Blockchain Pioneer’s Background
In an exclusive blockchain personality interview, Peter Alfred-Adekeye, the visionary behind Boom, shares insights into his background, his journey into blockchain, and the driving force behind the creation of the Boom ecosystem.
With a civil engineering background from Obafemi Awolowo University, Peter’s venture into advanced courses in the United Kingdom laid the foundation for his blockchain endeavors.
Genesis of the Boom Ecosystem
Around 2008, Peter founded a private social intellectual network consisting of 1000 brilliant minds in cryptography and security research engineering.
This network served as a collaborative space to discuss and solve real-life problems, sparking the inception of the Boom ecosystem.
Boom’s Mission in Africa
Launched just six months ago, Boom emerges as a comprehensive super app designed to address financial disparities in Africa.
The ecosystem encompasses the Boom Marketplace, Boom Wallet, Boom Talks, and Boom Hose, providing a holistic portal for users.
Central Role of Boom Wallet and Boomcoin
At the core of the solution is the Boom Wallet, complemented by Boomcoin (BMC), the ecosystem’s native currency.
Boomcoin acts as the technological facilitator for seamless instant transactions, essential for unbanked individuals engaging in online buying and selling.
BoomPay: Bridging the Payment Gap
BoomPay, an online payment gateway solution, caters to merchants and brands with pre-existing online marketplaces.
It enables them to accept payments from unbanked customers using an easy-to-integrate SDK. This innovation opens the door to previously untapped consumers.
Revolutionizing Online Transactions
Explaining the functionality of Boom in simpler terms, Peter Alfred-Adekeye emphasizes that almost two billion people globally lack bank accounts, hindering their ability to make payments.
Boom’s system allows users to create accounts, establish merchant profiles, list goods and services, and conduct transactions seamlessly.
The involvement of Boom Agents facilitates cash transactions for users without bank accounts.
Blockchain Technology for Decentralization
Peter underscores the use of blockchain technology for decentralization and the creation of a digital currency within the application.
An AI software generates credit scores for Boom wallet addresses, providing users with potential access to loans on the platform.
Compliance Measures and Future Plans
Emphasizing compliance, Boom incorporates KYC, KYB (Know Your Business), and KYT (Know Your Transactions) features. Funds are held in escrow until goods are delivered, ensuring protection for both customers and merchants.
Africa-Centric Approach
Boom has initiated its journey in ten African countries, including Nigeria, South Africa, Congo, Ethiopia, Zimbabwe, Angola, CAR, Egypt, and others.
The company aims to involve each country in the ecosystem, allowing liquidity providers to create tokenized currency pools.
This approach injects liquidity into local currencies, facilitating trades within the region.
Empowering Nigerians in E-Commerce
Peter Alfred-Adekeye highlights Boom’s significant impact on Nigerians, enabling them to buy and sell on the internet worldwide.
Notably, users can transact without relying on hard currency, presenting a groundbreaking solution poised to enhance the economy, stabilize currency, and empower individuals for success.
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