s the woeful impression you may get from some critics. Given this bleak view of affairs, it’s a wonder that anyone tolerates modern technology at all. Why allow such traumatic social shifts if nothing worthwhile comes of it?

It is true that antipathy to technological change animates many proposals for limitations or outright bans on certain applications of technology. Yet apart from a few odd countries, no governments prohibit technological innovation altogether. Why?

The truth is that many people realize that technological innovation, economic growth, and overall human wellbeing are intricately linked and that stemming our innovative capacity means handicapping our potential to progress. If we don’t allow some disruption today, then our overall quality of life will be much lower tomorrow.

Economists have tried to better understand the relationship between innovation and growth for decades. A new paper by Mercatus scholars James Broughel and Adam Thierer assembles the literature on growth theory and accounting to paint a picture of just how important technology is to long-term growth.

How We Know How to Grow

Interest in measuring and modeling the sources of economic growth increased among economists in the mid-20th century. In 1956, Robert Solow introduced what is now called the “Solow growth model,” which tries to explain economic growth using a nation’s stock of labor and capital, plus a generic technological change variable that was assumed to grow automatically. The model predicted that countries with a smaller capital stock—like underdeveloped or war-recovering countries—would grow faster in the short term than better-capitalized countries. But long-run prosperity hinged on technological change.

Just how potent is technological change? Solow’s model inspired a new field in economics called growth accounting, which attempts to empirically measure the things that stimulate economic growth. Solow estimated that almost 90 percent of US output came thanks to technological change; other studies found effects of similar magnitude.

But these early studies were a bit limited by the fact that they did not measure innovation per se. Rather, they estimated total factor productivity (TFP), which is a broader concept. TFP is a measure of a nation’s output that cannot be explained by measured inputs like labor and capital. So it includes things like scale efficiency improvements that are not new “innovations.”

Later, more fine-tuned analyses estimated that anywhere from one to two-thirds of economic growth comes from innovation. While there remains considerable uncertainty about the underlying causes of innovation, the consensus view today is that innovation is a key driver of growth.

A major limitation of Solow’s model was the assumption of automatic technological change. In more recent years, “new growth theory” has sought to explain the process of technological change that drives growth. This body of work, spearheaded and popularized by Nobel laureate Paul Romer, seeks to explain how and why businesses innovate by examining its components. In particular, ideas and new discoveries are important sources of growth in this modern class of economic growth models.

While Solow’s model saw little role for policy in stimulating or slowing growth, models like Paul Romer’s suggest just the opposite. Policies that encourage experimentation, learning, human capital accumulation, and risk-taking can pay huge dividends in the form of future economic growth.

GDP Isn’t Everything

A bit of a caveat is in order. While it is true that the weight of the economic evidence suggests innovation and economic growth are connected in important ways, there are limitations to how we can measure economic progress.

The most popular measures of economic growth are based on changes in gross domestic product (GDP), or national production. While GDP accounts for the value of final goods and services traded within the US during a particular period of time, it does not include certain important, but hard-to-measure, quality-of-life considerations like leisure time, household production, and environmental effects.

GDP also has difficulty accounting for quality improvements, which is a major form of innovation. The appliances and tools that we use today are much more efficient and capable than the ones our grandparents used. While some adjustments are made to “GDP” to try to account for how, say, ovens now come with more features, sleeker design, and “guided cooking” functionality relative to those in the past, these adjustments are far from perfect.

Nor does GDP capture gift transfers, or valuable things that are given away for free. This is especially relevant to online platforms that offer their services to users at no monetary price. If that platform sells advertisements, those sales will be counted in GDP. But the considerable consumer surplus provided to users free of charge goes uncounted in official growth statistics. Broughel and Thierer point out that GDP probably underestimates the contributions of innovation to growth because so many of its outcomes are unmeasurable.

This acknowledgment goes both ways: GDP may also not calculate many negative social consequences generated by innovation, such as the parade of horribles critics pin on technological development.

It is even possible that innovation is associated with lower GDP growth in the short term. This may have been the case during the Great Depression, which was a time of rapid innovation despite general economic decline. In fact, the introduction of particularly sweeping innovations, called “general purpose technologies,” can be “so disruptive at times that they reduce aggregate production for a period of time until the macroeconomy adjusts,” as the paper notes. For example, it’s not hard to imagine that the spread of electricity or the internet led many old business models to fail.

