Coinfirm a London-based startup has launched a blockchain network for fraud prevention, in partnership with the technical center in the Nigerian capital KAD ICT Hub that the whole year will conduct educational courses.
The project will be implemented in the joint laboratory of “Africa Blockchain Lab” with the main objective to expand access to financial services, which is a problem on the African continent, where many residents do not have access to banking services. Fraud is especially important in Africa, due to the low level of financial literacy of the population, the head of the Coinfirm Paul Kuskowski:
“Our goal is to increase awareness not only of the threats, but also on ways to reduce risks”
Blockchain network AMLT London startup Coinfirm motivates participants to report suspicious and trustworthy cryptocurrency addresses. Сoinfirm investigates and blocks the addresses upon confirmation of fraudulent behavior. According to Coinmarketcap, the market capitalization of the token AMLT is 1.5 million dollars.
The population of Nigeria, 190 million people, is increasingly drawn to cryptocurrencies because of the high inflation of the local Fiat. However, the level of fraud in the country is above average, therefore the project will also be undergoing special training, said Yusuf Bashir, the head of the KAD ICT Hub:
“We will change negative perceptions about Africa as the hub of online fraud to be perceived as a leader in the fight against fraud in the online environment and build a safer cryptoeconomy”
We will remind that in March the government of the Republic of Nigeria has approved the development of blockchain applications, aimed at eradicating the possibility of forgery of title documents of land cadastre.