Hey everyone, welcome, welcome, welcome everybody. Let's just give it a minute or two until all of our members join the speaker board and they'll get started just a second.
Hey Leo, just sent you a request.
Here we are. Thank you, Fredji. Absolutely. We'll get started in just a minute. I think we're only missing Chima. Chima just joined. Ben, I did send you an invitation just now. See if you can, if you received it, it can accept please. Otherwise, just send a new request.
Alright, we're just waiting on Ben to join the speaker board and I think he's going to be joining us in just a short minute, but I guess I just get started, you know, seeing a crowd of introductions. So ladies and gentlemen, Algo Famine is an absolute pleasure to be talking to all of you here today again. It's going to be a pleasure to be hosting Leo, Ben and our special guest for today.
So we can hear some updates about the project of Nigeria and collect property project in Nigeria that we're all very excited about. So I'm sure I speak on behalf of the entire agro fam that were super excited to her updates and Leo I truly appreciate you taking the time or spearheading this conversation you know bringing in the
your partners in the project to just come and be close to the community and share all the information and updates to us first hand. So thank you very much. How's it going my friend? How's everything in Argentina? Very good right now. So still learning how to be a dad. That's the toughest of the projects here, but very exciting.
that's happening leaving Argentina today actually. I've placed for a couple of weeks. Oh very nice. So now the dimension is still trying to adjust on being a dead house. Am I doing? Yeah she's turning four months tomorrow actually. So really really
happy to see how that progress that goes even faster than the now grand transaction. That is amazing fantastic but hey congratulations on her turning four months out tomorrow. By the way I think that's good enough of an age for her to get her all all go wallet and become a governor right.
Now we don't have the period open for a new governor's subscription, but definitely it's going to be on the next one. I can't commit to that. All right, sounds awesome. Cool. I mean, hey, I always apply for chat with you. Thank you very much for being here today. And my pleasure. Awesome. And, Olga Femme, by the way, last month, Liwa
I got to hang out a lot together at the blockchain summit of Panama. And fam, I got to tell you I am even more impressed about all the work he and his team are doing. There's so much amazing stuff in the pipeline and honestly, I just have a feeling that if Leo ever decides to write a book on inaugurating, he's going to be a very good
I'm not sure if you saw but the mooch wrote a book on Algrang and released a few days ago but I'm fairly certain after hearing you know everything that you had to share that your stories are gonna beat him all right all right so I'm very excited and maybe this is something you can contemplate no whenever you have some time to write a book on Algrang because those stories are great and I'm sure the Algrang
Well, I don't know if I would go that far in terms of beating Mouge, but I do know that he launched the book. I still have it on my to read the least. But yeah, that's an interesting idea. I know I always had the thought of writing like a cryptolat and book.
on the history of how we develop the different stories that we went through. Definitely algorithms are going to have a huge part after that we've gone all together. So I might take your word on that. Awesome. And many, you should because Algo fam Leo is one of the crypto pioneers of blockchain in Latvia. He has so many amazing stories.
is dating back to 2013, right Leo? That's when you got started? 2013, yeah November 2013. Fantastic. So many, you got to do that because there's a lot of really cool stuff you didn't attempt prior to of course, you know, taking on, on all grain and taking over a 10 with all grain. So look you forward to that and I'm going to keep you bugging about this until the day you're right, all right? Okay#
Awesome, but all right, let's get to business. I just do a very quick run of introductions for the algorithm in case you know we have some new members from the people who join it today. So today I'm joined by Leo who is the CEO and co-founder of CoiBanks and for those of you who don't know, CoiBanks is an asset tokenization company that connects crypto financial capabilities to traditional
American more as they have recently expanded globally to Nigeria. We are also joined today by Ben, the founder of DAG, the developing Africa Group. Developing Africa Group is a UK-based intellectual property rights commercialization organization dedicated to the using of intellectual property as a means of development.
developing Africa by creating jobs, trade services and enabling the much needed development opportunities in Africa. It seeks to achieve this goal by cultivating intellectual property development platform across various sectors that will enable ordinary Africa to discover their IP register and be given access to the international market to commercially exploit their own
and last but certainly not least, it is also a pleasure to be joined today by our guest, Chima from Metamap. Metamap is a digital trust and reputation infrastructure layer that powers Bordler's services. The company's tools and APIs provide infrastructure to transform anonymous strangers into trust worthy in the
individuals in the digital economy. Metamap offers solutions to builders across the spectrum from developers, tackling high trust online services to enterprises, boasting their user verification and reputation processes. Leo, Ben, Chima, welcome. It's an absolute pleasure to be here with you today.
Pleasure, so loud, I'm here, Fredji, I think that Chima, you have your hand up, Chima, feel free to unmute yourself. Oh, just saying hi to everyone. Fantastic, you have your Hima. Awesome, thank you, Chima, appreciate it. All right, and before we get started, I just want to congratulate Leo.
