æternity Africa recently held a successful ‘blockchain in business event’ in which they showcased cheque clearance process on the blockchain.The event generated a lot of enthusiasm from attendees sparking discussion about the possibilities of blockchain. In a continuing series of monthly events aiming at showcasing blockchain and cryptocurrencies use cases, the team aims to bring together entrepreneurs, decision makers, business leaders from specific industries. The expected outcome is show the tech is going to change their business models, impact their bottom line and tilt the competitive landscape in their industry.
The next event is about’ crowdfunding on the blockchain’.
About the event:
Emerging businesses in Africa overwhelmingly fuel the economy and provide the majority of local jobs. Globalization has presented African entrepreneurs with a unique opportunity to expand their services and offerings worldwide at a scale that has never been available before. However, though globalization provides them with countless opportunities, business owners have several challenges to overcome that are mostly exclusive to Africa.
By far, the most significant obstacle to startups is a lack of funding. Though the number of businesses is increasing, the amount of financing for these companies has remained largely stagnant. Reports show that a staggering 85% of small businesses are largely underfunded, however a deeper analysis reveals that the overwhelming majority do not have viable business plans. Consequently, banks are reluctant to grant loans to small businesses. Blockchain, an emerging technology can be leveraged to provide a solution to this challenge. One of the most highlighted use cases is the utilization of ICO’s to fund projects in this space.
What is an ICO?
An Initial Coin Offering, also commonly referred to as an ICO, is a fundraising mechanism in which new projects sell their underlying crypto tokens in exchange for bitcoin and ether. It’s somewhat similar to an Initial Public Offering (IPO) in which investors purchase shares of a company.
ICOs are a relatively new phenomenon but have quickly become a dominant topic of discussion within the blockchain community. ICOs are easy to structure because of technologies like the ERC20 Token Standard, which abstracts a lot of the development process necessary to create a new cryptographic asset. Most ICOs work by having investors send funds (usually bitcoin or ether) to a smart contract that stores the funds and distributes an equivalent value in the new token at a later point in time.
æternity Africa will be showcasing an ICO Launchpad platform that would enable SME’s raise start up and scaling capital through an Initial Coin Offering.
keynote presentations on blockchain and cryptocurrencies
Panel discussion – Initial Coin Offerings: What are the consequences after the boom?
New Investment Age: Challenges & Positive effects
Demonstration: æternity Africa Crowdfunding Launchpad
Date: Thursday 24th November 2018
Location: The Mint Hub, Western Heights Westlands, Nairobi
Only limited slots available
Register to attend the event here.
for more information, you can also get in touch with
COO, Aeternity Africa
Twitter: æternity Africa