Algomint sponsors Authentium & Fame pilot project in Nigeria
Algomint is thrilled to confirm that our donation of $1,000 USD to Authentium’s on-going pilot venture in Nigeria resulted in the drilling of well and installation of a water pump in a farming village near Oni Garri, Akure Ondo that will provide free water to the surrounding community. This funding was used to purchase a drill in a rural Nigerian farming village which will be used to provide free water to the surrounding community.
Authentium provides a transparent end-to-end supply chain ledger from farms to forks around the world. Authentium’s venture to Nigeria is primarily focused on establishing a dialogue with local farming communities to gauge their appetite and requirements for the upcoming Authentium product release, as well as how farmers could benefit from other Algorand ecosystem projects. One of the primary beneficiaries will be farmers in developing countries whose market for selling their products is often monopolised and exploited. Algomint is also a potential use-case amongst the Nigerian population who have heavily adopted Bitcoin for payments.
According to Fame Founder and Authentium Foundation Chief Ethics Officer, Bilal Brahim, rural Nigerian farmers often spend several hours travelling to a local internet café and awaiting BTC transaction confirmations, which in times of high network activity can be a lengthy process. The use of Algomint would mean that farmers could mint goBTC and enjoy the inherent benefits of the Algorand blockchain, one of which being rapid transaction speeds.
This trip to Nigeria for Authentium is the first on a developing nations tour with next stops in Columbia and India.
“We are really pleased that we were able to make a small contribution to the great work being done by Authentium in Nigeria,” said Algomint co-founder AJ Milne.
“We see a big opportunity in nations with high adoption rates such as Nigeria where utilizing the Algomint platform will help to significantly change the day-to-day of crypto transactions.”