Eddie, who is his co-founder in Citiole of Coibanks, and of course the entire Coibanks team, which I think has passed over 60 members now in the O'Please for Rackney, on the recently announced series investment that you guys raised. It was around led by Algrang Inc. and Borderless Capital. You guys are now even more equipped to take over the world. So congratulations to you
you in the team Leo. Can you confirm how big the team is right now? Yes, well to begin with thank you very much for the recognition as I tell our own team it's 71 people now. This is definitely a team effort and all the recognition that you from the foundation and the algorithm had had without
the past couple of months definitely helped a lot. So as I tell every new team member that joins the company, I almost feel a sort of depth and obligation to what we commit and deliver because the temporary success that we're experiencing now and I highlight the temporary
reward because success is temporary and you need to really work hard to keep that going. It's also a word to what you guys push us and what you guys demand us and what you guys put it in the spotlight. So I wanted to thank the entire algorithm for that as well. I'm really really thankful and excited for what we have had.
Absolutely beautiful words you'll love it and you know that the Algo family loves the work that you and the entire team are doing here. Let's him and I'll globally I got to stop saying let's him because we're not global company, right? So this is fantastic. Thanks, but Leo I know you have a lot to share today, so I'm gonna let you take the lead, but I just want to give a heads up to the community that we're#
questions from all of you live, so be prepared. However, the only thing I'm going to ask is if you can try to keep the questions related to today's topic, which is the update about the Nature Project. But get your questions going because towards the end of this conversation, we're going to open the floor for the entire community to come and ask your questions to Leo, to Bain, to Chima, however you want to address them.
So Leo, I know you want to start big my friend by sharing the identity of the Nigeria project. So take it away man. Appreciate it Fred. Yeah, so it's about time that we stop calling it the Nigeria project right. The teams have been putting a lot of effort in thinking and identity that goes
very aligned with what we want to create here, and especially with the target audiences that we are speaking to. If you recall, and then may take a couple of minutes just in case we have you listeners today, which I'm guessing it's the case at this for some of the people here. The project that we're working on, it's
intellectual property move, the Nigerian government has considered to developing Africa Group, Ben's company, the exclusivity to build the government sponsor platform for the country in terms of registering IP locally. What means I
IP, trademarks, patents, and what it's really more appealing for all of us here, copyrights. Why copyrights? Because copyrights include music, lecture, podcast, videos, streamable content, illustrations that as you can, all of you can already start thinking of
or imagining that means NFTs, that means metaverse, that means payment channels to consume content. So that's why one of the requirements the government had is, let's make these a blockchain platform so it's transparent, so it's secure and everyone can interact and consume it.
That's where our companies cross paths, developing Africa Group and Coibanks, and of course we brought the entire algorithm, protocol and team onboard, and another of the rest of the algorithm partners that we will be introducing like today's case is Metamap, but going, I'll leave Metamap introduction to Chi-Man, but going to the identity
When we when you launch a project like this, the first thing that we thought is how can we make these different in terms of getting real traction? Because I'm going to say something that we're all thinking usually the fact that something is government sponsored it gives a lot of
Expectations like it should be legit. It should be great. It should be big But the truth is that when you analyze past experiences Government sponsor products always tend to lose in terms of adoption and traction when you compare them with private companies that try to solve the same problem
And that, I'm not going to double click on the reasons for that. I think everyone here has a good notion of what that happens. So we tried to give, and then the Drian government, I must admit, they were very open to it. We tried to give the entire platform and the wallet itself
something that get people with enthusiastic about it, get attraction and starting with the name, the platform is going to be named Alki, that comes from the Greek ethymology, something that has a very strong meaning in Nigeria as well, it means progress, it means
moving forward, it means courage, braveness, and why are we targeting this? Because today, if you go and spend some time in Nigeria, you will see that a lot of the youth population is very... it's admiring a lot of people that live the country.
And this is very common to Latin America as well. That's why I can relate with this. With the feeling, athlete, artist, people that actually are considered successfully people that leave the country that makes a living abroad because abroad you get better opportunities. You go to Europe, you go to the US. And what we want to show the Nigerian youth
of this, that you can't be and you can't, I mean, you're able to make progress on an economic growth from within the country through technology, especially through blockchain technology. So if you're a creator, and this is something that the algorithm can relate a lot, I believe is huge in the creator's economy, you can make that creation
something that you will learn royalties on, be that a song, and NFT, amuse, and podcast the video, anything that's streamable, that you can upload. When you upload that, you can use that as a collateral to ask for a loan, you can use royalties on that directly and use it to pay locally. And in order to tie
the market in Coibar, being part of the assessment with the agencies we are working with. We are designing Galki as a very youth friendly Web 3 compatible wallet and platform so that all the roadmaps that you can think of in
In terms of play and earn, gaming, metaverse, skins, collections are part of the project, are part of the roadmap, and we are starting with that from scratch. So this is the first thing that I wanted to tell you about. I think that we have the Alki Twitter account pinned in the space.
There will be sharing updates in terms of the image and the projects on the different releases that we will have in gun deadlines. This will be managed jointly by developing Africa Group, the government and us. So that's one of the official channels from now onwards to get informed of.
this and I'm going to use this small introduction to give the mic to Chima because when we understood that this is what we needed in order to get traction from the real users, the youth in Nigeria, we thought okay we don't need a typical ID validation partner. I mean of course we need
to validate Nigerian IDs and go to blacklist and see that everything is clear for people to open wallet regardless of being blocked in its financial service. But we need a company that besides ID validation can also provide validation in the different spaces be that crypto,
that the metaverse be that any other sort of virtual background that these users, their youth, are already interacting with. So, this being said, Fredjeb Lieb that we should give the mic to Chima and to introduce Metapap, tell us a little bit of their experience, how are they're involving Chima's based in Nigeria as well, he can speak better than myself.
