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Just because we don’t believe or understand something doesn’t mean it does not exist. 

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This post is a followup on a discussion I had on a LinkedIn post about the future of Bitcoin and it’s cousins (Altcoins).


I am a doctoral researcher and have been studying the concept of value, perception and technology adoption challenges for the past 3 years and have made me study some interesting concepts about money, digital technology and the internet. 

Let’s start with Money.

What is money? In simple terms, money is a store of value and medium of exchange. 

What has value? Something we collectively perceive and jointly agree is useful, and we assign value to it. 

How do we assign value ?  we allow it to swim through the principles of demand and supply, following the simple economics concept of the higher the demand the higher the price.

Is the Dollar then valuable? If yes, how?

Dollar used to be backed with Gold, the standard until August 15, 1971, when President Richard Nixon stopped holding 1 ounce of gold for every $35. We can argue that America saw that he had won the battle of supremacy against the world powers of the day, and stopped storing up Gold as backup to every dollar printed. Since everyone has perceived the Dollar as a good store of value and medium of exchange the perception continued and the dollar was believed to be a good store of value and unit of exchange.

Most people do not realise that Money is a social construction and not a physical commodity, unfortunately, they see money as a physical commodity, and this explains why they don’t understand or believe digital money (cryptocurrencies) by trying to understand money from a physical asset perspective. They believe something must back it up, but President Nixon realized that money is what we call it and not what backs it up and promised the world that America’s name is enough to back up the US dollar, interestingly, China has realised this and racing aggressively to upturn this with its investments all over the world.

I hold a couple of cryptocurrencies for 2 basic reasons: store of value with protection against Naira’s devaluation and as an investment portfolio (far better than stocks).

Back to the discussion, Can E- yuan crash the price of BTC and its cousins?

I believe e-yuan cannot serve well as an investment vehicle, with the plethora of Decentralised Finance (DeFi) Applications built on diverse blockchains, a stable coin pegged against a fiat currency will not be an investor or traders choice, rather a means of payment, unit of account or store or value, so I believe it will only compete with tokens in the name asset class like USDT, USDC BUSD, DIA etc.

The next interesting angle subject to debate about Cryptos is its intrinsic ability to make people lose money! 

But let’s compare it with stocks. Smart investors buy stocks because they believe the company will produce better product and when they do well in the market, then the prices of the stock will soar (speculation), similarly holding non-stable crypto like eth, bnb, xrp etc in anticipation that the underlying problem the blockchain technology is solving will enable it to scale and enable the token to see glory. This domino effect makes the price of the coin to appreciate. This process is also speculative and hinges on the same concept of making money from stocks. 

So if stocks aren’t going away why will crypto?

Unfortunately, just like stocks, there are pump and dumps which leads to hyper volatility (Madoff: MMM kind of Ponzi investment scam) causing investors to lose tons of money and a few making massive profit.

The inefficiencies of trade by barter lead to money, and we have been seeing a revolution afterwards. It started with money 1.0 (copper coins and cowries) to money 2.0 (paper money/fiat) and then money 3.0 (debit/credit cards, paypal, alipay etc), the same inefficiencies of money 3.0 such as huge cost of printing and distribution, and government printing at will leading to inflation, devaluation triggered the need for a better money (money 4.0).

Central banks, Deposit Money Banks, Investment companies and Government being custodians of money 3.0 resisted money 4.0 just as Jesus and Christianity was resisted by the Romans, but that didn’t stop the spread of Christianity.

We can see a shift in the resistance and they are unwillingly accepting the reality and embracing the need to adopt digital currencies. With time, there will be mergers and acquisitions and the men would be separated from the boys, with cryptocurrencies solving real problems standing the test of time.

These news herald the Tsunami, Cryptocurrencies and indicates that a shift in global finance is coming

1. Tunisia’s Economy Minister To Decriminalize Buying Bitcoin

2. Paypal as started accepting cryptocurrencies

3. Morgan Stanley becomes the first big U.S. bank to offer its wealthy clients access to bitcoin funds


4. El Salvador becomes first country to adopt bitcoin as legal tender after passing law

5. Ethiopian schools will use the Cardano blockchain to track student performance


With more interesting news about blockchain and crytpocurrecies, the continued bearish market outlook since the 18th of May, 2021 which many people linked with the clamp down on cryptocurrencies in China and launch of digital currencies by China will upturn the perception that the value of Bitcoin and all other altcoins to plummet.