Regardless of these analytical limitations, the empirical association between innovation and growth is well-established in the economic literature. Policymakers who wish to foster economic growth would, therefore, be wise to foster an innovation culture.

Innovating Is Hard to Do

This can be easier said than done. While economists are confident in the association between innovation and growth, they are far less certain about what actually drives innovation. Many have offered theories describing the conditions that give rise to innovation. But the spark that lights cultural creativity is hard to synthetically recreate.

Economists have a good idea of the general ingredients. According to Daron Acemoglu and James Robinson, a nation’s institutions can make or break its capacity to promote technological change. Good institutions foster innovation, bad institutions kill it. And what do “good institutions” look like? Douglas North and Barry Weingast say good institutions protect and promote property rights, which gives people an incentive to find new ways to improve their lives. Other economists, like Deirdre McCloskey and Joel Mokyr, emphasize the role that culture plays in encouraging innovative entrepreneurship, whether through esteem among the bourgeois class or fostering a pro-innovation intellectual elite culture.

What’s harder is the recipe: how can policymakers shape their nation’s laws and cultures to cook up an environment for innovation?

The United States is actually in an enviable position as a nation that houses a thriving innovation culture. We already have the manna from heaven. Our nation’s higher education and research institutions are the envy of the world. Our nimble capital markets adapt to new investment opportunities. Our planet’s brightest minds flock here to build tomorrow. These serendipitous conditions explain why the US has given rise to some of the most successful companies today.

In our case, then, policymakers must play defense. They don’t need to discover a policy environment that can conjure up the magic of innovation. They just need to make sure our policies don’t mess up a good thing and repeal policies that threaten to do so.

This means refusing to succumb to the forces opposed to technological change. Those who are harmed in the short term by disruptive innovation should not be ignored, but neither should innovation be killed. Doing so would mean effectively eating our own seed corn. Rather, policymakers seeking to secure economic growth in the decades to come should protect and extend our innovative environment.

Andrea O’Sullivan is the director of the Center for Technology and Innovation at the James Madison Institute

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

West African Countries to Adopt Technology for Disease control

September 21, 2019

The spate of communicable diseases (CDs) and other tropical diseases within the West African sub region is giving both governments and health authorities a lot of concern. To mitigate on this, the West African Health Organisation (WAHO), made up of the 15 member countries of ECOWAS are leveraging technology that will help to prevent hem prevent cross-border outbreaks of epidemics including Ebola, cholera, yellow fever, Lassa fever, measles, onchocerciasis and meningitis. This was made known yesterday after the presentation of range of health systems aimed at strengthening solutions in Nigeria and West Africa by representatives of BroadReach Consulting during the just concluded Nigeria Implementation Science Alliance conference in Abuja. This will be achieved by employing the Regional Actions Through Data known as RAD program which is funded by the United States Agency for International Development (USAID).

Speaking on the development, the Acting Program Director Regional Actions Through Data at BroadReach Consulting Dr Uchenna Nwokenna, said that every year, infectious diseases such as Ebola and malaria claim the lives of about five million Africans, and the inability to monitor and share information at scale has been a major set-back in the control of outbreaks. He further noted that these outbreaks have major, far-reaching implications for the communities they affect. He added that “we believe that the prevention and control of infectious disease outbreaks is possible when you combine human ingenuity and technology.”

BroadReach Consulting with headquarters in Cape Town, South Africa is the implementing partner of Vantage Technologies, a Swiss registered software development company, works with various partners in many African countries, including the PEPFAR-funded grant for USAIDS’s five-year epidemic control program in South Africa, called APACE (Accelerating Program Achievements to Control the Epidemic). Vantage Technologies leverages big data to help strengthen healthcare systems in emerging economies.

That is why WAHO is exploring innovative uses of technology to support improvement of the production, dissemination and use of health information through weekly and quarterly epidemiological bulletins, regional health profiles and a regional statistical yearbook. It also hopes to use it to strengthen cross-border health and epidemiological surveillance through the cross-border health mapping, monitoring of epidemic-prone diseases (EPDs) vaccination and HIV programmes, and cross-border collaboration.

RAD is using the ‘Disease Threat Management Solution’ of BroadReach Consulting, which leverages Vantage technology to track and analyse data for major infectious diseases, including Ebola, Onchocerciasis and Cholera, in each country.

