Boom Foundation To Feed 2 Million Nigerians Through Boomcoin-To-Meals Initiative Amid Ongoing Food Crisis
April 16 2024 - 1:11PM
Boom, a blockchain-based e-commerce ecosystem and digital
payments platform, announced the launch of its first
Boomcoin-To-Meals (B2M) initiative, which aims to feed two million
Nigerians amid the ongoing severe food crisis brought upon by the
recent hike in inflation. This initiative will provide vital relief
by airdropping 1 Boomcoin (BMC) each to 2 million Nigerians who
will be able to purchase food bundles that they can either collect
or have delivered to their homes. Boom Foundation has allocated 1
million BMC to this airdrop and has opened the initiative to public
donations, which will be matched 1:1 for all donated BMCs, up to an
additional 500,000 BMC.
As Nigeria grapples with a significant humanitarian challenge
that impedes economic development and stability, immediate action
has become crucial. Headline inflation, which hit a high of 31.7%
in February, has eroded consumer spending power, leading to one in
ten Nigerians currently facing food insecurity.
This means that nearly 22 million people in Nigeria are unable
to feed themselves and their families.
Born in Lagos, Nigeria, Peter Alfred-Adekeye, Founder and CEO of
Boom, recognised the severity of the ongoing crisis and decided to
launch B2M to help combat its effects. With B2M, Boom intends to
demonstrate the potential of blockchain and digital assets to
reliably deliver immediate aid during crises and the need for this
technology to foster long-term socio-economic empowerment.
Nigerians will need to download the Boom app and complete KYC to
receive their airdropped BMC. These tokens can be used immediately
to purchase essential food packages on the Boom marketplace. In
collaboration with local food vendors, Boom has designed these food
packages to provide 2 million Nigerians with all the essentials to
feed their families for a day. Once users purchase the food
bundles, they can choose to either pick it up or have it delivered
directly to their homes.
1 BMC will feed a Nigerian for a day. Accordingly, Boom
Foundation has committed 1 million BMC for this cause, valued at
$6.23M or NGN6.23 Billion. It will also match 1:1 every BMC donated
by interested parties, up to 500,000 BMC, allowing everyone to
participate in the initiative and make a difference in the
debilitating situation in Nigeria today.
"This initiative is not just about providing immediate relief,"
said Peter. "It's about laying a foundation for
sustainable development and economic stability through blockchain.
Regions like Africa and many others have been underserved for far
too long, and we see the potential of this technology to change
lives. Complacency has led to the suffering of millions of people
everywhere, and we cannot afford to stand by any longer. We hope
B2M acts as a stepping stone to further philanthropic initiatives
across the world."
Seeing the hardships his people throughout Africa face daily due
to their lack of access to financial infrastructure, Peter founded
Boom to provide the unbanked and underserved with the ability to
buy, sell, pay and get paid online without banking. Furthermore,
with Boom, Africans can now pay for goods and services across
borders in their local currencies.
The Boomcoin-To-Meals initiative underscores Boom's commitment
to leveraging crypto-for-social-good and marks a significant step
towards addressing the urgent needs of Nigerian communities while
promoting a more inclusive economy.
Boom Foundation calls on the crypto community, Nigerians and
Africans in the diaspora, businesses and non-profit organisations
to support this initiative and help make a tangible difference to
those in need.
For more information about the Boomcoin-To-Meals initiative, or
if you are interested in participating, please visit
https://boom.market/meals or contact
meals@boom.market
About BoomBoom stands at the forefront of
financial inclusion by enabling the 1.7 billion unbanked people and
businesses across the world to buy, sell, pay and get paid online
without requiring a financial institution for payment
processing.
At the core of Boom's comprehensive commerce ecosystem is the
mass market Boom superapp, encompassing a Marketplace for all goods
and services, a Wallet for payments, Boom Talks for secure
communication, and Boom Hose for community engagement. Boomswap is
the ecosystem's decentralised digital asset exchange protocol where
all the world's currencies have been tokenised to foster
cross-border trades in local fiat, and at layer one is the Boom
blockchain, and its root asset, the Boomcoin (BMC), the only
acceptable form of payment for fees, goods and services across the
entire Boom Ecosystem.
Boom Foundation is the ecosystem's non-profit, focused on impact
investments for social good using its grant of 50 million BMC.
To learn more about Boom and Boomswap, please visit
https://boom.market and https://boomswap.org.
Sidharth Dilip
sid@lunapr.io