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Malaysian Bitcoins Exchange Firm, Belfrics, Hits Nigerian Market




The renowned Bitcoin Exchange firm, Belfrics Global Technology has launched its operation in Nigeria, under Belfrics Nigeria PVT Limited.

A one stop shop in the world of bitcoins, Belfrics Nigeria PVT Limited is a digital finance company that offers a wide range of products and services to the digital currency industry, including a wallet, a trading platform, a payment gateway and others. Belfrics Nigeria is a subsidiary of Malaysian- based Belfrics Global.

Explaining why Belfrics Global Technology, is a leader in digital currency business, its executive director, Nigeria branch, Mr. Victor Evoh said that the company is renowned for its Blockchain solution, which enhances local content and effective regulations where necessary to boost the economy of the country.

Belfrics’ foray into the African market began last year, with the successful takeoff of its Kenya operation. The berthing of the Nigeria branch is a deliberate step by Belfrics to consolidate on its African operation, and, by so doing, avail it’s unparalleled services to the people of the region.

While unveiling the solution, the Chairman and CEO of Belfrics Global, Mr. Praveen Vijay reitrated that the Blockchain solution helps to enhance all existing data base in a system, transparency in government operations and openness in public service.

‘‘We are bringing Blockchain technology solutions to Nigeria. What we have at the back of our mind when we talk about Blockchain solution is a kind of ripple effect because we want to bridge the gap of multiple corruptions in all government areas and in all facet of public enterprise’’, Vijay stated.

‘’It brings transparency, it eliminates corruption. Blockchain is not a one of thing; it is kind of a house that houses so many entities on it. We have Blockchain solution in area of health, Blockchain solution on law, finance, land management, tax, e-government.

‘’In fact, we have Blockchain in virtually in every facet of life because everything we do is not tangible but digitalised. It is digital information. Blockchain solution harnesses all this information and gives transparency to it. That is why it recorded everything it does in a ledger. It is like a book everybody goes in and see.

Mr Vijay stressed further that the services of the global organisation is all about data and information storage, adding that ‘’if you are building a Blockchain solution, you have to get information from the primary source and then upload to the secondary source.’’

He added, ‘’For people to have access to what we are doing, we recently spoke to NITDA and they are very curious about the solution we are bringing in and if you get such parastatal curious, then there is the possibility it will buy the idea.’’



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