Vantage collates and digests a large amount of indicator data from different countries to produce a weekly Epidemiology Bulletin. The weekly bulletin is circulated among senior health officials and, should there be a risk of an outbreak or an actual occurrence in a border region, the relevant agencies are alerted and guided to mobilise resources and take effective action to prevent or contain the outbreak.

The ‘Disease Threat Management Solution’ is a breakthrough in the control of disease outbreaks because it utilises multi-source and multi-country data for expedited response and decision making. Previously, when an outbreak occurred in one country, a neighbouring country might have learnt of the risk only after it emerged within its borders. The inability to monitor and share information at scale has been a major set-back in the control of infectious disease outbreaks, until now.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.

Exponential Innovation: Why tech startups need to re-model their approach to innovation

September 19, 2019

Everyone is talking about it and everyone is promising it. You’re constantly surrounded by it, and sometimes you’re even worried by it — Innovation. In the corporate world, innovation has become one of the most used words of the decade. Sit in any boardroom meeting and industry seminar and you’re likely to hear this term being used repeatedly, and if you’re in the technology space you don’t really have a choice. Innovation is the name of the game.

But what does innovation truly mean? Both for my company and my audiences? This is a question that a lot of leaders today are forgetting to ask. More importantly, what measures do you put in place to guarantee your innovation is successfully driving your company forward, whilst in parallel creating a positive impact on the wider community?
In order to make true change, these questions must be addressed head on. If you do this successfully, not only will your business be at the top of its game, but your workforce will act as a force for good. This is where the concept of exponential innovation comes in.

Exponential innovation: redefining the value chain

When Uber was trying to solve the problem of taxi availability anytime, anywhere, it invented an entirely new concept and caused a paradigm shift. Now, every car on the road can potentially become a taxi, and the industry has changed forever. Airbnb in the hospitality industry, and Spotify and Netflix in the entertainment industry have done the same.

Similarly, in the payments industry, when tokenization technology was introduced, it was a conceptual shift in thinking. Should card data be compromised, the data became useless to fraudsters. This not only helped to protect consumers’ financial data, but also boosted consumer confidencein an industry becoming increasingly more digital.
This is the very definition of exponential innovation: it goes above incremental innovation to reimagine the consumer experience and create efficiencies within the industry’s value chain. It challenges the status quo, looks at pain points with a different set of lenses, with the aim to eliminate them, not just reduce them.

It is necessary to approach your product or service from the viewpoint of the end-consumer. Every organization today is a B2C organization, not a B2B or a B2G, because ultimately the work you do will have considerable impact on individual lives. It is that impact that you must look to positively transform, to achieve exponential innovation.
Three-pronged approach to exponential innovation: Build, Acquire, Collaborate
Build.

This is perhaps the most obvious one: design, invent and innovate. Building the right solutions requires looking internally and investing in those technologies and solutions that aim to disrupt existing technologies. In the era of the Fourth Industrial Revolution, emerging technologies such as Artificial Intelligence, Internet of Things, Machine Learning, Robotic Process Automationand Blockchain are ruling the roost in terms of their use-cases for commercial purposes. Gartner forecasted that the number of things connected to the internet surpassed the number of humans and is expected to reach 20.4 billion by 2020. The boundaries of technologies continue to increase, and there has never been a better time in history for innovators to experiment, build and test new solutions.

Complementing this is the growth of the knowledge economy, in which technology giants no longer work in individual silos, but rather encourage knowledge-sharing with each other in order for the world’s technologies to be able to talk to each other. Egypt recently announced plans to set up a Knowledge City in the new administrative capital that will include branches of foreign universities, research, innovation and entrepreneurship centers, in addition to a science park. The Knowledge City is part of Egypt’s Higher Education and Research Strategy that aims to promote science, technology, and innovation ,indicating that the region is ripe for further invention.

Acquire

Look at your landscape. The rise of fintechs and startups is disrupting virtually every industry, not just the tech sector. 2018 saw a record of 366 startup deals across MENA, amounting to $893m of total funding. Egypt was the fastest growing ecosystem, with 22 percent of deals in the region .Thanks to hyper-digitalization, these startups have far greater access to consumers than was ever possible before.

