Entrepreneur Vows to End Poverty in Nigeria with Blockchain within 9 Months

A young entrepreneur has vowed to use blockchain technology to lift Nigerians out of poverty if given a chance.

In an open letter sent to the country’s antigraft agency, the Economic and Financial Crimes Commission (EFCC), Omota Omotade-Sparks Amos Sewanu, promised to employ Facebook’s Libra-like technology to solve the country’s endemic poverty.

The indigene of the coastal town Badagry, Lagos State, announced he has built a “Nigeria-To-The-World Blockchain (iBLedger)” capable of ending the multidimensional poverty in Nigeria within a very short time.

According to him, his IBLedger technology has the potential of ending poverty in any country within 6-9 months. Sewanu in the letter averred that IBLedger will compete with the likes of Facebook’s Libra, Telegram’s TON & Gram, Bitcoin, Ethereum, Hyperledger and other blockchains in the world.

The young developer said he’s starting with iBNaira for Nigeria as the first foundational token and will move into other countries as soon as time permits.

“The powerful thing about this charitable-blockchain is that 1, iBNaira can generate a minimum of $847 Billion Dollars for the Nigerian Government,” Omotade-Sparks said in the open letter to EFCC.

“iBNaira can end poverty in Nigeria in 6-9 Months paying every single citizen including babies born every day a minimum sum of N120,000 Monthly.”

He maintained that the Poverty Eradication And Smart Urbanisation Scheme embedded in iBNaira is to kick off on the 12th of November 2019, a day that coincides with his birthday.

The young entrepreneur said he has applied for SCUML under the name “iBSmartify” and waiting for the certification.

Nigeria is one of the poorest nations in the world. In a June 2019-released Multidimensional Poverty Index (MPI), the number of those that are multidimensionally poor in the country has heightened from 86 million to 98 million in the past decade.

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