to the youth reality and how will this be perceived by the Nigerians? Absolutely, just very quickly. Thank you very much for sharing the news and congratulations. The visuals are beautiful, the alki and I love how it combines the choir bank scholars with the Nigeria scholars. It's beautiful and I just want to point out that I was
So maybe I took a screenshot of that and made them going to NFT one of these days just to prove it to the entire world that was following number one of whenever this is huge which is probably going to be one of the world's largest implementation cases of blockchain technology right. So I'll give you this. If you NFT that I may
personal commitment to auction data as one of the first NFTs in the wallet when we're launching. Sounds great and we do that for charity, alright? I love it. Fantastic. Chima, this space is all yours, my friend. Please let us know everything that we need to know about BetaBad. Alright, thanks a lot. Thanks a lot.
So I'm happy to be joining me here. I'm ready to be speaking to everyone here. So, mesmer basically is a Trosium infrastructure. And it sort of goes beyond on the back of what Leo is talking about, which is how do we ensure that a growing population
people are able to identify and redid themselves in a new world. So for example, we have people in Lagos or somewhere very remote in Nougat or somewhere in Nigeria, the first job is a reboot job with the company in
They have been paid in one crypto currency or the other, they just covered up the fiat using a regular bank account or they move from place to place, say they move from their global citizens.
from Nigeria to Kenya, from Kenya to Uganda, and you're working remotely around the world. How do you really validate themselves in that whole sort of unique customer journey that is very different from what it's gotten from the Appareans, right? To basically have a regular job you could use
Tristan too at the job who also typically also have regular back accounts. You could find your address somewhere and maybe do a lot analog stock. So, Madam App is a solution to that, which is saying, we're going to be validating users and understanding
how and what kind of profiles they viewed get out of those data. I use that to validate them. Social media user has the sort of control of the kind of data we would share with partners as they move on from semi-stress services. Obviously that's our most time and we're still building. But currently we are providing KYC and
and related services to a lot of companies across the world, mostly across crypto, new banks. So I think for Nigerians on the call, we're working with business like laser pay, gray, payday, OBS, Kadana, and even globally violence as well.
Also working with new bands like CUDA, Tiger Bank on the Free, trying to make sure that young people have access to services that aren't really that we've locked out. So basically we move to unlock, but at least what? By making sure that everyone
What we have ten nerds are recognized so what is your idea or your biometric information or whatever and in case I said services so we're very excited to be working on this project I Particularly regular about this project because if you are very familiar about Nigeria and Africa large you would know that one of the
One of the sectors that try to be really really hard right now is entertainment. Across the street young people are doing skits, they are producing music, they are producing you know movies, shot clips, they are drawing the artistic and drawing stuff and most times it feels like if they don't come associate media at sort of
raise some money, nothing gets done. But this is sort of a platform to the future where they are now able to make money reach a global audience using this platform. So it's quite something that I am excited about and I'm also very happy that MetaBub is enabling to look into the future because
Because there's a lot of young people. For instance, right now, Nigerian music is like the global stuff. Like it's about bonnet, it's about DVD, it's about everybody else. And even when you travel out to farthest countries and they don't know, you just say, I'm in Nigeria and they're like, oh, you know, I'm in a video.
And those are people who have reason because of the traditional organization because they have you know great footing and have grown in the platform like this you can actually get a random job from the street now and give us a sort of sell yeah I've worked to global audience and also get the sort of recognition that you know the video I'm gonna has at this point so I'm very excited
to be speaking more about this as the space goes on. But also, you know, speakers delighted and metham are just important this. I'm happy to take any questions, just metham up ID and how we're going to be validating users on this platform. What's your Friday? Yeah, Chima, this is amazing. Absolutely. Thank you. I love it. Thank you very much for sharing this information. So just sort of create
Are there any numbers that you can share on metamaps reach in terms of, let's say, active users using one of their solutions or anything at all just to give a size, so understand the sizing of metamap a little better? And then to follow up on that question as well, if you can talk a little bit about what's your infrastructure, what blockchains are you using, whether you're partners?
Great. So bit of numbers, I will say just right now, I'm just checking some data dashboard. We have been able to sort of validate about over four million IDs globally. That is across the African Latin.
If you look through all of the work across over 500 machines, like I said, cutting across new bands, crypto, regular traditional band decisions and several uses across board, in terms of infrastructure, we basically, I mean,
We have a customizable platform. We depend on what our merchants want to use to, like I said, our job is basically to, you know, layer on the infrastructure, our materials support and process data for them, our main users. So we, you see apps like, oh, you see like platform that's, oh, I mean, just a mobile phones platform.
We just have an app website in that case we're able to provide sort of mobile delivery because we have the company uses that mobile SDK or API calls whether there is the web platform as well with support as well. So I wanted to get the data of how many people on body now are talking around now but that's where
it down so I can't get that but just fill it out with a little of a formula of even globally. Yeah that's the answer for right now. That is our good thanks for sharing that and just just go from you living Lagos correct? Yes. So can you tell us a little bit because of course the the the the Nigeria project and so
I'm sorry Leo is the last time I use an aduria project from now on I'll say alky. The alky project is probably close to your heart because you're an aduria living in Nigeria. Can you tell us just a little bit of background on like what the music industry like the music situation is in Nigeria and how honestly do you think this whole enterprise, the whole alky project is going to help in
the jury was in their day to day and especially borrowing the artists and content creators. Yeah, so that was our, our referring to Esh, Elia, it's, it's, it's going to be a music right now. It's the skit me cast, right, is the, um, the people drawing things. Is everyone like the humorous when I joined replied in some tweets, all right.
