Indications have emerged signalling a major disruption to project financing in Africa may be in the works.
Naija News got a lead that a major African brand alongside its international partners are collaborating to develop and launch what may be the first Africa-wide decentralized blockchain-enabled project financing platform.
According to indications, this would revolutionize how projects are financed in Africa and the range of partnerships possible.
The project, according to inside sources, will involve the minting and launching of a new cryptocurrency that will serve as the primary medium of value exchange on the platform.
The new cryptocurrency has the potential to retain value and survive volatility owing to the sound liquidity management system to be deployed, and the real-world assets upon which it will be hinged.
Our sources further disclosed that GIGM and GIGL, both leaders in mobility and logistics in Africa, are solidly behind the far-reaching disruptive project.
Findings revealed that the GIG brand has been on a trajectory of disruption for a long time, innovating to create a future-forward service ecosystem for the African continent.
In a bid to identify the exact DeFi project and the cryptocurrency at play, Naija News stumbled upon gigxpad.com.
According to the website, “GIGX is Africa’s first decentralized marketplace, bringing real-world business opportunities to a blockchain-based environment.”
It adds that the project seeks “to unlock economic opportunities for all by enabling peer-to-peer services, effectively cutting out the middlemen – reducing associated costs in the process.”
Further investigations revealed that the cryptocurrency set to be launched will be branded ‘gigx’.
The foreign partners whose identities are still clouded in secrecy have reportedly committed major funds into the creation of the cryptocurrency.
When this online newspaper reached out to GIG for confirmation, officials refused to confirm or deny the creation of such a project.
Major nations across the world are finally getting to embrace cryptocurrency as a major legal tender.
The world economy would inevitably shift to a digital ecosystem as cryptocurrency is fast becoming the newest and most exciting application to the electronic payment market.