The Nigerian government has signed a 3-year exclusive IPR (intellectual property right) agreement with Developing Africa Group to launch a nation-wide wallet which will enable the international commercialization of all IP forms being created and registered within the country, both locally and internationally. In this context, the IPR exclusivity agreement consists in the government granting Developing Africa Group – a regional software development company – to build the country’s official platform for its people to be able to upload any form IP rights and trade, sell or exchange them abroad, while collecting the royalties and proceeds of these operations on their wallets. IP forms reached by the above-mentioned agreement include trademarks, patents, and all forms of copyrights such as songs, lyrics, videos, shows, lectures, podcasts, and all forms of stream able content. The Developing Africa Group has chosen Koibanx, with the Government’s approval, as the tokenization and payments engine to be utilized in the country and the Algorand Blockchain the protocol to build on top of. Koibanx, the leading Latin American asset tokenization and Blockchain financial infrastructure company, will be in charge of implementing the wallet, the token both for the IP being sold and stable token (equivalent to the Naira) to pay the creators in addition to the overall technical integration of the different vendors in play, which include one of the top card issuing companies worldwide, a content streaming platform and top firms both legal and data mining, they will all be announced before launch date.
Developing Africa Group (DAG) is a UK based Intellectual Property Rights (IPR) Commercialization organization, dedicated to the using IPR as a means of developing Africa by creating jobs, trade services and enabling the much-needed development opportunities in Africa. It seeks to achieve this goal by cultivating an IPR development platform across various sectors that will enable ordinary Africans to discover their IPR, register it and be given access to the international market to commercially exploit their IPR. DAG seeks to work across all African countries using IPR as a means of creating trade and employment across Africa. Algorand’s public, open source blockchain infrastructure provides interoperability and capacity to handle the volume of transactions needed for defi, financial institutions and governments to smoothly transition into FutureFi. The technology of choice for more than 700 global organizations, Algorand is enabling the simple creation of next generation financial products, protocols, and exchange of value. Koibanx is the leading and pioneering company in the provision of blockchain-based financial platforms and products for the Latin American financial system. It leads the technological revolution of the industry in the region, providing payment and asset tokenization services to the banking and financial sector in Argentina, Colombia, Mexico, El Salvador, and Uruguay. Through its platform, its clients’ infrastructure becomes more secure, agile, and profitable for payments, factoring, and tokenization of assets, thus enabling the possibility of reaching new market segments. Koibanx works the rails that enable multi-asset payments, converting the holdings of the financial system into liquid, allowing mixed and partial payments to be made using cryptocurrencies, fiat money, securities, commodities, and loyalty points.