It is important to view these players not as competition, but as potential strategic partners that can help you achieve exponential innovation. Looking at the positive sentiment that Careem and Souq received this past year after being acquired is a clear indication that the region is increasingly becoming a hotbed of unicorn startups, and it makes business sense to leverage this opportunity.

Image result for exponential innovation — From exponential technologies to exponential innovation

Collaborate

Let me give you a world famous example. When Apple decided they wanted to launch the Apple Card, Mastercard didn’t shy away — we became their global payments network.

Similarly, many technology-based startups and consumer-facing apps only work thanks to established companies partnering with them. For example, popular apps in the region such as Zomato, Uber and Namshi enable consumers to purchase their food, travel and clothing anytime, anywhere simply from their smartphones. For this to happen, several stakeholders need to work together. The app itself needs to ensure that the consumer has an easy-to-understand user experience that allows them to make the purchase seamlessly. The telecom provider needs to ensure that a person has sufficient data capabilities to be able to process this payment via their phone. The payment provider needs to ensure they can seamlessly process the payment safely and securely. Collaboration is thus key in this process.

Overcoming the challenges

Trying to achieve exponential innovation comes with its fair share of challenges. In the payments industry for instance, our biggest concernis around misconceptions around security. Consumers take a lot of time to change behaviors and have concerns regarding cybersecurity and fraud. In 2018, the proportion of organizations in the Middle East reporting that they’ve fallen victim to acts of fraud and economic crime increased to 34%, up from 26% in 2016.

The key to addressing this is three-fold. First, it’s necessary to establish a dialogue involving knowledge-sharing with governments, and banking and technology partners to address these issues in a collaborative way. Second, deploy the technological tools available that minimize fraud concerns, and strengthen authenticity. Tokenization and Artificial Intelligence have been instrumental in achieving these goals. Lastly and most importantly, it is necessary to raise awareness on these issues to gain trust amongst consumers. Trust is the foundation of the digital economy, and consistent efforts must be made to ensure that trust.

Transforming industries, economies and communities

Every company that aims to innovate will have its fair share of challenges while trying to achieve exponential innovation. But keeping the larger picture in mind and addressing these concerns is essential not just for a firm’s growth, but also their sustainability and survival.

By executing a three-pronged approach and leveraging technology to achieve exponential innovation, it is possible to transform industries, benefit economies, and positively impact and enrich communities.

The world today is evolving at an exponential pace — disrupting technologies are changing the way people shop, travel, communicate, pay and much more.Exciting times lie ahead, providing companies are able to approach and harness innovation in the right way.

Gaurang Shah is the Senior Vice President, Product Management, Digital Payments & Labs, Middle East and Africa — Mastercard

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world

Rwanda Gets Africa’s First Smartphone Powered By Blockchain

July 19, 2019

Take it or leave, innovative startups are never retiring to sleep soon. The game of disruption is hitting hard. Sooner or later, everything would soon be stretched to its limits. Pundi X has taken the first bold step.

Now in Rwanda, it has launched the first-ever Blockchain-powered smartphone on the African continent. The Singapore based technology company says the new phone blockchain mobile phone will allow everyone to make a phone call on the blockchain.

Here Is How The Whole Thing Works

The blockchain-powered smartphone is to be known as XPhone, and very much unlike many phones powered by android, IOS and Windows systems, the XPhone is powered by Function X (FX) operating system — a blockchain system.
According to Pundi X, a blockchain phone uses blockchain technology which powers many things like bitcoin, digital land titles, and medical records.
With XPhone, users are connected to the blockchain — everything they do from texting and calling to taking photos and browsing is transmitted via the blockchain.
In this sense, users are in control of their data.
In a case of Rwanda, for instance, if you had an XPhone, MTN or Airtel would not be able to access your information.
Blockchain as an emerging technology is increasingly becoming popular with many applications being invented every day.
The technology is mostly known for financial services. This is the technology that powers bitcoin and ethereum (the world’s top digital currencies).
The technology enables people to own digital money and transact between themselves without the presence of intermediary or central authority like financial institutions.
In some parts of the world, people are already using bitcoin (a form of electronic money) to make transactions without the need of banks, purchase goods and services and buy music online.
But blockchain technology is generally considered to have other real-life applications like helping in designing smart contracts, enable digital voting, create digital Ids, and enhance supply chain management, just to mention but a few.

The startup unveiled the phone, XPhone, at the GSMA Mobile 360 Africa and it said it was the first blockchain mobile phone launched in Africa.

