Bitsoko, a bitcoin wallet and remittance service backed by Bill&Melinda Gates foundation, is participating in a tech start-ups conference Demo Africa for emerging technology and trends which is taking place in Lagos, Nigeria on 24-25 September.

Demo Africa gathers the most promising new technology companies in Africa as well as VC investors and business development professionals. The conference is sponsored by Microsoft, Nigerian National Information Technology Development Agency, and the Venture Capital for Africa online community. Demo Africa positions itself as a place for the most innovative African companies that connects African start-ups to the global ecosystem. 

Bitsoko is the only bitcoin company among 30 start-ups from Kenya, Ivory Coast, Egypt, South Africa, Nigeria, Cameroon, Ghana, Zimbabwe, and Tanzania registered for the conference to present their products to investors and marketers. Bitsoko is an Android mobile wallet that allows to send bitcoins and integrates the blockchain technology. Bitsoko intends to collaborate with energy providers to support bill payments and to provide payroll solutions to merchants in Kenya.

In June, Bitsoko won a Grand Challenges Explorations research grant worth $100,000 with an opportunity to receive an additional grant of $1,000,000 if the project is successful. The GCE scheme funded by Bill & Melinda Gates foundation helps projects that offer solutions to global health and development challenges. Bitsoko's project is called “Enable Universal Acceptance of Mobile Money Payments”.

Nigerian regulator announced recently that the bitcoin regulation is plausible in the country. Deputy Governor of Nigerian Central Banks, Joseph Nnanna, said that the regulatory climate for virtual currency transactions is much needed in Nigeria.

Aliona Chapel