They're very famous clubbed on Twitter that I think they're really cool and literally after work right? I can be auctioned because you know, then juros like from bunch, when I do on Twitter, when I Instagram, when I do TikTok, I produce content every day. People are making music in back rooms somewhere at the back
with Jelik Baow or somewhere near Legos Island. I'm not everyone has the recognition and the reach and that the big artists have your whiskey or bona boi or you know or DVD or HTC have. So this is really very important because it
It democratizes like access. So everyone can just get their stuff and put it out there. And that's what generally internet has done. So I'm very excited about it because it gives a lot of people the room.
Now, look, creatures, whether they're legos, because it's beyond legos now. The people in different, and you're heard about that, they say states, and they're creatures in every other place is who, you know, are you struggling and coming out of town to get access to internet and create things? It gives everyone the access to be able to use this platform and also sort of, you know, showcase their
I just want to say content, I want to say music or anything because like this very thing is coming out right now to the world.
Absolutely, no, this is great, thank you very much. And do you know, Badech is just how big the music industry is in Nigeria or let's say just like number of artists or fans or musicians? Do you have any numbers for us to contextualize? Because the population of Nigeria is around 210 million people, correct?
Well, I think they both are now. It's two hundred million. So that's what I said. So it's over a million people, but they both like to
- It's 220 now. - Perfect. And do you have any insights on just how large the intellectual property or just the music industry is? Meaning that how big the potential market for the Alki project is?
So I mean, just to put it in context, so, um, not a wood, which is like the, the, our sort of equivalent of Hollywood, right, is the second largest producer of music shows, I think outside of Hollywood, I think taught outside of Hollywood and Hollywood, um, and people
So, before now the ACC people make movies every 10 days, right now I think it's less. People make thousands and thousands of movies every week. On Instagram there are tons and tons of skips that are produced and turns into very, very extensive and
you know, while we secluded content, and you know, even memes, right, with their share. The music industry has, you know, millions of streams. Across board, I don't, I'm just don't have the number right now, but I might get, I'll get some number before this ends. You have literally a lot
Every street illegal someone produces music or interesting for the music literally someone in every What's the called in every you know store stretch the cell in there at least tape or something in a store So there's a very large number very large spread of musicians and very large spread of
Of you know of content creators across but what I'm using what I is it's kids making and I keep making because If you say two years down the line or three is out the line This was left for like big thick comedian like I liba I liba I think I don't care what I say is I don't know this is a new nobody
But right now we have a little bit of a 10 thousand skidmakers and this gets a making quite very quality content that I won't sort of influencing pop culture, influencing everyday languages, influencing, you know, writings in this space and not
not just here influencing things across African, neighboring African countries and all. So there's a very huge market of funding creators. And because music is typically when you say about Nigerian music is first when people talk about, because it's very popular. It's very dancing where we talk about that, but it begotts. All right.
Now it is going to be on that and I will talk about the contribution to entertainment. I will say that now even that I mean I stand be corrected that music is maybe just about 40%. There's a lot of work being done in order adjacent industries by young people that are that would totally benefit from this project. That is amazing.
Thank you very much and I truly appreciate you sharing this. I do have a quick question for Leo and Leo, I know you want to bring Ben to the conversation to share some meaningful, but actually I have a quick question for you first. Can you speak a little bit about the road to map for all key? So where do we stand right now? What's what's happening at the moment? What's coming up soon regarding the tech, regarding the business development? When#
live. Can you share some of that? Sure. So I'll start with the tech because I know that the algorithm is very tech oriented with the Salvador case. It went something similar, right? You get afraid a lot of questions on how it was implemented, how it will work. So from the technical perspective, we will
create a single algorithm address for every alky user. As you can imagine, so that we are on the same page, it's not something I'm particular, or it wouldn't be my first choice, but for these scale projects we need to create a
So, what we're trying to do to keep ownership as pure as possible is we will each time you register in the alky wallet, you will go through Metamaps validation and if that comes out clean, you will be able to get the
You will be allocated with an algorithm address and the keys to that address will be encrypted on the client side on the application directly from your own device with a 4 to 6 digit pin. We're still having some conversations and discussions with the security auditors and that and nor the government nor developing after
North Africa, nor us will know the actual keys. The only way they will be stored in developing Africa's servers outside of Nigeria so that we can also keep some sort of independency in terms of legal enforcement eventually.