I strongly believe the value of bitcoin will shoot up as opposed to the prediction of crashing price of bitcoin. More CBDC will cause a Cambrian moment for cryptocurrencies adoption, as more people will be aware, use and accept cryptocurrencies as a legal tender. El Salvador has positioned itself as first country to accept bitcoin as a legal tender more will follow suit as it would definitely not be the last.

Prof. Ekekwe argues in a LinkedIn post that:

The prices of bitcoin could go up but if it continues to lose 50% of its population in China, we should expect gravity to be sustained! (prices coming down)

My response:

Considering the technology adoption model, the worldwide cryptocurrency adoption is still under 10%, but once the frictions of adoption are reduced, and adoption attains say 40% we expect more counties to compete in market share adoption and potentially losing China may not fully sustain the gravity ( crashing of bitcoin prices).

Interestingly, cryptos will reduce some of the associated issues of fiat but lead back to the same problem crypto promised to solve which was decentralized finance, as governments will regain a major grip on control through CBDC and minor grip in the hands of wealthy citizens like Elon, however, they only won the war, they didn’t win the battle, as tons of poor guys like me would have made a shit ton of money (Hahahahah), they used power to print money at will, we also went ahead and printed ours but they can collect the control back from us but not the money we have made and life can returns back to normal.

I will the way Prof Scot Galloway puts it:

Democracies lose when the wealthy evade taxes, or when organized crime can easily move and store capital. A decentralized financial system runs the risk of neutering enforcement. 

A major take away of the decentralized finance promised by blockchain and cryptocurrencies will be a more transparent global financial institution that will be berthed and enforced with digital currencies.

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blockchain in Agriculture

The applications of blockchain are endless; every day we hear of new innovative ways blockchain technology is used to make transactions more secure with ease.

Blockchain technology uses a network of computers, connected to each other to keep and verify records of data. Each computer on the network stores a block of data which is linked to another computer, where another link is stored thereby forming a chain. Each of these blocks can only be accessed using a key, which makes it secure. More also data cannot be changed from any of the blocks on a computer without applying the same changes to all the other computers.

For example, when a transaction is made on an ATM of say Bank A, from someone who has an account with Bank B. The ATM checks if the requested amount is available in the user’s account before issuing cash. It goes on to pay from cash at hand in Bank A. then later reconciles account with Bank B.

However, with Blockchain technology, each ATM has real time data of information on all bank accounts. It only needs access keys to initiate a transaction. And once the transaction is completed, a new data is added to the block. This instant syncing of information is done on all bank computers and ATM machines simultaneously.

Due to its speed, security and reliability. Blockchain has been utilized in varying sectors, to resounding degrees of success. There have being calls for the technology to be applied to agriculture to help solve prevalent problems plaguing farmers around the world. These are 5 ways Blockchain technology can be implemented in agriculture:

Farm Data Monitoring

With blockchain technology, farmers have an opportunity to capture farm data in real time that would help them plan production effectively. Sensors can be utilized on farm to gather data on planting practices, crop growth, harvest and yield and have all of these data recorded into a blockchain.

Each piece of data recorded into the blockchain would be secure and can be easily accessed from any computer without being on the farm. For example, a device such as water gauge sensors (with IoT capabilities) can tell a farmer the level of water available to plants on farm, from the comfort of his home.

Over-time, this information can be accessed by banks, financial institutions and investors to track a farm’s viability, strength and monitor investments.

Better Transactions.

Transactions cannot be separated from agriculture. Just like in every business, a farmer needs to monitor and control sales of his produce to avoid being exploited. Blockchain makes it easier for each party to keep track of transactions and issues arising with payments.

For example, traditional method dictate a buyer and seller agree on payment before delivery or after. But with block-chain payment can be initiated as soon as goods are transferred, minimizing occurrences of fraud and ensuring each link in the supply chain is satisfied.

Track Crop Production.

Creating blocks having records of data associated with the production of a particular crop can be useful during purchase. For lovers of organic food or buyers with specific dictates, blockchain can be used to trace origin of food production. With every step of the process recorded, a buyer can view different sets of data such as variety of crop, when it was planted, type of fertilizer used, chemicals used and even up-how long produce was stored for.

Issues in quality assurance for crops being exported can be controlled easily, as exported products can be easily traced back to farmer.

