Blockchain is a digital storage system that stores information in block formats using a decentralized system making the information stored not susceptible to hacks or change.
Blockchain technology is changing the way businesses are conducted especially financial transactions as seen in cryptocurrency trade.
Blockchain’s ability to support cross-border transactions offers information security, chain tracking among others is the edge it has over other storage systems.
Startups designing blockchain technology in Nigeria has emerged and are developing a blockchain that will be used in all industries and sector.
Some blockchain startups in Nigeria include:
BuyCoins
This blockchain startup uses Blockchain technology in cryptocurrency exchange. Offers customers the opportunity to buy, sell, store or exchange cryptocurrency.
BuyCoins supports Ethereum, Bitcoin, Litcoin and attracts zero charges when their platform is used for any transaction.
BuyCoins also teaches individuals about Blockchain and cryptocurrency on their platform.
NairaEx
One of the popular cryptocurrency exchange platforms in Nigeria. Founded in 2015, NairaEx allows customers to trade and exchange Naira for Bitcoin.
NairaEx prides itself on its speed of effecting transactions. Their platform supports Bitcoin, Ethereum, LiteCoin, Bitcoin Cash.
BitKoin Africa
This startup offers a Peer-to-Peer platform where individuals who want to buy or sell cryptocurrency can connect and conduct the trade.
BitKoin Africa uses the Escrow system on their platform for this transaction and ensures a safe and smooth transaction for all parties involved.
Bitcoin, Ethereum, and LiteCoin are the cryptocurrency its trade and exchange are supported by BitKoin Africa.
NairaSwitch
Founded in 2016, NairaSwitch is one of the Blockchain startups in Nigeria that also allows people to exchange cryptocurrency on their platform.
Cryptocurrencies like Bitcoin, Perfect Money, and Ethereum are exchanged for Naira through bank transfer.
BMCToken
This startup uses a Blockchain Merchant Consumer Token to exchange value for goods and services.
The decentralized system of Blockchain coupled with the service offering of BMCToken makes the transactions fast, secure, and Value-driven.
CoinSwapNG: This blockchain startup was founded in 2016 and is located in Lagos. CoinSwapNG supports the exchange of Bitcoin, Bitcoin Cash, Ethereum, LiteCoin.
HouseAfrica
This blockchain startup is a housing solution and real estate company that provides decentralized rental and real estate solutions.
HouseAfrica offers HAF tokens on WAVE Blockchain which can be used to buy, rent or sell a property.
Cowrie Exchange
COWREX, a platform of Cowrie Exchange built using Blockchain Technology.
Exchange is done on COWREX using a digital token called stablecoin. This aids fast transactions across countries.
The Cowrie Exchange platform supports Bitcoin, Ethereum, and Altcoins.
CoinQus
CoinQus supports exchanges from Fiat currency to cryptocurrency, cryptocurrency to cryptocurrency, and cryptocurrency to Fiat currency.
CoinQus offers digital tokens as well as exchange cryptocurrencies like Bitcoin, LiteCoin, Dash, Ethereum among others.
Ellcrys
Ellcrys is another one of the Blockchain startups in Nigeriat that enables people to software on decentralized platforms. This allows various people to work on the product in real-time.
Ellcrys’ major goal is to decentralize the software development process. More like decentralizing GIT thereby encouraging more collaboration.
About the author
Chibuzor Elizabeth Chijioke a graduate of Abia State University is a Nigerian based entrepreneur and content writer. She trained as a digital marketer at Innovation Growth Hub. She is committed to teaching people how to apply technology to better their lives and businesses. She spends her leisure reading sci-fi and fantasy novels.
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