And these keys will be only decrypted each time a transaction needs to be signed and then if it needs to be minted will be decrypted by the end ALC user putting his or her pin directly. If a user happens to forget his or her pin
Here she will have to go through the entire validation process again in order for us to really know that you are who you are and that you need to be, you need to create a new address to it. If that's the case, what will happen is that the balance that you have
We can create again, we can mint those tokens and allocate it to your new address. We can't do that with NFTs. So here is a very interesting approach that we are going to dry test in this project that is you can recover your fee at balance. But if you don't want to
you need to remember your period. So it's not holding the keys directly, but there's a huge responsibility on the user side as well. We are confident that since we are talking to really young users, we might have a fastest curve of adoption in terms of the
the adaptability to hold this password in case or being for the wallet. And the other important sorry for you are about to this thing. Oh no, I thought you were muted sorry. And the other important thing is another partner that we wanted to introduce
today and I will do that on their behalf. It's Cinef Bank in Nigeria. Cinef Bank has partnered with developing Africa and they will be providing the fiat off-ramp in country and will be the issuers of the virtual
physical cards that the alky users will be using to pay their everyday purchases. For compliance reasons, they were not allowed to be a part of the Twitter space. I think we can all relate to that, coming from a regulated institution, especially bank. But they are
a very important part and support of the project. So in terms of features, how will this work for the first release? I'll leave dates and government arrangements and the relationship with the government update to bend. First release, users will be able to apply for a trademark registration that
to the traditional process that takes a couple of months and you can know the status of your trademark application directly from your wallet and once you are granted the trademark that trademark will be represented in your wallet in the form of a token and you
can transfer that trademark if you decide to sell a fraction of it within the Alki ecosystem and each change in ownership that you trigger through the wallet, we will notify the Nigerian Registrar Office in order to impact it formally as well. The second feature, which is one of the most
One of the features that I'm most excited about is NFTs. NFTs means users will be able to upload their creations that they want to become an NFT. So they upload that directly through the wallet or
the website and once you upload the NFTs created and that will be automatically published in one of the marketplaces if not more than one that we are partnering with. The marketplace has not been defined yet. We are getting the different proposals from all the other marketplaces that you guys already
you know, developing Africa Group and the government will settle on probably one or a couple of them. So once you get your NFT uploaded and minted that goes automatically published into this marketplace and when it is sold, the royalties of that's our
the income from that sale will go through our platform that's going to be receiving crypto and we're going to convert that crypto with Sinisfibles directly to Fiat in Nigeria and users will be able to use their card to make purchases without the necessity to actually use the wallet.
If they want to use the wallet, they also can do that. And all the transactions and conversions will be registered on the ground on chain so that everybody can audit the entire flow of funds, especially the government. These are the first two releases that are going to be live. Later on the roadmap, we have a music and
streamable content with one of the big streaming companies that Algonne has partnered with, we'll hopefully make making that announcement in the next Twitter space we'll be holding together with the credit card company and other Algonne partners that are contributing to
to the better experience of the alky wallet. So in terms, I'm particularly interested in all of you guys understanding the mechanics behind the wallet because, again, when we think an alky, an algorithm wallet, I got questions like, why do you guys don't use parallel wallet?
or other of the very interesting applications that are in the ecosystem already available. We are using part of the resource code, especially when there are open, for instance, the NFT rendering that Peda was developed. That's very, very interesting. We are definitely including that. But when handling these scale projects and people that's not crypto-savvy, we need necessary
necessarily need to put in place and mechanisms for the experience to be a little more accessible for people right? Fantastic. Thank you very much. I don't have some follow up questions, but Chima, you have been having your hand up for a while, so go take it away. Oh yeah, finally go my numbers and
music my system is back up so just like in the sort of context I think the about last year we had about about 10 billion streams for Nigerian music we'd sort of drive a revenue of about 44 million dollars for the top artists alone so this is a contextualized and
The size of the man-jab music industry how fantastic thank you, I truly appreciate it and Leo I do have an operational question from you is Whenever you guys start rolling out how is he gonna look like are you gonna have like a small test group like it knows not small control or you're gonna evolve the other family what is the plan how you want to do this?
before you scale. Well, the first thing that may be it's an opportunity, but you need to hold an Azure ID to be an ALT key user. So calling all the Alga fam that live that health holds an Azure ID, right? Definitely we're starting better testing it. We're going
to start with a group of regions and smart-fencing particular. We're going to be a staggered roll-up. It's a huge project and although everyone wants to be live as soon as possible, we've learned from past experiences. I'm not going to give names, but you'll know which end referencing that if you go all together
better just because you need to fulfill that line that might not result in the best experience and performance. We are not going to repeat that mistakes here. Absolutely. For one of our next conversations, maybe let's try to bring Eddie as I mentioned before.
Everyone Eddie is co-founder of CTO, so we can have some tag questions answered as well. I know you want to bring the band to the conversation, have band share some information as well, right? But just a quick heads up to the community, I already have a couple of requests here, but get your requests in because you're going to open the floor for community questions very soon, right?
Thank you very much Leo, I hope you can hear me okay and hello to everybody. So yes, we're very excited about this program and we just come up with a phone actually literally before this call with the government and not looking at the launch events that is going to be in Abuja, Nigeria.
either possibility of launching in Lagos as well, still in the work done with even the US government, you could do a patent office, patent and trademark office. I also interested in talking to us and we're collaborating with them. So we're looking at a
around October, the best-can-provid middle of October, was the end of October for a lunch in Abuja, at least, and that plan they changed over time. And I think as Chima and Leo said earlier, the identity is a major issue for us. I'm very excited to have met them up with us in helping
in our work out the identity because as you know when a Nigerian goes abroad the first thing that you face with is a question of identity and how do we determine a good Nigerian from a Nigerian and a good Nigerian is always going to have their identity with them to verify it without any problems and that
the international community who are obviously going to be trading in commercialization or international intellectual property rights after. So we're very pleased with that. And during the launch we hope to have the minister. I think the projection at the moment is that there's about three other ministers that have expressed
an interest in attending because of interest to multiple ministries that will be attending but we're waiting for that confirmation to come through. So yes, it's government is eager to do this. We're even a launch date as part of October and just making the arrangements for that now.
