At 11:00 on June 2, Singapore time, Stanley Chukwuma A, CEO of NIRX CoFounder and Elected, visited ZT Club and talked to Joelle L, the business manager of ZT Club, to share NIRX with users and discuss the development of stablecoins and the value of NIRX in the current market.
At the beginning of the live broadcast, Stanley briefly introduced NIRX to users. NairaX (NIRX) is a BEP20 digital signature based asset developed on Binance’s Proof of Stake (POS) consensus system and backed by the company’s large holdings of Nigerian Naira (NGN) and Bitcoin assets.
Significantly different from other projects, NairaX (NIRX) is a blockchain entity registered in Nigeria (RC-2903759), and was developed by NBPS (full name NIRX BLOCK PAYMENT SYSTEMS, parent company), directly with the 1:1 ratio. An African stablecoin pegged to the Nigerian naira fiat.
NIRX is also the operating currency of the MVP e-commerce platform (market.nirxblock.com), where users can exchange goods and services while completing payments in NIRX tokens. Thanks to this move, the e-commerce ecosystem has flourished. Currently, the e-commerce ecosystem is currently valued at $2.4 trillion and has little competition when it comes to crypto utilities.
As we all know, the third world economies (such as Nigeria) suffer from the legacy of the traditional inflationary economic model, and the development of the market economy has not been satisfactory. In order to create a unique niche, NIRX has been researching blockchain technology since 2017. Compared to other continents, the African e-commerce sector is currently much less competitive. Due to the unbanked nature of the economy, Nigeria offers the most fertile niche for cryptocurrency adoption and adoption.
In order to fast track the adoption of cryptocurrencies, NairaX has been working on providing free cryptocurrency education, workshops dedicated to spreading cryptocurrency knowledge in Nigeria and across the African continent.
To achieve this goal, NairaX has followed the roadmap in an orderly manner so far. In December 2022, NairaX will launch a mobile application to expand to other surrounding African continents and eventually to the world; in the first quarter of 2023, NairaX will launch an NFT project, enabling sellers on e-commerce platforms to animate in the form of NFTs Their managed products, coordinating partner and investment relationships.
Compared with the two stablecoins USDT and BUSD, NIRX uses the Nigerian African pact with Naira and BNB assets as collateral, while the latter two are collateralized with US dollars. This is very helpful for the team to keep the price of NIRX stable.
And for lower gas costs and a more stable and smooth user experience, NIRX has been successfully replaced with a bsc contract.
Stanley believes: “Compared to ERC20, the BSC network is a very developed blockchain with lower fees and more stability. During our reign built on the ERC20 mainnet, users and investors had to deal with high gas volatility , we have to pay a huge price for it.”
The value of NIRX is obvious to all. In order to facilitate more users, the ZT trading platform has successfully launched NIRX, and users are welcome to trade~
In the future, NairaX may become one of the most popular stablecoins in the entire industry!
Introduction to ZT Club
ZT Club is an independent media comprehensive service platform and club operated by ZT Global.
ZT Club mainly integrates blockchain-related content such as project incubation, community integration, activity expansion, and industry education. Committed to promoting the vigorous development of the blockchain industry and building an industry ecosystem. Since its launch, it has invited a number of well-known industry celebrities, rookie blockchain projects, capital institutions, popular communities and other guests, and successfully carried out multiple live broadcasts.
In the future, we will continue to bring new traffic, new resources, and new ways to play with the blockchain from time to time in the form of voice, video, and audio.