LONDON, Apr 29, 2020 - (ACN Newswire) - As blockchain technology is taking the market by storm and creating exponential
growth, Africa would not be exempted. Delivering blockchain-as-a-service (BaaS) and AI enabled SaaS designed to increase
the efficiency of marine services and land department real estate services for government agencies, blockchain startup
Domineum.io and its founder, serial entrepreneur Geoffrey Weli Wosu, managed to create more than US$5 million for
several African governments during the final 11 months of fiscal 2019.
What makes blockchain technology so powerful? Blockchain's data structure, immutability and tamper detection, data
protection, distributed ledger technology, relative user anonymity, the promise of ever-increasing IT spend, to name a
few. Blockchain technology is already changing the way many segments operate, while its technology market is expected to
grow from US$1.2B in 2018 to US$23.3B by 2023, an annual growth rate of 80.2%.
Ken Griffin, Citadel founder and philanthropist, says, "Blockchain's a very interesting technology that will have very
profound applications for society over the years to come." Vitalik Buterin, co-founder of Ethereum, says, "Whereas most
technologies tend to automate workers on the periphery doing menial tasks, blockchains automate away the center. Instead
of putting the taxi driver out of a job, blockchain puts Uber out of a job and lets the taxi drivers work with the
customer directly."
Blockchain technology allows users to participate in peer-to-peer transactions without involving central mediators,
Financial Services and Insurance (BFSI) logically emerged as an early adopter. But many believe the true value of this
revolutionary technology will be best felt across the developing world. From elections to international remittances,
energy services to alternatives to banking, many issues could potentially be solved by a few principles inherent to
blockchain: transparency and decentralization.
As a distributed ledger, or blockchain, technology company, Domineum Blockchain Solutions was established to assist
Governments and Companies integrate Blockchain into their operations. Headquartered at Level39, London, with an R unit in San Francisco, a technology resource centre in Tallinn, and a current operational base in Nigeria and Sierra
Leone, Domineum aims to disrupt several sectors in the emerging markets and leapfrog the current infrastructure with
blockchain technology.
Domineum.io has quickly become a major developer of AI-enabled Blockchain Solutions for government agencies, financial
institutions, and real estate and marine authorities interested in achieving the agility and capability needed to
compete in current and future markets. In 2019, Weli Wosu and Domineum signed strategic Government alliances with Sierra
Leone and Nigeria's Abia State, producing revenues of more than $5 million within the fiscal year for the Government
agencies.
No stranger to the markets, Geoffrey co-founded Voguepay.com, a payment processing platform established in 2012 with
over 100,000 global merchants today; and invested (Level39) in Analytics Intelligence, an artificial intelligence (AI)
technology start-up that provides solutions for data collection and analysis to a wide variety of customers in Europe,
America and Africa.
Geoffrey studied Business (2006) and Law (2009) at the University of Bolton in the UK, he's an Associate Member of the
British Computer Society (AMBCS), Member of Level39, and author of "E-Government Solutions for the Developing World",
"How to Simplify the Work of Governments in Developing Countries", and "Combining Blockchain and AI to Grow the Global
Digital Economy" (ref:
).