Fantastic. Thank you, Ben. Truly appreciated. This is very exciting timeline. We look forward to it. And Leo, Ben, Chima, if you'll agree, I'm going to open the floor now for community questions. I'm going to bring the first person online. But while I do that, Leo, I do a
I do have one last question for you, one final question. In the sense that I know you have some really heavy hitters as partners in the Nigeria Alki project. Is there anything that you can share with us today as a spoiler or alpha drop or should we keep it for the next weird space?
I mean, name dropping, it will be kept for future Twitter spaces. The hints, which is rather obvious that I can already give you guys, is some of the calls to get different proposals. I made them directly on Twitter, so it's easy to track the different partners that
we are talking with, again, final decision is not ours, actually Coivanks here is sort of an advisor and technical curator for the government and for Ben's company, the end decisions will be theirs. The actual name of the partners will be dropped on next three or spaces and press
releases. So I'm going to limit to that. Sounds good. Sounds good. Algo fam of course there's going to be some algorithm ecosystem startups involved in this but there are also some external entities that you might recognize the names when there are now. So I'm super thrilled about this. And I'm going to pass along the question to Elder now. However,
I just want to say that Algo fam as Leo very casually mentioned about the next Twitter spaces, this is actually going to be a recurrent thing from now on. So we're going to have a recurrent series of Twitter spaces with Leo, Quay Banks and their partners to start introducing them one at a time and bringing updates to the Algo fam a large.
frequent bays. So stay tuned because we're going to have a schedule posted in some more information very soon. With that, Elder, take it away. Thank you, Fred. And thank you, Leo, for taking time to, you know, video partners to come and talk to us. A question that I have is, is Nigerian IP and effectively
What you are trying to do is similar to what we have in Italy. The organization which ultimately, the organization where all of the artists have to basically go through when they publish their music and ultimately when they claim their Royal
is internationally, is that the idea? And then ultimately that ties in with the question to somebody mentioned that there is a 10 billion streams in Nigeria, and is that effectively what you are trying to do?
bringing existing artists to this platform or is it kind of only the future and you know your artists that you know they are trying to basically make the name for themselves. Well that's a next question elder on the Italy comparison platform
from the government goal it is very similar, I mean the government wants to have like an easy to go formal channel for artists to be able to register their creations without having to go through the complex process of these
with established and big record label companies necessarily. So the idea is if you want to go with them, you can do that and they will handle a lot of this for you. But if you're an incipient artist and you want to take a self-service approach to call it somehow, you can also do that.
that a functional difference between the two platforms is that here we've included the wallet component. So those royalties that you earn are credited directly to your wallet and you can use that as a means of payment. And on the second part of the question, we are approaching some
already established artists and it's the idea to get at least a couple of them as a flagship case but the real problem that we're solving is not for established artists. I mean, established artists, they already have the royalty channels, their managers, the record labels, here the opportunity when
Once again, it's for the high school students, college students, university grads that they have some sort of talent and they don't have to pursue it. Even as a hobby, I mean, you don't need to be a con decorated artist worldwide. You can be just a hobby or an enthusiast.
that you have some sort of creative talent that you want to expose to the country, to the world, even to your own friends, Alki would be a tool to enable this. Thank you very much. Maybe just follow-up question, and I hope Algo found that in mind that I'm taking time. But let's take
I am an artist in Nigeria and I produce a song or piece of music and I NFT it is effectively will that NFT or that piece of music have a smart contract or something behind it which will recognize when somebody is using it let's say in America or in UK and
you can effectively go after that individual and say, "Hey, I'm going to attack and you literally stole this part of art." You can prove it because it was registered way before they started using it. I mean, I'm assuming that is the ultimate purpose of this platform. Obviously, as well,
the fact that artists can monetize their products. We are not there yet. I mean, initially you will register your creation if it's music in your example that's going to be a copyright in the Nigerian Register Office and we are going to double register that
in the algorithm blockchain and that piece that song or that piece of audio will be published in the streaming platform like you will naturally do. There's not going to be an NFT published in the streaming platform. You're going to publish your MP3 and before or whatever file you upload
it and the royalties that you earn on that will be credited in your wallet in the form of tokens. So the first stage is just that leaving a blockchain receipt of your creation, if you may, and getting your royalties in the form of tokens in your wallet.
NSTs in terms of music or video, it's something that we have in the roadmap probably for next year, but to be completely honest, Zelda, we still need to understand and happy to receive any suggestions. How's the best use case and real world approach to that?
Fantastic. Thank you. Thank you. And I'll go fam just you know as another quick reminder if you want to ask a question right now is the time just hit the mic request button and come up to the panel to ask your questions to our speakers. But Leo I'm going to put you in the spot you're referring.
Recently, you shared a tweet and I'm going to ask you again publicly what is your expectation on the number of active users that Alki aims to collect to obtain over the next few months of the first year or so. What are the expectations for the project?
you would get two completely different answers if you ask Ben or if you ask me myself. I'm going to give the technical non-Nigerian conservative answer. You're targeting 1 million users in the first year, but Ben, feel free to share your projections with the community.
