Page 72 - Msingi Afrika Magazine Issue 14

Innovate Afrika
Innovate Afrika

INTERVIEW WITH
MARCEL KWEDI

CEO WOHAOO S.A.R.L., Cameroon

INTRODUCING NEBUCOIN MOBILE CRYPTOCURRENCY

Everyone seems to be talking ever have been created. It was cre- card numbers and making payments
about cryptocurrency, it seems ated in 2009. To understand crypto- with them and so banks in the US
to be on everybody’s mind now, currency, we have to ask ourselves and Europe became overloaded with
so it is very timely that we have two questions: Why was Bitcoin customer complaints demanding
this conversation to zoom in on a created? How does it work? refunds. Since about 2004-2005,
company in Afrika that is cre- banks and credit card processing
ating a new cryptocurrency for After the Internet was started in the companies like Visa and MasterCard
Afrika. Let me start at the very late 90s and early 2000s the main started to require additional infor-
beginning for those who may not means of business transactions on- mation when validating a credit card
have dived into this topic. What line was with credit cards and debit payment. So not only did you have
is cryptocurrency? cards. You would go to an online to enter your credit card number,
shop and enter your credit card you also have to enter your full
There are many cryptocurrencies, number and it would validate the name and your home address. The
but most of them are on the princi- payment. But, therein lies a problem. inventor of Bitcoin saw that as an
pals of Bitcoin. Bitcoin is the first to People were stealing people’s credit invasion of privacy. In the western

72 | we tell the true afrikan story