The Digital Solution for Africa’s Payment System Issues

Place/Date: - July 14th, 2020 at 3:56 pm UTC · 2 min read
Contact: Oduwa Coin, Source: Oduwa Coin

The Digital Solution for Africa’s Payment System Issues
Photo: Oduwa Coin

Africa is one of the regions with the most complicated payment systems. Many countries in this part of the world are affected by a problematic system that drains out people’s income and remittances that locals receive from family members abroad. The continent is also populated by underserved and unbanked communities. The need for a smart and trusted solution is necessary to overcome most of the issues these communities face on a daily basis.

Oduwa Coin is a revolutionary digital payment ecosystem and the fintech solution to Africa’s financial trouble. Through the usage of peer to peer technology, all transactions are settled within the network. This cryptocurrency is a free open source project derived from collaborative blockchain frameworks that overcome some of the pitfalls of Bitcoin.

Defined as a next-generation digital payment system, this innovative solution could bring great advantages to underserved communities. Oduwa coin was designed to function as digital cash using peer to peer technology to settle all its transactions on its own blockchain network. Built around the principles of self-governance and decentralization, this hybrid blockchain technology values privacy, efficiency, and security due to the asset protection the block provides for its user, popularised by the initiative of its community. 

The coin can be mined by everyone who wishes to join the network nodes. The blockchain itself was built on a proof of stake consensus mechanism and generates a decent reward for participants. Through the Oduwa community, everyone can buy, sell, make payments, gifts, donations, and earn rewards when mining Oduwa coins. 

Oduwa’s ultimate goal is to provide a gateway to underserved communities around the world and give them the possibility to protect their assets against future volatility.

 Oduwa intends to change the way Africa does business with the rest of the world, leading the way for borderless payments, cashless payments, and merchant settlement for the underserved communities around the globe.