Hey Ben, can you hear us? I think Ben just joined as a speaker again. My apologies, please repeat the question. I was telling Ben, Fredji asked me how much users are we for seeing for Dialki and I told I give my answer from a
No, like for a four from a foreigner technical conservative approach one million users in the first 12 months, but I know that you have other numbers in mind. That is correct. So we are targeting a million to start, but the indication that we're getting from the target markets that we're trying to hit is suggesting for millions.
Yeah, Ben's a little bit more optimistic than myself. I'll try to go save Fantastic. All right, I'm gonna bring another member for the community that just hit the request button to ask a question about in the meantime while the person is getting set up Leo are you guys said he
up an office in Nigeria what's going to be the situation and also if you are setting up an office are you hiring already you're going to do some hiring what's the situation there so we can also get the Nigerian algorithm to work with co-bank in some shape of form. Well for the most transparent answer is for the Alky operation
not really because the Ben's team developing Africa, they are already operating in Nigeria, they are handling health desk operations like from the technical side that can easily be done remotely but based on what we did in El Salvador and the expansion plans that we have
Maybe later than the road, after the Alki is already stable with a clear road map, the Nigerian financial industry is something that we might want to tackle. We are having that type of conversations, that's the fact. And in that case, we will need to start hiring people for co-existence.
banks in Nigeria and launching our operations there. But for the Alki Perseid, proof to be told, Ben's team is the one that's doing the hard part of the job on the field. Fantastic, Leo. Thanks for sharing. Also that's right, we're especially not an office in Lagos and in Amiga. Very nice, Ben.
Well, if you guys end up doing some hiring, please let us know and we can help relay the information and the postings to the algorithm will be amazing to have our Nigerian algorithm join operations and help in any way they can. So please keep us posted. Fantastic. And awesome crypto. I just
accepted your speaker request. Do you have a question for your speakers? Hey, can you hear me? Yes. So my question is, you know, the general question is which part of this platform is on the blockchain and which part? We see you
partially answered, but I'd like to know the size, you know, estimated size in terms of transactions, you know, per year. And more specific question is the use case that we explained that, you know, the basically the ownership or the right is duplicated on the blockchain. What about the actual
Basically, in this case, music or the actual thing that is the right is given because that needs to be stored in another system that can be verified as well. Thank you. It's a very good question. I mean,
Transsection of core of the wallet balance keeping in wallet transactions. That's everything on the blockchain and on chain. So I want to walk you through the two use cases so that you can get a clear picture. You sign up, get your ID validated, that triggers the creation of an
address on the algorithm blockchain. Again, you don't hold the keys directly, they're encrypted with the pin that you decide. And let's say that you want to mint an NFT. So the image that you upload, the image itself is going to be stored on a server, the token that is going to
that image leaves on the algorithm blockchain and it's published in the marketplace that ends up being chosen. When you sell that NFT for Algos in the marketplace that it's already published, those Algos go back to Coibanks, Coibanks converts that Algos into Nive
and since our transactional core it's blockchain based you're gonna have Fiat in the Synith Bank that it's collateralizing the NIRATOKE and that you will hold in your wallet. If you want to send 10 NIRATOKE to Chima also an ALKI user wallet
you will be sending a transaction on chain. When you go to music, that's not the music itself, it's not on chain. I mean, you just upload your MP3 and before or any audio file that you're uploading, that goes through the typical rights
The duration system to see that you're not infringing anything and that gets published in the streaming platform that we are partnering with. When you get, when you need to pay to that user, what's going to happen is the streaming platform will pay the platform alky and we will mint and
credit the NIRATOKEN in your wallet so that you can start using it. If you want to use your balance, your NIRATOKEN balance within the wallet, that's an on-chain transaction. If you use your debit card or your prepaid card to pay in a merchant, we burn the token and we send the money through an instant transfer from Sinif Bank
directly to the merchant. Those are the first to also in the trademark case, what you will do is use a mid-an application that goes directly through the traditional channel to the Nigerian Register Office when you get granted the right the trademark that generates a hash like a stamp on the Alguan
blockchain means the token as well so that you get like certain dates and ownership and the way that we are thinking to prevent you from double crossing the system in the sense that you own something formally but you don't own
that in the blockchain is on the ownership that you create not on the economics right not on the economic rights but yes on the on the actual ownership and minimum percentage is like zero put one percentage percentage goes to alky again not on the economic rights but yes on the ownership because if you mean if you
register a copyright and you mint an NFT on that and you go and publish it on the marketplace that we partner with and then you want to publish that also in OpenC for instance that it does not support Algorand NFTs yet we will be able to take action to take down that because
So hopefully this answers the question. In summary, it's a hybrid approach. Yeah, so they should be trust in the, you know,
NFD platform or the streaming that they don't particularly whoever wants to respect the whole transaction, they should trust those entities as well. Just want to clarify that part. Yeah, let's say the streaming platform pays you one NIRAP or
100k streaming, we don't have that information. We need to trust them and they will show us here is the streaming information you will get paid X based on the activity or upload generated. That's true. That's a centralized point of information. Yeah, I guess my question is more about the user site or if someone
as your NFT without your permission. And then you complain, then you need to prove that it's plus your NFT, right? And then I think the algorithm part is clear, but how we can prove that the entity that stores NFT server or streaming platform or whatever, that didn't change
the transaction was valid from the date that's stored on Algorand. I think that's the question. And I think the bigger question is, I think there isn't that I started this question. I was trying to understand which aspects of Algorand was important for this project. It wasn't clearly that much that time, right?
