A Nigerian entrepreneur is claiming to have the solution to poverty and he isn’t being protective about the information.
In a letter to the Economic Financial Crimes Commission (EFCC) on Twitter, he stated his ‘intention as the CEO of iBSmartify to eradicate poverty in Nigeria in the next 6-9 months’. His path to this solution? He calls it the World blockchain (iBLedger).
What is iBLedger?
On his Twitter account, Omotade-Sparks Amos Sewanu, the CEO explained iBLedger. He described it as Africa’s First Standalone Blockchain & World’s First Charity-Blockchain (Blockchain-For Humanitarian-Services). The CEO went on to mention the initiative will be Nigeria’s solution to poverty.
Among the other ambitious claims, Sewanu said the scheme can generate a minimum of $847 Billion for the Nigerian Government and pay each Nigerian including newborn babies N120,000/month.
If these promises are to be taken seriously, then a conservative estimate of 180 million Nigerians would get over 21 trillion Naira (21, 600 000 000 000 or over $70B) in a month. Let’s not talk about in a year. And that’s not even the sort of number you call conservative by any standards.
The path to eradicating Poverty?
How this scheme, which the CEO swears isn’t a scam will do all of these lofty things is yet to be explained. Sewanu thinks, in a let’s clear the air moment, the EFCC should get the heads up first though. Interestingly, the Countries apex bank is yet to be clued in. Other investment strong towers seem to have not themselves, been so courteously apprised of the new blockchain initiative.
Apparently, Nigeria is about to experience a financial windfall of market-shattering, economic-shifting, hurricane proportions.