Electroneum, the British based blockchain, will be launching an in-app electricity top-up feature across four African countries to support digital payment projects for electricity in Nigeria, Senegal, Mali, and The Gambia.
What this means for Nigerians: The electricity payment platform will allow Electroneum app users to recharge their electricity meters directly from the app installed on their mobile phone by paying in Electroneum tokens.
What is Electroneum; Electroneum is a blockchain-based payment system created specifically for use on mobile hardware, like smartphones. It is believed by many to be the first Anti-Money-Laundering (AML) compliant and ‘you are your customer’ cryptocurrency. Electroneum’s crypto is mined from your smartphone with ease.
How can I buy Electroneum? This cryptocurrency can be bought from several cryptocurrency exchanges like Liquid, and Huobi. Each cryptocurrency exchange offers diverse ways of paying for Electroneum so be sure to check what payment options are offered to you.
However, while Electroneum has been expanding around the globe with its different payment projects, some of its users do not find these exciting, partly due to the depreciating returns on the cryptocurrency in recent months.
According to data obtained from Coinmarketcap, Electroneum ranks 64th as the most valuable cryptocurrency in the world, with a market capitalization of about $95 million dollars, trading up by 5%, with price at $0.0093 at the time this report was drafted.
Their collaboration with non-governmental organizations in these countries is a potential way of boosting the wider use of cryptocurrencies. Electroneum told Cointelegraph in a note that:
“By working with NGOs (Non-Governmental Organizations) on the ground in developing nations, we are achieving true adoption of a cryptocurrency. We are enabling people and allowing them to join the global digital economy for the very first time.”
The report also added the fact it would help minimize trade barriers and help freelancers earn a living.
“More importantly, we want to ensure that the vast number of highly skilled unbanked people of the world have an opportunity to join the global freelance revolution.”