CLOUT, the blockchain-based social media platform that offers monetized rewards to users for community interaction, has joined other blockchain outfits to sponsor the Nigeria Merchant Adoption Workshop. CLOT became the fourth company to sponsor the two-day Training session for merchants looking to adopt cryptocurrency payments.
CLOUT comes on board as a Bronze Sponsor with the interest of spreading platform awareness in Africa. Speaking to Core Media, Sean Kirtz, Founder, and president of CLOUT highlighted the need to reach out to African communities in this era of rapid blockchain evolution and growth.
“The CLOUT platform is equipped towards solving the issue of scams and spam in social media, and it will possibly replace Facebook by incentivizing users by sharing revenues with them… we don’t intend to leave Africa out,” Kirtz told Core Media.
Kirtz has strong conviction that, with the internet estimated to contribute at least $300 billion to Africa’s GDP by 2025, social media could offer almost $230 billion to Africa’s remarkable growth by that time. He says:
“We want the presence of CLOUT to be felt in Africa as social media is increasingly transforming the way business is handled in the continent today. More importantly, we’ll give Africans the opportunity to invest in CLOUT also.”
The main sponsor for the event is Core Media, as the Gold Sponsor. This gives the workshop events major support from the most resourced blockchain and fintech media outlet, by providing access to funds and publicity.
BitcoinChaser and Bitpaya are also minor sponsors providing funds and technical support. There is still time for other players in the blockchain space to come onboard as sponsors, and CLOUT hopes that others will follow in their footsteps.
About the Merchant Adoption Workshop
Africa Blockchain University, an affiliate of Core Media in conjunction with the Bastiat Society of Nigeria, is putting together a two-day workshop for a hundred Nigerian business operators and merchants. The event is packaged to equip small local businesses – such as operators of restaurants, hotels, gas stations, estate agencies, Travel & Tours, supermarkets, and online car rental providers – as well as small & medium enterprises, to accept cryptocurrencies as a form of payment for goods and services.
Nigeria is one of the four African countries where cryptocurrency adoption is picking up remarkably. The West African nation is home to over 200 million people and counted among the entities where institutional corruption and monetary mismanagement has ruined lives while impeding wealth creation.
In August, the Central Bank of Nigeria endorsed blockchain technologies, announcing that it has instituted four committees to look into the technology, in order to formulate policies to enhance adoption of cryptocurrency. There is no doubt the country, and indeed much of the African continent is ripe for widespread adoption of cryptocurrencies. CLOUT believes that conferences such as the NMAW are a major step forward in paving the way towards this sort of future, and are proud to do their part in making this future a reality.