“The XPhone allows everyone to make a phone call on the blockchain,” Zac Cheah, the company’s chief executive officer said while unveiling the phone.

Xphone Is Out To Confront Data Mining By Mobile Network Providers

Here is why Xphone is the deal:

XPhone will have no centralized service provider, making it secure as consumers are in charge of their own data. Very much like no MTN, or Vodafone or Orange.
The XPhone has an open-source which means that anyone that is interested to build applications and services can do it easily.
The blockchain smartphone will enable you to make a smooth transition between blockchain and traditional Android mode.
The company says it plans to produce only 5,000 XPhones in late 2019, but that it was looking to partner with telecommunication companies to produce more blockchain phones.

This is a huge moment for all the stakeholders in the mobile telephone industry. Blockchain phones would definitely serve some purposes: eliminate data mining by spy groups; store information permanently into the blockchain; (making it easier to retrieve information on occasions of lost phones)as well as have access to normal phone services.

Now, here is one problem Zac Cheah and his startup would have to face: Zac Cheah and his startup are likely to face quite some questions regarding whether the new phone could be easily commercially and widely accepted as people take a while to adopt some of these complex technologies. To put the question succinctly, how many people know what blockchain technology is?

Another thing: government regulations and approvals! This could be another puzzle for the entrepreneurs since most governments across the world have been less responsive to large scale adoption of blockchain technology.

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world.

Facebook: https://web.facebook.com/Afrikanheroes/

Start-up Firm Set to Transform the Parcel Industry Through Innovation

July 6, 2019

The Kwik app comes with an integrated geolocation system and offers an efficient transportation service for small packages (up to 25kg) or documents.

French start-up firm, Africa Delivery Technologies has launched an app on both Apple Appstore and Google Play aptly named the Kwik (https://KWIK.Delivery/) which aspires to quickly become the Number #1 of last-mile delivery services in Nigeria.

“Kwik aims to become the first platform for last-mile delivery in urban areas in Nigeria before extending its scope to neighbouring countries. We’re targeting 100,000 deliveries per day in three cities before 2021”, explains Romain Poirot-Lellig, Founder & CEO of Africa Delivery Technologies (ADT), developer of the Kwik app.

Kwik connects independent delivery partners, either owners and/or drivers of a vehicle, with customers who need reliable, affordable and flexible delivery solutions. The Kwik app comes with an integrated geolocation system and offers an efficient transportation service for small packages (up to 25kg) or documents, following the same model as Go-Jek, Uber or Taxify.

Kwik’s value proposition is simple and straightforward: to ensure the fast, reliable and efficient delivery of a package or envelope in Lagos, Nigeria’s business capital. Currently, Kwik’s competitors offer a service that takes 12 hours and costs between 2,000 and 3,000 nairas (4-8 euros) per delivery from Lagos to Lagos. Kwik promises to offer a service of higher added value within 2 hours and for a third of the price, with integrated geolocation and proof of a delivery system that offers the highest degree of security available on the market.

The service offered by the company is available through the Kwik app or via a web browser. The couriers are geo-located in real-time. The payment can either take place beforehand by credit card via the Nigerian fintech Paga’s system (12 million users) or in cash. Kwik focuses particularly on B2B clients and allows them to create tour deliveries on the fly, set up recurring delivers; manage users, and so on. Additional insurance services are currently under development.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.

Facebook: https://web.facebook.com/Afrikanheroes/

Pushed Against The Odds, This Entrepreneur Is Rebuilding His Life From Cryptocurrency And Blockchain Technology

June 10, 2019

When Mr. Tola Fadugbagbe relocated back to Lagos, Nigeria’s largest city for the second time in his young life, there was nothing yet like cryptocurrency or bitcoins or tokens or Blockchain technology. He could only be fused into one of the over 17.5 million people living in the city. And it appeared he was merely making up the population because it seemed the city looked too overwhelming to fit in. It didn’t take long before several months of homelessness hit him hard in the face.

‘‘For several months, I stayed in an uncompleted building. Life was nothing but hell. I was running around struggling to get funds to complete my education to university level,’’ he tells Afrikan Heroes.

Then a job stint at a highly successful real estate development company. A break-away to start up a local block making factory, and a sudden bankruptcy and closure of the facility because clients who promised to pay took delivery of his blocks but never cared to pay back, Mr. Fadugbagbe says he is still banking on his integrity, determination, cryptocurrency and blockchain technology to take him farther than he has ever thought.

