Business
Flidy and Aleph Zero to Boost Blockchain Adoption in Nigeria
Feb 17, 2022
Aleph Zero will become a key element in growing blockchain adoption in Nigeria by partnering with a local startup incubator, Flidy Technologies.
We’re excited to announce that the Aleph Zero Foundation partnered with Flidy (Flidy Technologies Limited), a startup incubator established in Lagos, Nigeria. Cardinal Cryptography, the team behind the Aleph Zero core development, will also assist with their research, development, and go-to-market know-how.
Aiming to become the incubator of choice for Web3 startups in Nigeria, Flidy has been set up with a mission of driving the adoption of blockchain technology and cutting the time it takes to achieve product-market fit in half.
“While the benefits of the technology are relatively well-known to Nigerian entrepreneurs, the implementation of the infrastructure is still complex and expensive”, says Shina Akinboboye, founder and CEO of Flidy Technologies. “Moreover, there’s an incredible need for further education on non-financial use-cases.”
The Road to Blockchain Adoption in Nigeria
Blockchain faces an uphill battle against centralized solutions due to several reasons identified by the Flidy team. First and foremost, conventional products are cheaper to use. “Aleph Zero’s low fees and cost predictability make it easy to recommend”, Shina says. “Knowing how much you’ll spend on an infrastructure is a huge benefit to people who are looking to engage in building a new IT foundation.”
Built by Shina Akinboboye and Theo Adeniran, Flidy Technologies aims to deploy capital towards 20 blockchain startups over the next two years. “We’re happy to say that Aleph Zero will become the default recommended infrastructure. Shina and Theo will be providing $AZERO coins to cover the costs of building and maintaining incubated startups”, says Antoni Zolciak, Aleph Zero’s co-founder. “In addition to the above, Flidy will also provide seed funding to help cover initial expenses, while Aleph Zero and Cardinal Cryptography team—among other partners—will be happy to assist with partnerships and mentoring.”
Communities, angel investors, and venture capital funds behind Aleph Zero also expressed interest in allocating additional capital towards interesting use-cases scouted by Flidy Technologies.
Flidy’s Technologies verticals of choice include finance, supply chain, as well as real estate and land allocation challenges. “Finalized in an instant and near-free payment transactions for individuals and small businesses across Nigeria would be a huge benefit to local entrepreneurs. The ability to have those transactions private—yet reportable and auditable—is a major USP from a security perspective”, Shina says.
Flidy is the first incubator of its kind in Nigeria and Sub-Saharan Africa. Its notion is that one shouldn’t have to understand blockchain in order to benefit from it. As Shina himself puts it: “After all, you certainly didn’t have to understand how the cloud operates in order to use Netflix.”
Starting in March, Flidy Will Be Ready to Onboard Startups
If you’re looking to work together on boosting blockchain adoption in Nigeria, don’t hesitate to reach out at [email protected].
Flidy Technologies has already been established and is now in the final stages of onboarding institutional investors as well as establishing an outreach strategy for couple of weeks following the official launch in March. Aleph Zero team is excited to support Shina and his team on their mission to build a modern, transparent, and sustainable infrastructure throughout this wonderful region.
