Recap AMA NairaX x Vietnam Coin Market Community

4 min readJul 31, 2020

Segment 2: Q & A

Mr Hubert: Could you briefly introduce about yourselves as well as your project?

Mr Stanley Abor: I am Engr. Stanley, cofounder and CEO to @nairax

NairaX is a daughter company registered to NIRX BLOCK PAYMENT SYSTEMS (RC2903759) in Nigeria. We developed NIRX as the first African stablecoin directly pegged to the Nigerian Naira Fiat. Our ecosystem leverages on blockchain to decentralise payment solutions powered by NIRX & generate organic cross-interactions between millions of entrepreneurs within our upcoming ecommerce platform. In essence, NIRX becomes the stable operational currency on our MVP ecommerce platform upon its realease

NairaX began research into blockchain in 2017 after observing the deplorable states of third world economy (ies), being after effects of conventional failing economic models.

Our sustainable utility asset NIRX, has been maintained by triennial buybacks for over 1 year now and the proposed organic utility we will generate within our ecommerce (crypto-commerce) platform.

Mr Hubert: What makes the NairaX project stand out more than the projects in the same direction at the moment?

Mr Stanley Abor: Great Question here indeed

NairaX has created a unique niche for itself, Considering that we are a stablecoin model with utility in commerce.

The African ecommerce sector is still very much less competitive at the moment with comparison to other continents. We are smartly taking advantage of this opportunity to blossom the NairaX project with its usecase in Commerce.

The African economy is still currently the most fertile niche for utility of cryptocurrency and blockchain applications due to level of bank charges we battle with in this part of the world.

These reasons fuel the demand for crypto in fintech. And not just crypto, but stable crypto.

NairaX has been engaged in providing free cryptocurrency education to fastrack both knowledge and utility of crypto in Nigeria and the African continent at large. By doing this, project NairaX blocks all potholes that avert its future success.

The integration of a stablecoin into a currently less competitive commerce sector has so far blossomed in the past year and this is only the beginning.

These amongst many other reasons keeps NairaX apart. Lastly, with the hype we have garnered on a consideration that NairaX is the first African Stablecoin project in the world, we are confident in delivering continuous profits to our host of VCs, current holders and investors.

Mr Hubert: Who are some business partner/clients for NairaX?

Mr Stanley Abor: NairaX has been able to gain the support of major ecommerce as well as Fintech giants in Nigeria. These include PayStack, Jumia, Konga and Ajebo Market.

These huge Nigerian giants have provided both financial and technical support that facilitate the success of the NairaX project this far.

Furthermore, NairaX has signed NDAs (Non Discosure Agreements) with 4 investment houses in Nigeria who keep backing funds steady pumped in to our project to maintain our stable price as humanly possible. That way Investors do not have to worry about sharp volatile fluctuations.

Other international partners of NairaX can be found here https://www.nirxblock.com/partners & they can be verified.

Mr Hubert: What are the memorable milestones of NairaX in the research and development process?

Mr Stanley Abor: NairaX was able to smash a +$1m (https://icobench.com/ico/nairax) mark in sales during our ICO in 2019. Though this was far from achieving our softcap, but with other external funding from VCs we have put in work to maintain NIRX stability till this very day.

NIRX is also the first African project to hit XT.com, being a top 25 CEX by both Coinmarketcap and Coingecko ranking.

Frankly this came as a surprise to us when we were approached, signed up and listed. It boosted our confidence a great deal in the NairaX project. Feeling that we have actually stood the test of time.

As you and many may already know, lots of SCAM projects have stepped out from this part of the world. There are negative implications to all these, as it has created a rocky path for good projects to gain trust in the crypto space.

NairaX being on XT was a great Milestone for our project. Why? Because it has so far drawn a lot of trust to NairaX over time considering that investors have never lost with us this far.

Other milestones include the additional partner we have since landed since our official inception in June 2019.

Mr Hubert: What does NairaX plan to do to attract more users in the upcoming time?

Mr Stanley Abor: NairaX is launching our mobile app and ecommerce platform this year precisely in October/November

These implementations come with several profitable technicalities ranging from Staking, Mining and a possibility for holders to buy and sell commodities with NIRX on our platforms.

It’s only realistic to assume that at first, that specific utility of buying/selling on our specialised ecommerce market will be implemented in Nigeria and then Africa as a whole before going completely global.

Our mobile app/wallet will also enable a swift exchnage of NIRX to ETH, BTC and USDT on the wallet itself and also on our ecommerce ecosystem.

Additionally, to further strengthen liquidity, NairaX has begun negotiations with Kucoin exchange. As you can all imagine, the listing fee is high but we are doing that anyway to ensure investors can swiftly exchange their assets via various profitable systems.

Segment 3. Freeasking

Detail: https://t.me/chocoin_VN/1054624

Segment 4: Quiz

Detail: https://t.me/chocoin_VN/1054656

NairaX Project Information:

https://t.me/NairaX

https://twitter.com/nirxcoin

Website: https://www.nirxblock.com/