‘‘ One thing I always prove to people about myself wherever I go is integrity. Anywhere I am, people always get to know me as someone with integrity. That was why I stayed longer than expected at the real estate company,’’ he said.

Mr. Tola said he learned his lessons about running his first startup the hard way:

While I was working in the real estate company, I discovered that there was a problem that needed to be solved: the quality of concrete blocks being delivered to this site. You know, the blocks they usually supplied the real estate company were not strong enough. So I thought that if I ventured into this business, I could make some future from it. So after I left the real estate company, I set up a block making factory.

When the factory was up and running, I was so happy that I was progressing. I was generous and selling on credit. But before I knew what was happening, people were withholding my money and they were telling me stories. As I’m talking to you now, these people are still owing me. I was back to square one after that nightmare: I could not even produce even though my equipment was on ground.

‘‘Till Date, It Has Been Marvelous Getting Involved in Cryptocurrency.’’

While reading about cryptocurrency and blockchain technology sometime in 2016 from two of his Facebook friends ‘who were not usually detailed about the terms and the philosophy behind the concept’, Mr. Tola got interested and began extensive studies and inquiries into what cryptocurrencies are, only to discover that cryptocurrencies suited his philosophy. Since then, he says it has been ‘‘marvelous getting involved in cryptocurrency.’’

Today, he is part of a local network in Lagos and Nigeria that hosts conferences, seminars, boot-camps, and workshops training people on what cryptocurrency is and how they can trade in it.

I believe that cryptocurrency is a big deal. Big corporations can’t stop talking about cryptocurrency. They can’t stop implementing cryptocurrency in one way or the other. Look at the CEO of JP. Morgan, Jamie Dimon, who once told his workers that if they ever got involved in bitcoin they would be fired. He called Bitcoin a fraud, a scam and an evil. Few weeks later he bought bitcoins on Poloniex. Right now, J.P Morgan is using fragments of JPM Coin, the native coin of JP Morgan Bank. I mean JP Morgan is a US banking giant that move trillions of dollars across the globe daily. Right now they want to use their own token to scale payment protocols and remittances,’’ he says.

Mr. Fadugbagbe is not far from the truth. Earlier in February 2019, J.P. Morgan became the first major U.S. bank to create its own cryptocurrency with the launch of “JPM Coin.” The digital token was designed to settle transactions between clients of its wholesale payments business, specifically for international payments and securities transactions that migrate to the blockchain.

Mr. Fadugbagbe remembers one incident about how cryptocurrency has been more than a helpful innovation in the payment system.

‘‘Someone in the US sent bitcoins to me today. I sent Naira equivalent to the person’s beneficiary in Nigeria. If they are to rely on Western Union, the fees, the delay and all that would be too much,’’ he said.

‘‘I believe that cryptocurrency has come to stay. You know, there are some people in Diaspora that find it difficult to send money back home. Now, crytopcurrency has made it a lot more easier for them because they could just create crypto accounts over there and using those accounts, they can now send bitcoins to me, and I, in turn pay off their beneficiaries in Nigeria the Naira equivalent of the bitcoins sent to me. These things happen within a space of few minutes.

He says that unlike fiat currency that government can only print more, borrow more and yet remain heavily in debt, cryptocurrency always has an edge.

‘‘You can’t inflate it. Instead you can only reduce it. This means that, with time, crypto can always gain value. The only downside of it that it that it is highly volatile. That is why people should be cautious about the type of crytocurrrency they get involved in. In fact, the crypto market is highly competitive right now. So if you lay your hands on a token doing similar things to other similar tokens in the similar same crypto market, and if the token is not highly innovative, then it would not scale,’’ he says.

‘‘Whether You Like It or Not, Everybody Will Get Involved In Cryptocurrency’’

Mr. Fadugbagbe said the only thing remaining for cryptocurrency to become widely accepted is for governments to give their nod to it. For that, he sees a huge opportunity for early investors.

”So if you look at the future of cryptocurrency, you can’t but be part of it at this early stage. Many people see Bitcoins, ethereum and cryptocurrency as the dark part of the internet because some governments are yet to approve it. Whether we like it or not government plays a major part in controlling the mindset of the citizens. Just take a look at the stories of MTN and DSTV before they became big players in their industries. We all know are they were first rejected by governments,” he says.

