Boom is on a mission to enable financial inclusion for all Nigerians by taking its e-commerce without banking solution to the masses.
According to Mr. Peter Alfred-Adekeye, Boom Founder and CEO, the founder of Boom, the app is now live.
“‘Our app, Boom which is a blockchain-powered e-commerce without banking application, is now live and available to all Nigerians from the 1st of October 2022.”
Boom is available in Hausa, Igbo and Yoruba in addition to English, French and Spanish’.
In a signed statement sent to TechEconomy, Boom has four ecosystems that makes it such an important app for the day-to-day life of a Nigerian. ‘Boom’s eco-system consist of the following:
Boom Marketplace, where consumers discover products and services from local, national and global
brands and merchants. On Boom, we are all merchants;
• Boom Wallet, for sending, receiving and storing money, as well as paying for goods and services, locally, nationally and internationally;
• Boom Chats for ultra-secure text, audio and video communication;
• Boom Social for community building and management.’
Boom Wallet, for sending, receiving and storing money, as well as paying for goods and services, locally, nationally and internationally.
Speaking further, Peter Alfred-Adekeye, Boom Founder and CEO assures all that Boom is safe to use as all users are required to go through, KYC before completing registeration.
To ensure compliance with local and international regulations, all Boom users must go through KYC at signup, by taking a selfie with either a Government-issued identity card, driver’s license or passport after which their Boom account is activated’.
As a free and open eco-system, Boom can be used for consumer-to-consumer (C2C) money transfers, business-to-consumer (B2C) payments, business-to-business (B2B) transactions and also Government-to-Government (G2G) financial exchanges, especially intra-African, cross border settlements.
There are no fees of any kind on all transactions within Boom, and neither are there any advertising.
Boom’s native utility digital token that transmits value between transacting parties within the Boom ecosystem is the Multicoin (MTCN). It is an ERC-20 token that resides within the Ethereum blockchain. The
Multicoin processes all transactions within Boom by automatically converting fiat currencies between transacting parties.
This way, a merchant or consumer in Nigeria can purchase goods and services internationally by simply converting the Naira into Multicoins via Boom certified resellers nationwide.
On Boom, everybody can be a Multicoin reseller.
“Thanks to Boom, financial inclusion for all Nigerians and all Africans, is now a reality” states Peter Alfred-Adekeye, Boom Founder and CEO.