Nigeria is country with an estimated population of 200 million people. An oil rich nation in the sub Saharan Africa, however one of the problem that its entrepreneurs has always encountered is “Financing for their business”.
There comes Elesarr, a decentralized crowdfunding platform built with the aim of “helping individuals bring their dreams to a reality by eliminating their financial worries through crowdfunding.”
Speaking to the Cresthub Correspondent in the capital of Plateau State Nigeria, The Co-Founders affirmed that the unique nature of “Elessar” is its decentralized feature, which helps the platform maintain its Transparency.
Goodness Chinemerem Okafor who is the CEO, further stated that with a KYC verification already made available on Elesarr, it will help check fraud and make sure that Elesarr lives up to core-values of the organization which is “Transparency”.
This transparency is provided by our smart contract, He said. The Smart contract will store the campaigns, funds and when all the goals are met; this includes project deadline and goals. The Funds are then sent to the creator of the campaign. All the above stated processes is automated by the Smart Contract.
The CTO, Emmanuel Nduka Furthered added that with Elesarr, individuals can donate to their favourite charity using Ethereum without much hassles. He also stated that Elesarr has a payment gateway feature that allows users exchange their Fiat currencies (Dollar, Naira etc) and other crypto -currencies for Etheruem. Currently every donation carried out on the platform is done with Ethereum.
When the COO, Nwobodo Johnpaul was asked about the future of Elessar, he replied by saying that the company aims at expanding into other countries in Africa with early adopters. An expansion to Asian is not also out questioning, however the company’s main aim to grab a strong market share in Nigeria.
With crypto-currency gradually gaining Mass adoption, this is a movement in the right direction.