Why Africa is Lagging Behind In Cryptocurrency and Blockchain Technology?

Mr. Fadugbagbe says Africa is lagging behind because of the continent’s low rate of adoption of the innovation. He says anything revolutionary will be adopted quickly in any continent or any country when the government welcomes it wholeheartedly. Although he says African governments are usually ‘‘just slow in adopting something as disruptive as cryptocurrencies,’’ he has hope that Africa would get there someday.

”This is one of the reasons why we’ve been hosting seminars, workshop, bootcamps. We still need to engage the government.We just have to keep talking about this. We hope that one day, we would get the attention of the government to approve the necessary framework for cryptocurrency and blockchain technology. Just take, for instance: if you can now travel to all West African countries using Bitcoins. It would really mean that more people would get interested in bitcoins. If the government also says you can now pay your tax with bitcoins, many people would be eager to pay tax,” he says.

Mr. Fadugbagbe also finds a big problem with the way international communities see cryptocurrencies coming out of Africa.

”International communities believe that an average Nigerian or African is a scammer,’’ he says. ‘‘ Once cryptocurrencies are coming out from Africa or Nigeria, the international community doesn’t usually trust them, even when the intention is good,’’he says.

How Startups Can Leverage Crypto To Boost Their Businesses

Mr. Tola says smart startups can leverage cryptocurrencies to boost their business even without any formal partnerships with any blockchain organizations or blockchain platforms. To do this, he says African startups may consider accepting cryptocurrencies such as bitcoins, bitcoin ethereum or any other viable coins. Doing this not only boosts startups’ businesses but also gives their businesses free advert.

”Free advert because cryptocurrencies guys everywhere in the world will begin to refer your business. Take for instance, the impact of having a barbershop somewhere in Nigeria where you can now have hair cut and pay with bitcoins. In trying to convince your folks about the existence of such barbershop, you may begin to refer to such words as ‘‘look at the barbershop here. Look at its office phone number.’ The same way, you may refer to a hotel in Cameroon where you can now check into, pay with bitcoin and get discount. Or somewhere in Zambia where you can vacation to and pay with cryptocurrency. This will give startup owners free adverts. Just imagine a consumer in Nigeria, Cameroon, Senegal, South Africa, Uganda talking about your business.”

”This is why celebrities keep progressing because we keep talking about them. Who knows? But Reginal Daniels has so much been in the news and may be landing brand ambassador deals even. So this will give startups free adverts, thereby generating more leads for their businesses.”

‘’Governments Can Use Blockchain Technology To Keep Records Of The Number Of Books Received By Each Student’’

Mr. Fadugbagbe tells prospective blockchain technology investors in Africa to start submitting proposals to the government because there is a huge opportunity in that regard.

‘‘Africa needs blockchain tech the most. We can use blockchain to curtail the inefficiencies in the system. In most education ministries in Africa, for instance, books are distributed from time to time. Government can use blockchain tech to keep records of the number of these books received by each student. For every book the students receive, they can thrown in a token from their backends, using a smartphone. This is the smartest way to get feedback from Africa’s cluttered data management system. So let’s begin by sending in proposals,’’ he said.

Mr. Fadugbagbe says blockchain technology makes for more accountability and efficiency in the system, and unlike humans, data stored in blockchains cannot be tampered with.

‘‘You look at blockchain as a record that cannot be edited,” he said. ‘‘For instance, a list of items or names, or a football team. When humans are involved, they can add or remove the names at will, but with blockchain technology, the list cannot be padded. So once added, the information cannot be altered.”

Moving On

Cryptocurrency Market Cap: Source — Business Insider

For a business model that was worth over $700 billion as of January 2018, the global cryptocurrency market is booming and is not relenting. Mr. Tola Fadugbagbe does not see this ending too. No longer homeless and frustrated by bad debt, at least not in the category he once fitted in at his former startup, he has since moved on.

‘‘Right now,’’ he says, ‘‘I am living in a good and comfortable apartment. I have been reinvesting into large scale agriculture — a cocoa farm and and poultry — from the proceeds of my blockchain business. My aim is to grow them into the biggest phase they could ever be in. I like my life so simple because of what I have experienced in the past. I’m not going back to that nightmare.’’

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world.