Nigerian transport and logistics business “God Is Good” operating under the business names God is Good Motors (GIGM) and God Is Good Logistics (GIGL) are set to start accepting cryptocurrency as payment for their mobility and logistics services, as well as offer DeFi products on their platforms. The news comes as quite surprising because cryptocurrency is currently banned in Nigeria. It, therefore, would be interesting to see how the company plans to achieve this.
Reports claim that an insider source mentioned that the company would soon be integrating cryptocurrency, blockchain, and DeFi solutions for users on its platforms.
GIGM and GIGL are some of the top businesses and the biggest competitors in their fields and are already in collaboration with foreign partners to develop what may become Africa’s first continental blockchain-enabled project financing platform. When integrated, the GIGM and GIGL platforms could become multiple-usage apps that allow users to pay bills and even send and receive money.
GIGM and GIGL are all about innovation and technology and that’s what had brought them this far. The idea to integrate cryptocurrency and related services goes with the company’s goals of leveraging technology in all its operations.
Sources say the company is expected to roll out its cryptocurrency features within this month and it is still unknown how it plans to evade regulations from the government.
The Nigerian government banned cryptocurrency and its use earlier this year on grounds that it was fueling terrorism and money laundering. Businesses operating in that industry either had to close down or find new ways to operate that does not involve disobeying the directive.
It is unclear how the company plans to go but it seems like it will be minting a new token that will be used to access its services via its GIGM and GIGL products. It might also be a reward-based system to help push the brand just like how many other reward-based systems works.
Whatever it is, it promises to expand the brand’s business coverage.
Discover more from TechBooky
Subscribe to get the latest posts sent to your email.