iBSmartify Nigeria under the umbrella of Inks Blockchain Foundation (InksNation.io) introduces Nigeria’s first blockchain called iBLedger (Blockchain For-Social-Good) which can end poverty in any country in six to nine months by paying every single citizen a minimum of N120,000 Monthly for life as Universal Child Basic Income.
A blockchain which was originally block chain, is a growing list of records, called blocks that are linked using cryptography. Each block contains a cryptographic hash of the previous block, a time-stamp, and transaction data (generally represented as a Merkle tree).
By design, a blockchain is resistant to modification of the data. It is “an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way.”
Business Hallmark gathered that iBLedger is not built on ethereum, bitcoin or hyperledger rather it is a stand-alone blockchain and will be a Nigeria-To-The World blockchain, competing with the prior mentioned including Facebook’s Libra and Telegram’s TON and Gram “because it is Nigeria’s time to show the world what it has to offer.”
iBLedger as a charitable-blockchain is also the first blockchain in the world to be backed by the biggest but mostly forgotten asset class called Human Asset and it aims to correct the errors of money by aligning the value of all its crypto-currencies (coin and tokens) with the birth rate, death rate and population of that nation in a strategic way, which makes every government value the lives and existence of her people, extensively correcting the errors of governance.
It uses a new consensus mechanism known as Proof of Love, a Strategic Global Abundance Monetary Policy and a governance model called Inkrestation (One United Global Family system of governance) which helps to achieve inksNation’s extended goals of promoting oneness, love, peace, unity and equitable distribution of wealth.
iBLedger strongly centers around cashless transactions and is one of the best ways for any country to go cashless with benefits, making it easy to attain global inclusiveness.
iBLedger can also be seen as an advanced accounting software database with benefits which makes it possible to record anything of value or any type of asset immutably and it will achieve unlimited scalability because of its blockchain without mining protocol.
Speaking to Business Hallmark, CEO iBSmartify, Amos Omotade-Sparks said, “Our native coin is called iBCash and based on our mission to run a Poverty Eradication and Smart Urbanisation Scheme starting with Nigeria, therefore the first token to be built on iBLedger is iBNaira and it will end poverty in Nigeria before October 2020, paying every single Nigerian including babies born daily and everyday a minimum of N120, 000 monthly for life as Universal Child Basic Income.
This is very important at a time like this in the world where machines and artificial intelligence are taking away lots of jobs from the masses and in the year 2025 80% of jobs will be controlled by AI increasing the unemployment rate and also increasing the crime level noting that the major cause of crime in Africa is poverty. This blockchain is prototyped in such a way that every single human existence acts as an asset that caters for his or her own needs.”
He further stated that “iBNaira will make the rich richer and the poor rich, stepping everyone one or two steps up the ladder of riches and it will generate a minimum of $843 Billion in iBReserve (iBNaira’s Reserve) for the government which is very possible because of the human asset population of Nigeria.”
As a utility token he said they will be investing 85% of income on Aba Market, Livestock Farming, Build Vertical GreenHouses Nationwide, provide 21 Million Smart Homes solving the housing crisis (5-7 Smart Cities Per State) Gyroscopic Transportation for public transportation and lots more.
According to Omotade-Sparks, the combination of Blockchain Technology, Internet of Things and Artificial Intelligence is Africa’s opportunity to compete afresh with the rest of the world because this trio put the world back to factory setting and the next world leaders will be determined by the power they possess in these technologies.
Their aim is to work with iBNaira for Nigeria as a live testimony before moving on to render their iBLedger Services to all African Nations/Developing Nations, India, Haiti, El Salvador and the world at large.