Control Pricing.

Every year crop prices fluctuates due to a wide number of factors. Weather, increase in demand, production levels, access to market for farmers are all different variables that can dictate the price of a crop in the market. Blockchain can help farmers and buyers to negotiate prices better.

With information on previous sales history and prices of goods in other locations, farmers can easily determine what their goods are currently worth and sale it to buyers at a price that reflects the market. 

Monitor and Subsidies Disbursements.

Every year governments and agencies create programs to restructure agriculture and help farmers boost productivity. From sale of subsidized fertilizer, loan disbursement, to provision of improved seeds and other farm inputs, farmers benefit from donor agencies and government.

However, these programs are usually marred by the fact that they serve as an avenue for corrupt individuals to enrich their pockets at the detriment of farmers. Using blockchain technology, disbursement of Agric inputs and loans can be tracked to ensure each item is received by a farmer that has a record in the database.

Farmers would be unable to collect multiple items, as each transaction is confirmed before initiation. This would ensure transparency and help farmers benefit fully from structural programs in agriculture. 

Technology in Agriculture is developing at a fast pace, with new and modern platforms being used to solve problems in agriculture. To solve many of these problems however, we need a structured program in place to help farmers keep record of occurrences on farms. Using this platform, stakeholders can determine how best to help farmers and contribute to the agricultural sector.

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steps to invest in crypto bitcoin eth bnb

Cryptocurrencies are here and they are changing the way we pay and store money, but it also have a means of making money for us, even while we sleep. But how can you make money by just buying, keeping and selling cryptos?

Unlike most other businesses where value is created from tangible assets, in the cryptocurrency world value is created from intangible assets, the More Users on a particular blockchain = More Value it would command. As more people are buying, trading and storing a particular crypto (e.g. BTC) the more the price rages north and breaking all time highs (ALT) as evident in BTC, ETH and BNB. They have been breaking their record ATH’s.

If more people are using your blockchain (e.g Binance Chain has seen over 3000% growth in the past one year), and keeps growing in value. More users = more value. But because blockchains have network effects, the value doesn’t grow in a linear fashion (like most things we experience), the value grows geometrically and with compounding effect.

Typically there are 3 simple ways to make money in Crypto (Trading, Yield Farming and Investing) as I have earlier posted here. In this post I will quickly explain how to make money in crypto in 6 Steps simple steps:
1. Discover a new or bullish token that the price is soaring
2. Research conduct you own research, not everything you read on the internet is true, make sure you know why the price is soaring and the people behind the token
3. Take action: decide if it is worth your penny or vault
4. Believe: believe in you action and hope for the best
5. Patience: not all actions or purchases yield result instantly, some require from grit and tenacity to hand on
6. Cashout: have an investment philosophy and don’t be greedy (know when to say I am okay with the proceed that you have earned, a times the prices might go bearish in a tinkle of an eye and all earnings becomes potential profit), convert your earnings into BUSD, USDT or USDC and REPEAT the process again.

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the future of money

Fiat money and our present culture of saving fiat currency in banks is now primitive. Technology and the internet has blessed us with new ways of making and saving money. Cryptocurrencies does not only give us the opportunity of saving financial assets, it also enables settlement of financial transactions while providing disruptive means of getting old things done in new and more interesting ways.

Some business executives argues that blockchain is only useful for trading speculative currency, however, because you do not understand something does not mean it does not exit and because you cannot explain it does not mean it’s not real. From Millennials (Gen-Z) to Baby Boomers, human race has not witnessed an era like this where you can make money, tons of it, while sleeping by just doing some basic research and putting a number of structures in place.

While China and Japan are taking the lead in creating a digital version of their country’s fiat currency, other commercial banks and central banks are prohibiting the use of these inevitable tool, that will disrupt the way we perceive and settle value after we received a service or buy a product.

From my foray into the Cryptocurrencies/programmable-money world powered by blockchain, (immutable and distributed ledger system) it allows us to earn money in 5 ways;

  1. Cryptocurrency trading
  2. Cryptocurrency investing
  3. Cryptocurrency yield farming
  4. Cryptocurrency mining (PoW)
  5. Cryptocurrency Node Validator (POS, DPOS etc)

I recommend the first 3 simple ones for beginners and I also understand that adoption of any of these 5 methods is based on one’s financial philosophy.

Let stop here. In part 2, I will discuss these 3 categories into details.

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