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eNaira Charting the Course for Financial Inclusion on its One-Year Anniversary

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Bitt joins the Central Bank of Nigeria (CBN) in celebrating the one-year anniversary of the eNaira. Since its launch on 25 October 2021, citizens and residents of Nigeria were the first on the continent of Africa to be able to use a legal tender digital currency for their daily financial transactions.

Bitt and the CBN continue to work diligently to roll-out eNaira updates in adherence with the CBN’s published roadmap. The implementation plan identifies three phases. The project roll-out is currently in phase two. In addition to onboarding banked customers and merchants, and integrating and optimizing core banking systems to facilitate transactions throughout the existing eNaira ecosystem, other major achievements include:

  • Unbanked customer onboarding and transactions via USSD
  • Integrations with the National Payment Service for QR functionality and wholesale funds transfer (RTGS)
  • Onboarding of IMTOs and integration of DCMS to exchange Naira
  • Multi-lingual support for mobile applications and USSD
  • SMS Integration with CBN’s SMS gateway service
  • Security hardening

The next phases will include:

  • Onboarding of Nigerian Trade and Exchange platform
  • Sector-specific tokens for grants and subsidies
  • Programmable payments for eNaira payment scenarios

Brian Popelka, CEO, Bitt states “This year has been full of firsts for Africa. Being the first provides the opportunity to become the first to find solutions and to chart the course for others to follow. Today’s one-year milestone is an exceptional achievement for both the Central Bank of Nigeria and Bitt teams. We look forward to continued partnership on this CBDC deployment journey and to provide additional features to expand eNaira’s value to all Nigerians and everyone, everywhere.”

Bitt has ensured that Nigerians play a pivotal role in this project by expanding its global team to include Nigerian engineers, product managers and executives.  Imran Khan, EVP, Partnerships, states, “Utilizing local talent cements our commitment to Nigeria and to the entire African continent as we endeavor to lower infrastructure cost and improve the access and user-experience of receiving and sending money, thereby promoting financial inclusion throughout Africa.”

Blockchain

Correction: CBiGroup Completes $15M Series A Funding, Focuses on R&D

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correction:-cbigroup-completes-$15m-series-a-funding,-focuses-on-r&d

CBiGroup Completes $15M Series A Funding, Focuses on R&D

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Blockchain

COTI V2 changing private play on blockchain via encrypted circuit

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COTI V2 is revolutionizing blockchain technology with private play through encrypted circuits, offering enhanced speed and efficiency. Currently, the Genesis builder network is live, and the company is inviting developers to join their program. The network supports private play upgrades for Ethereum.

As a privacy-focused Ethereum layer 2 solution, COTI V2 employs advanced encryption technology and encrypted circuits, enabling operations on all devices without compromising personal data.

The primary goal of COTI V2, as outlined in its whitepaper, is to address private play issues on blockchains. Developers can protect privacy through encrypted circuits. The COTI V2 Devnet provides a user-friendly, connectible EVM space (gcEVM) using the Solidity programming language.

Additionally, the COTI V2 network offers developers tools for privacy play with TypeScript and Python SDKs, along with EVM RPC, documentation, a faucet, an explorer, and Hardhat.

COTI has received positive feedback from Civic, a provider of Web3 identification toolkits.

The COTI Foundation plans to launch a privacy-focused growth fund, the ABC Growth Fund, allocating 400 million COTI tokens to provide real-time privacy services.

Developers using the COTI V2 builder network can explore use cases such as confidential DeFi, private payment transactions, stablecoins and RWAs, on-chain data control, confidential AI and machine learning, and decentralized identity recognition.

According to COTI CEO Shahaf Bar-Geffen, the COTI V2 builder and developer program is now available to the public, inviting developers to join the network.

Source: cryptonewsz.com

The post COTI V2 changing private play on blockchain via encrypted circuit appeared first on HIPTHER Alerts.

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Blockchain

Justin Sun Emphasizes the Importance of User Protection

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Justin Sun, the founder of the Tron Foundation, recently emphasized the critical importance of protecting users in the cryptocurrency sector. Drawing on the experiences of industry leaders like Jack Ma and Changpeng Zhao, Sun argued that prioritizing user safety above the interests of investors, partners, and employees is essential for building trust and ensuring the sector’s long-term sustainability.

He acknowledged that this focus is challenging but necessary for fostering a secure and reliable crypto environment. Sun’s perspective highlights the need for the crypto industry to evolve in a way that prioritizes user interests. He believes that learning from successful leaders can help guide this process. By adopting these principles, the industry can better protect its users and create a more trustworthy ecosystem. Sun’s advocacy for user protection underscores a broader vision of developing a safer, more user-centric cryptocurrency landscape.

His comments reflect a commitment to ensuring that the industry’s growth is not only rapid but also responsible and sustainable. This approach, according to Sun, will ultimately benefit everyone involved in the cryptocurrency space by fostering greater confidence and reliability in digital financial systems.

Source: blockchainreporter.net

The post Justin Sun Emphasizes the Importance of User Protection appeared first on HIPTHER Alerts.

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