There are not many blockchain companies in Nigeria. The reasons aren’t far-fetched. Nigeria is still at the preliminary adoption stage of adopting blockchain. There is a lack of awareness, regulatory challenges, and security concerns, hindering its wider adoption.
To intensify and speed up the adoption of blockchain technology, the Central Bank of Nigeria, for example, needs to implement its pilot program for interbank transactions using blockchain, execute blockchain for land registry and property transactions, implement blockchain-based supply chain management for agriculture, etc.
Here are some of the blockchain companies in Nigeria
Paylot Technologies
Paylot is a bitcoin payment processing service firm. It developed a payment infrastructure that allows merchants, businesses, freelancers, service providers, and others to receive and manage instant payments, remittances, and donations in a variety of cryptocurrencies from anyone anywhere in the world via our APIs, plugins, POS apps, SDKs, payment invoices, and so on.
Paylot is deploying Bitcoin and Blockchain technology to reduce costs and increase efficiencies in global trading, payments, and remittances, particularly in emerging markets. You can collect crypto payments instantly from anyone, anywhere in the world, and receive an instant settlement in Naira.
Bitmama
Bitmama is a Nigerian blockchain payments startup that makes it easy for anyone across the African continent to buy and sell cryptocurrency. It is one of the most innovative blockchain companies.
The Chief Executive Officer Ruth Iselema founded the company in 2019. Adam Umar is the company’s CTO, while Akinbola Asalu is the COO.
Bitmama started in 2017 as a P2P digital currency exchange. It quickly grew into a platform where individuals can trade and manage cryptocurrencies, and digital assets conveniently. Today, it offers a trusted platform for cryptocurrency transactions. It is also building technology that will redefine the way people do financial transactions through blockchain technology.
Bitmama had fewer than 20,000 users on its platform. That number has grown to more than 70,000, and they have seen massive uptake with minimal marketing. Revenues come from margins on the transactions its users perform on the platform.
Interestingly, the company is working on a B2B play where via APIs, it can assist businesses in various industries that want to offer crypto-based services to their users without building from scratch.
Lazerpay
Lazerpay has built a blockchain-powered solution that enables businesses to accept payments from anyone, anywhere in the world, using stablecoins.
19-year-old Njoku Emmanuel is the CEO and Founder of the company. And its mission is to become the Stripe for crypto payments by helping businesses accept stablecoins from anywhere in the world.
Lazerpay has developed an API that allows developers to integrate crypto payments into their platforms easily. It also allows these businesses to payout their funds in local currencies and US dollars to over 150 countries globally.
It does this using stablecoins, a category of cryptocurrencies that lack the volatility of the more popular ones people know of, such as Bitcoin and Ethereum.
In terms of cryptocurrencies, Lazerpay only deals in BUSD, DAI, USDC, and USDT. The company focuses on only those because they are backed by the US dollar. Focusing on these digital coins provides a stable, secure, and relatively risk-free financial solution for users.
In addition to its APIs and SDK offerings for white-label and checkout integration, Lazerpay also offers no-code solutions like payment links, QR codes, and payment buttons.
HouseAfrica
HouseAfrica is a blockchain firm company that enables people to buy shares in multiple properties across Africa and earn returns; by deploying technology. With the deployment of blockchain technology, it can successfully sell fractions(in square meters) of a housing project to individuals who are willing to invest.
HouseAfrica was founded in 2019 to help banks, individuals, and organizations to verify investments as well as possessions before acquiring them.
This is a real-estate-oriented startup that through technology helps potential investors to make necessary decisions.
Ellcrys
Ellcrys is a new blockchain that will allow people to build community-owned software products and organizations. This blockchain startup aims to encourage the innovation of new faction-owned software legacies and organizations as well as find solutions to the difficulties software developers face.
Users will be able to create decentralized Git repositories that are censorship resistant, highly available, and can be truly owned by multiple persons. Repositories can include all kinds of codes for different purposes such as web services, smart contracts, mobile app libraries/packages, frameworks, etc.
BMCToken
BMCT is a blockchain-based platform offering consumer loyalty rewards and solutions. BMC token is used by users for receiving rewards from merchants on the purchase of goods and services. It can be bought, sold, and stored using wallet solutions and exchange platforms.
BMCT combines the Ethereum blockchain, Binance Smart Chain, TRON Blockchain, and Bantu Blockchain (BMToken) to revolutionize consumer loyalty reward across these communities for mass adoption, using BMToken with a Ticker (BMT)