It's more about public blockchain and everything is there and no one can cheat. And sometimes later you can check that this transaction happened on this specific date and then ensure that this NFT or music
belongs to these address. And of course there are other benefits in terms of loyalty and other stuff. Agreeing on that, the only comment I would argue is no one would ever be able to use your NFT unless you transfer it, not even the market bank, because you connect through what, connect to any other mechanisms where they
NFT ownership and availability to transfer it remains with the wallet. What could happen is that someone uses your image to mint a different NFT which looks very similar and makes a profit on your image and your rights. That's yes, you need to go to the formal registration office
to actually verify that you legally own the rights to certain images. Sorry, Alda here. But on that point, this one of the reasons why you will be using NFD, because NFD is, because you can do that very frequently.
and making sure that people are who they are rather than just copy-pasting somebody's image, which clearly is very easy, and we have it on Twitter all the time. Well, that's one of the interesting things that Patrick and the team have already proposed us, and we are considering
that being said, some of the NFT marketplaces also have a very interesting search and validation approach that what they presented as we liked a lot. So we haven't completely settled on the NFT marketplaces and flow, but I believe that you're pointing in the right direction.
Fantastic, thanks, Elder, thanks Leo. Unfortunately, we're the top of the hour and coming to an end of the, to the spaces today. However, Leo, I cannot wait until you announce to the Algo fam the streaming protocol that you guys are partnering with. I think the Algo fam is going to be very, very happy.
So looking forward to that announcement very soon. And Leo, once again, I mean, this has been a phenomenal opportunity for the algorithm to hear, you know, right from the source, all the amazing work that you, the entire point of Bankstein developing FCA group, met a map or doing. And now, of course, in the global reach, right, come in.
out of the little attempt shell and tackling a huge opportunity in Nigeria. So first of all, congratulations to all of you. Like you truly make it the world of every place and give us hope for a better future. Of course, build on blockchain rails and build on our great. I truly appreciate your time and openness with the community and for our
the news with us first. This is amazing and I truly appreciate you guys always putting the community first and sharing all the major news to us before going to two PRs and other kind of stuff. But before we wrap up today, is there anything that you Leo, Ben or Chima want to share that we didn't cover today?
Yep, sorry, I froze a little bit on my side. I believe the only question which we get asked a lot is Crypto holding and trading in Nigeria. It's in a very gray area Some people say it's even illegal so just clarifying and it may be a boomer. We have faith that we
will be able to implement it later on eventually. But with the Alki wallet, you won't be able to buy crypto directly. Unfortunately, regulations do not allow us to do so yet. So you will be able to top up your balance in crypto, like you can send a bunch of cryptocurrencies
directly to your wallet and you will be credited that amount in NIRAS but you won't be able to exchange NIRAS for Algo, Bitcoin, Ether or whatever cryptocurrencies you guys are thinking. So I believe that's the last clarification or functionality from my side. We will definitely work towards
getting that sold out as well, but it's a little bit more of a legal discussion than a technical. That being said, personally always a pleasure to be here. Thanks for all the interest and support. I'm looking forward to the next one. Fantastic. Thank you for clarifying that. I truly appreciate it. Ben, Jima, any party words?
Thank you everyone for having us. I'm very excited to be on the project and having you go through the meta map technology to validate yourselves as soon as the product comes on stream. So excited to be part of this.
Fantastic thank you very much Ben any party words from your end No very pleased and thank you very much everybody for joining we're looking forward to the launching Nigeria and hopefully we'll keep you all posted and all the opportunities that are going to be available with posted to the outdoor crowd so that they can
Fantastic. Thank you very, very much Leo Ben and Chima, through the preshider time. I also want to thank the Algo fam that's listening to us live right now or it's going to check out the recording later. It's always a great pleasure to have all of your support and just as a quick piece of news that
that a little reminded me today, the last two years spaces that we had back in May, like I was late May, when we first announced an Nigeria project, at the top of the 30 days there were almost 6000 replays of the conversation. So more than 6000 people listening to the recording of the conversation, that was amazing. So I truly appreciate all
of you joining, all of you helping spread the news, no spread the love. It is truly amazing, as Leo mentioned at the beginning of the conversation, aside from exchanges, this project is likely going to be one of the world's largest scale implementations of blockchain technology. And it was super thrilled that it's being done right here on
fantastic and very capable partners. So it's truly exciting. So just less quick announcement for everybody that's joining us now. Absolutely definitely do give a follow to all the accounts that are on the speaker board right now so you can stay up with the news for all the projects. Most especially the Alki account which
a brand new account was created today, I think, or yesterday. So definitely give them a follow so you can stay tuned to the latest news of Nigeria. And as we also announced a few minutes ago, these conversations, these updates are going to be freaking. So we're going to have the next one a couple weeks where Leo is going to bring another one of the partners involved in the project.
to present them to you guys and you know share more videos, share more news. So stay tuned because this is going to be a very often thing we're going to do with the Algarve family. So thank you very much everyone. It was an absolute pleasure. I'll read it looking forward to the next conversation. We're going to happen a few weeks. Cheers. Bye bye. Thank you, Fredji.