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  Blockchain is simply a  system of documenting data in a way that makes it difficult or impossible to change, hack, or cheat the system. A blockchain is practically a digital ledger of transactions that are repeated and circulated across the entire network of computer systems on the blockchain. Each block in the chain contains a specific number of transactions, and each time new transactions occur in the blockchain, a record of the transaction is added to every member’s ledger.
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Blockchain is not a cryptocurrency rather it’s a  technology that enables the existence of cryptocurrency (among other things). Blockchain technology has proven to have certain benefits that have made organizations, individuals, businesses, governments, and other sectors of the economy should adopt this trend as a way to scale their businesses. The benefits of blockchain when integrated into a brand or business include:
  1. It makes money transfers less expensive and faster.
  2. They are used for huge financial exchanges between companies.
  3. Lenders use blockchain to execute loans with collateral using smart contracts. A Smart contract that is built on the blockchain allows certain events to activate things automatically like a service payment, full repayment of the loan, and release of collateral.
  4. It provides greater transparency for customers and insurance providers such that recording claims on the digital ledger will prevent customers from making duplicate insurance claims.
Blockchain technology is transforming businesses with its ability to suit the different functional needs of organizations.  BitPowr technology encompasses blockchain wallet and digital assets solutions to power businesses and organizations that want to scale their operations. BitPowr was founded on 27th March 2020 by Oyetoke Toby and after nine months of being in a stealth mode has finally launched. BitPowr built a wallet and digital assets infrastructure that helps businesses to scale faster on the blockchain. It provides a platform that lets individuals create and manage crypto wallets easily through a user interface, Application programming interface, and software development kit. According to tech cabal, Oyetoke noted that he had to build wallets from scratch for every new crypto project until the idea to build a simple crypto wallet system to help create and manage Bitcoin wallets and also accept crypto payment. Later he decided to commercialize the solution, built it for a couple of months, and launched it with six clients to become exactly the way It is today.
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BitPowr helps organizations to create, manage and secure crypto-wallets and digital assets using a user interface and application programming interface. BitPowr offers the following services
  1. Wallet services: deciding to use BitPowr wallet enables an individual or organization to do the following:
  2. Create multiple wallets: It allows you to create multiple wallets for various parts of your organization, and each wallet can create its unique assets. The types of wallets they offer are crypto wallets, Exchange wallets, and savings. Their Wallet Application programming interface is a complete suite wallet management solution that allows businesses to create and manage different types of wallets for different blockchain and different user cases, using a simple interface. You can easily create multi-currency wallets that contain your popular cryptocurrencies, such as Bitcoin or Ethereum.
  3. Hold & Save: You can keep your assets safely and know your coins would always be waiting for you.
  4. Carry out transactions: You can receive crypto value to any of the supported assets you create in your wallet and also send crypto from there to anyone in the world.
  5. Policy personalization: Bussiness functions differently, so companies have the chance to affect policies that are beneficial to their organization as well as rules guiding the use of BitPowr. These policies are;
  • Approval Policy: you can set members in your organization that must approve a transaction before the wallet is charged.
  • Collection Policy: you can set the duration in which you want the current value of all your assets to be paid into any asset or fiat (local currency) of your choice
  • Withdrawal Policy: Set the maximum amount of time and the amount you can get to withdraw from your account for a given period.
BitPowr is built for all enterprises that want to build,  grow and scale their businesses using blockchain technology. Companies in Nigeria and Africa at large are advised to use BitPowr wallet because it is user-friendly and easy to navigate. There is no such thing as Hacking, system failure, intentional plotting, human errors, and other threats that are immaterial it is highly secured. Unnecessarily expensive network fees are provided almost at no cost and one can receive payouts in local currency. maintenance issues are also lifted off your shoulders and you can have easy payouts. BitPowr has already launched in Nigeria and Cameroon, soon Bitpowr will expand to the whole world. Featured Image Source: Linktree
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This article was first published on 22nd January 2022

eyimegwu-ekene

I am an accomplished content creator and recently delved into technical writing. I enjoy using my skills to contribute to the exciting technological advances and create awareness of evolving technological trends in Nigeria.

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