On Wednesday 6th March 2019, Bit2Big held a meet up for block-chain technologies that were a big success, with a bid audience showing up to learn the origin and technology behind block-chain technology.
While addressing the meetup yesterday in Kampala the Chief executive officer of BIT2BIG, Mr. Michael Kiberu Nagenda expressed interest of expanding as far as Rwanda is concerned.
“Rwanda’s ground is favorable and the government of Rwanda is always supportive and values the technologies developed at each level. That’s why we are going to put more effort and investments in Rwanda,” said Nagenda.
Nagenda strongly believes that it will work out in Rwanda than any other country in the East African Region.
“Rwanda by nature prefers actions than words, so I strongly believe that Rwanda will perform well in these technologies than any country in the East African region,” Nagenda added.
He also gave a roundup of the technology, on the introduction, meaning, and its application in today’s world.
Mr. Nagenda explained in detail the block-chain technology, from the theoretical part to the practical part and even further to the applicable Hardware part.
He also talked about the programming languages used when building block-chain technologies, hinted about cybersecurity, the block chains operations, how blocks are linked into systems and how the machines communicate in a blockchain.
Meanwhile, the biggest part of the process was the launch of a new block chain device, the Pundi X device that converts payments into digital currency and can be used for daily trade.
The monetary value can be either converted to Bitcoins Or USDT. USDT is a standardized digital currency that is not affected by the fluctuations in the cryptocurrencies and this makes it amazingly great for business when the money is paid through cryptocurrencies (either bitcoin or utheriam).
The coins are converted into the US dollar using the dollar rates at that moment, and then standardized into the USDT which shows its future in business with many compatible features and tools like the smart cards for quick payment methods by simply swiping the card over the device to pay any commodity purchased at a mall, shop or other business point using it.
All transactions that are done using the smart card are sent to the person’s online account.
The device builds understanding between businessmen and cryptocurrency traders around the world.
It is first of its kind in Uganda after it’s the previous launching in Switzerland, German, Dubai and a few other countries around the world.
The USDT device guarantees safety, security and can be liquidized at any time where needed from many different collection points.
KIPYA Bit2big will hold another conference on 8th March 2019 under the same theme: The future of Payments.
According to Nagenda Rwandans just need to be educated on how this works.
BIT2BIG is expecting to hold the same conferences in different parts of Rwanda not later than April 2019.
What is BIT2BIG?
BIT2BIG is a subsidiary company under KIPYA Group Ltd and is an IT company registered and operational in Switzerland and Uganda, offering products and services in Digital Finance solutions based on Blockchain Technologies, Cyber Security, IT Consultancy and Training.
KIPYA successfully held the first ever C|EH training in Uganda in November last year with participants from government organizations, the private sector, and academia attending.
It also offers training in Certified Ethical Hacker (C|EH) training complemented by EC-Council as an international accrediting training partner that equips staff in the IT department with skills and techniques used by hackers and information security professionals.
The company is expected to expand its expertise to Rwanda this year.
By Staff reporter