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Boom publicly unveils in Nigeria

By Eniola Daniel
07 October 2022   |   2:43 am
In its quest for financial inclusion, the social e-commerce platform, Boom, has publicly been unveiled in Nigeria.

In its quest for financial inclusion, the social e-commerce platform, Boom, has publicly been unveiled in Nigeria.

The announcement followed its launch in July 2022 in Lagos to deepen e-commerce among Nigerians.

Founder/CEO of the platform, Peter Alfred-Adekeye, observed: “Boom is where privacy is ensured. Secure conversation is guarded and we have a global form of exchange, which is Multicoin. We do not sell or buy anything, we are only a platform to get people who buy and sell to get connected.

“Boom is blockchain-powered e-commerce without banking application. We went live on October 1, 2022.

“Boom has four ecosystems that make it such an important app for the day-to-day life of a Nigerian. It consists of the Boom Marketplace, where consumers discover products and services from local, national and global brands and merchants. On Boom, we are all merchants.

“We have the Boom Wallet for sending, receiving and storing money, as well as paying for goods and services locally, nationally and internationally. Boom Chats for ultra-secure text, audio and video communication and Boom Social for community building and management.”

On the safety of the innovation, the CEO noted: “To ensure compliance with local and international regulations, all Boom users must go through KYC at signup, by taking a selfie with either a government-issued identity card, driver’s licence or passport after which their Boom accounts are activated.”

He continued: “As a free and open ecosystem, Boom can be used for consumer-to-consumer (C2C) money transfers, business-to-consumer (B2C) payments, business-to-business (B2B) transactions and also Government-to-Government (G2G) financial exchanges, especially intra-African and cross border settlements.

“There are no fees of any kind on all transactions within Boom and neither are there any advertising.

“Boom’s native utility digital token that transmits value between transacting parties within the Boom ecosystem is the Multicoin (MTCN). It is an ERC-20 token that resides within the Ethereum blockchain. The Multicoin processes all transactions within Boom by automatically converting fiat currencies between transacting parties. This way, a merchant or consumer in Nigeria can purchase goods and services internationally by simply converting the Naira into Multicoins via Boom-certified resellers nationwide. On Boom, everybody can be a Multicoin reseller.”

“Thanks to Boom. Financial inclusion for all Nigerians and Africans is now a reality.

“The application can be downloaded for free in both IOS and Android in the Apple Appstore and Google Play store. Boom is available in Hausa, Igbo and Yoruba in addition to English, French and Spanish.”

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