By A.B. Kafui Kanyi, GNA
Ho, Jan. 20 GNA –Telos blockchain network, a
leading player in blockchain technology is gradually transforming the local
economy offering business solutions to enterprises and developers in Africa.
The network, built to power the next
generation of global economies makes it easy for different businesses in
different sectors to create a trusted and universal medium to store and share
data.
Mr Blaise B. Bayuo, Chief Executive Officer
(CEO) and Co-founder, Sesacash, a local partner of Telos network, in an
interview with the Ghana News Agency (GNA), said the network was suited for
building decentralised financial application in the areas of digital loans,
financial asset transfer and cross-border transactions towards financial
inclusion.
He said the network provided unique
opportunity for securing and tracing movement of goods in the value chain
industry, allowing third parties “to trust and use this information”.
Mr Bayuo said the network had an immutable
public voting system that could enable national and local elections to be
deployed and monitored using the Telos network.
He said Non-Governmental Organizations
(NGOs) could also use Telos network to share their reports and pay field
workers openly with opportunity for donor partners to verify and monitor
project status and implementation.
Mr Bayuo said operating on Telos blockchain
was free with reduced overhead cost for companies and invited banks, hospitals
and pharmaceutical companies to explore the opportunity for rapid growth.
He said Telos had an active developer and
resource ecosystem to meet clients’ needs and allowing them to test servers to
build prototypes before launching live applications.
Mr Bayuo said up and coming developers could
also take advantage of grants from Telos Foundation to develop application on
Telos network.
He said Sesacash.com app, a multi-currency
platform where individuals and companies could send and receive payments across
Africa, for instance, was running on Telos network.
Mr Bayuo said another app being implemented
on Telos is “Seeds” or “Joinseeds.com”, which allowed NGOs and individuals to
earn money by engaging in environmental regenerative activities such as
planting trees.
He said it was a reward based financial tool
to encourage people to engage in valuable activities for ecological and social
regeneration.
Mr Bayuo said another app is Havuta, built
to help NGOs in their operations and bringing smartphone and blockchain-based
solutions to the data collection challenges facing the development sector.
“It
creates a blockcahin-based feedback loop benefiting NGOs, engaging their
beneficiaries, and promoting transparency,” he said.
GNA