George Pro
Nov 12, 2019 · 6 min read

NULS, the blockchain Project for Africa.

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There are plenty of problems that need solving in Africa. These problems potentially can also be solved with a few key principles that are inherent to the blockchain, such as transparency, and decentralization. From elections to international remittance, as well as energy services and alternatives to banking; Africa has many broken systems that could be fixed by new technology. It is not even about using blockchain to do a patch-job on the continent, there is a real chance for many African countries to fully embrace blockchain technology even more so than their first world counterparts to become world leaders in this new space. With the inception of the blockchain (cryptocurrency). Many people have the strong conviction that this new wave of financial revolution could solve many of Africa socio-economic problem such as poverty, corruption, financial exclusion, transparency, remittances issues, third parties( banks, money transfer companies) among others and that Africa will adopt such technology easily and at a faster pace. However, the situation has been different, the adoption pace is very slow. One major factor that can be attributed to the slow pace of blockchain adoption in Africa is the lack of native blockchain tools and DAPPS to build and to enable the indigenous ecosystem of the various Africa countries to reach its full potential in blockchain technology. This is as a result of challenges in development itself, programming a blockchain requires knowledge in cryptography and databases which is also costly and there is a huge demand for blockchain developers worldwide. Why should they go to Africa? The ecosystem must be worth their while, and that has been a problem for now and an issue for the future for the blockchain technology.

For the above reasons, Nuls position itself as one major blockchain platform that can help the Africa continent to leapfrog and tap it blockchain potentials fully and generate more use case for the blockchain technology which would increase the adoption pace of blockchain in Africa;

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NULS blockchain infrastructure solves the developer problem

With the lack of developers couple with high cost of blockchain development in Africa.

The chainbox, which help developers to create a chain in just ten minutes and also have that six basic blockchain modules, packaged into one easy set-up allows developers to use blockchain-in-a-box that is convenience and eliminates the need for blockchain development experience. This has position NULS very well for the Africa ecosystem this is due to the fact that Chainbox enable developers to create Chain on the NULS platform without deep blockchain development experience. This would attract more developers into the blockchain technology and in the long would eliminate the apathy behavior towards blockchain technology by developers on the continent Africa.

The Proof of Credit Mining (POCM), is a SCO Platform that allows projects to use smart-contracts to issue and distribute project tokens on blockchains. This means issue tokens from any network. Stake into SCO project nodes and earn their token as reward, while the project earns NULS as reward. This cannot be discounted as important feature making NULS a great blockchain project for Africa. Many developers in Africa have abandoned their project mainly due to lack of fund and inability to raise fund and other resources but with the POCM it will enable developers to build great blockchain project with enough funding for development since they can use their NULS rewards obtained from the POCM to bootstrap their projects development and arguably augment the overall success of blockchain technology in Africa

NULS evolution, Smart Contract, Cross chain NULStar and the upcoming Chain factory are all important features making NULS a great project for the Africa blockchain technology industry and the Africa economy as whole.

Great way of growing the community

NULS is a community initiative that allows anyone to contribute in a number of different ways. The NULS ecosystem is more than just open-source development. Content creation, promotion and adoption are equally important as a decentralized digital token, that’s why the key to success is contributions from people of different skillsets. Through the community foundation fund and the Community Governance tool , individuals with outstanding skills to promote the community can apply for funding and do their project to increase awareness and to promote adoption.

The Nuls Token

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With a lot of cryptocurrency project now springing up, there is clear evidence that the cryptocurrency project that will win Africa and Asia will have it all since these two continent are the continent with a lot of use cases for blockchain technology. Concerning Africa, the world bank research shows that 17% percent of the underbanked population is in Africa. The situation looks grimmer in the world view but in Africa, about 80% of the population don’t have bank account, the above depicts that the financial inclusion in Africa is very low. Global money transfer is costly and it’s draining a lot of money that could come to Africa. World bank posit that it is more expensive sending money to Africa the world poorest region than anywhere in the world.

From the above, the economic model of the NULS Blockchain infrastructure which is Nuls token clearly position Nuls as the blockchain project for Africa since Nuls token is;

Easy to Use

You know the procedure for opening a simple bank account they are asking you several documents if there are any mistakes in the documents then they refuse to open an account, also accessing your funds in different geographical location is a little bit hard. In the case of NULS you just need a device that is able to access the internet, with the help of the device, you can create your wallet and use where ever and whenever you want. That is why we say with NULS you are your own bank.

Low Operation Cost

Transferring money by using any other online forum or bank gateway is expensive as they levy considerable fees for the transaction. If you transfer NULS token there is no need to pay commission and fees to banks and other organizations. In fact with Nuls the transaction fees is zero.

Decentralization

Nuls have no central authority to control it, the network is distributed to all participants, each computer mining nodes is a member of this system.This means that the central authority has no power to dictate rules for owners of NULS and even if some part of the network goes offline, the payment system will continue to operate stably.

Speed and instant ability of NULS token

With NULS token , you don’t need to wait a couple days for your business to receive the money. NULS token are based on the blockchain technology, it removes delays, payment of fees and a host of other third party approval that might have been present. With the aid of the NULS light wallet and mobile wallet transactions are made simple, easy, cheap and faster.

NULS security is tight

All your transactions will be secured as it is using cryptography. It is next to impossible for any person other than the owner of the wallet to make any payment from the wallet unless they were hacked, don’t worry there are many ways to protect your wallet from attack when using NULS

Border-free nature of NULS

When you talk about transactions using NULS token then there are no limits. You may be in a different part of the world and the receiver might be in some another country, you can still transfer the amount without any hassle. The inter-country transaction is extremely easy with NULS, because its function is not under the control of any central bank. With this ability individuals can use it to receive remittances without going through the traditional process which is tedious and cumbersome

Kind regards George Pro

Blockchain and cryptocurrency enthusiasts

Fighting for blockchain technology adoption in Africa

Nuls making blockchain simple

George Pro

Written by

Nuls_West_Africa
George Pro

Written by

Blockchain and cryptocurrency and enthusiasts @NULS blockchain

Nuls_West_Africa

Preaching the good news about @Nuls, promoting usage of blockchain technology and increasing adoption.

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