On Sunday December 1st, 2019, Load.ng (LoadNG), Nigeria’s No1 fully automated bitcoin buying and bills payments system launched in Ibadan, Nigeria.
|Tunde Buremo, lead developer, load.ng
The event which was held at Wennovation Hub – 3rd Floor Alpha and Omega Building, Queen Elizabeth II Road, Mokola, Ibadan, was graced by digital technology enthusiasts, social media influencers, and high profiled personalities in the financial technology and digital communications and technology industry in Nigeria.
Tunde Aderemi, popularly known as Tunde Buremo, is the lead developer of load. ng and the chief executive officer (CEO) of IBC Design Digital services limited, a digital technology platform focused on website development and graphics, search engine optimization (SEO) and every other Information Technology solution.
In this interview with Alli Abiola, Tunde Buremo, expounds on the idea behind load.ng, the leverage of LoadNG as an automated bitcoin buying and bills payments system, and reasons the government should invest in cryptocurrency and blockchain solutions.
Alli Abiola of itsallisay.com: Congratulations on launching load.ng. How excited are you?
Tunde Buremo of load.ng: I feel very excited. It’s been about half a year of constant development. I am the lead developer of load.ng and launching is definitely the way I painted it.
What exactly is LoadNG all about?
LoadNG is Nigeria’s No1 Bitcoin buying and bills payments system. What that means technically is that the system buys bitcoin automatically and with your money on the system, you can pay bills, buy recharge cards, airtime, mobile data, pay television subscriptions, etc.
The leverage of load.ng is the automated bitcoin buying system.
|Guests at the unveiling of load.ng
Describe the concept behind cryptocurrency (digital currency)
Digital currency is actually made to make the spending of currency easier. It is meant to be a mutual currency by everybody of any race (black, white, etc) from any country. Digital currency is meant to be mutual for everybody. That is the simple concept behind digital Currency.
Digital Currency is not controlled by any entity or government or central bank. It is different from fiat currency. It is general and mutual to anyone and everybody around the world. What that means is that if I have $10 worth of bitcoin, I can spend that $10 worth of bitcoin anywhere in the world and that is contrary to having 10 thousand Naira. You can only spend 10 thousand Naira in Nigeria.
In the same way, you can only spend dollars in the United States of America (USA) but for bitcoin, you can send digital currency anywhere in the world.
What is the idea behind Load.ng and the interest in digital economy?
Awesome. Naturally, I’m in the niche of cryptocurrency and I know how people get scammed when it comes to selling their bitcoin. Sometimes, they find the buyer and the buyer scams them or they find the buyer and the buyer doesn’t pay to time to meet their instant need for sales in the first place. I felt things should be done automatically.
Right now on load.ng, all you need do is come on the platform, start a “sell bitcoin” transaction, input the amount you intend to sell, and the system automatically pays you in naira without any human input. That means you can sell your bitcoin for naira at 1 a.m, and 2 a.m, at odd hours. It makes selling bitcoin hassle free, stress-free.
Our interest in digital currency is because it is the future. Bitcoin is the future of finances all over the world. The world is going to the stage bitcoin will be used for day-to-day transactions. The world will be technologically powered whether we like it or not. You can see it with the emergence of new brands and startups. People are adhering to the greatness of technology.
People using technology to power solutions and load.ng is just one of those solutions.
As a cryptoexpert, do you think Nigeria is ready for virtual and digital currency?.
Of course. A lot of Nigerians already use platforms like paxful. In fact, presently on paxful.com, the highest number of registered users by country is Nigeria. Paxful has its highest user base in Nigeria.
That tells you how much people are willing to use digital currency and how much people will use load.ng, an automated bitcoin buying and bills payments system in the long run.
In your own opinion, how encouraging is cryptocurrency (digital currency) acceptance by Nigeria and African countries as a whole?
I feel the government just wants to be primitive in most cases because the government itself knows that cryptocurrency and digital money is the future. The government tries to discourage investment in bitcoins and digital currency because of its volatility. The Federal Government of Nigeria always advises digital currency investors to be cautious and make investments in digital assets at their own risk because of its volatility.
However, when we look at the negativity of digital currency and assets, we have to look at its positivity and flexibility in payments as well. It is high time the government started investing in cryptocurrency and powering its ministries with payment processes using blockchain solutions.
There is a report that the government of Portugal bought a lot of bitcoins in its name. The government of Nigeria needs to start emulating leading nationals and key into the future of digital assets.
Internet and cyber security is a major challenges for website and digital technology platforms. How secure is load.ng?
We have made sure that our platform is as secure as possible. We have the secured layer, that is, the padlock (https) on our platform which affirms all transactions happening on our website is fully encrypted and it is fully between the user and the system itself.
|Tunde Buremo, lead developer, load.ng
As the owner of the platform, I don’t have access to the passwords because of the encryption level. We have also put palliative measures in place so that at every point in time we and our user’s data are secured always.
What is the future of digital technology in Nigeria?
The future is now and the experience is already being felt. Like I said earlier, on paxful.com, Nigerians amount for the largest users and that’s the same with blockchain.com and others. Nigerians know the importance of cryptocurrency and digital assets as being the future. I feel in the coming days there will be a wide utilization of digital assets in Nigeria.
The recent rebranding of Nigeria’s Ministry Of Communications to Ministry Of Communications and Digital Economy. What’s Your view?
It’s a welcome development. In my interview with Nigerian Tribune, I stated that communications in this present era has expanded beyond its former reach. Nigeria's ministries have to be restructured to go in line with the present demands of technology. The Ministry of Communications rebranded to the Ministry of Communications and Digital Economy because the country and its citizens are using technology and technology-powered systems.
The country can’t afford to have a Ministry of communications without having a Ministry of the digital economy to leverage technologically powered solutions and government needs to ensure the convenience of technology to its citizens.
LoadNG, logo.com.ng. Who is the brain behind these innovative platforms?
I am the brain behind those brands. I, Tunde Aderemi popularly known as Tunde Buremo is the chief executive officer (CEO) of IBC Design Digital services limited. What the brand does primarily is website development.
The brand also offers solutions to issues in the country with technology. We use technology to power our innovations at IBC Design and logo.com.ng a technology to solve Nigerians' branding problems.
Our other brands are lol.com.ng, where we bring a lot of comedians and comedy to the platforms to solve problems, load.ng is for cryptocurrency solutions, and ibcdesign.com for website development and graphics, search engine optimization (SEO), and every other IT solution.
Any difference between LoadNG and other similar platforms?
Load.ng is a brand that will be used by Nigerians to solve the problems of Nigerians. LoadNG is coming at a point Nigerian digital assets users need a platform that can automate transactions. Load.ng is the brand’s most sophisticated and technologically powered platform.
Load.ng in 5year's time.
In 5 years' time, load.ng will be on the lips of every Nigerian for cryptocurrency solutions, digital assets solutions, bitcoin, Ethereum. In 5 years' time, we will be buying and selling bitcoins. Load.ng will be a wallet on its own like paxful.
Why is Digital technology just being accepted in this part of the world?
Digital technology is just gaining ground all over the world. Digital technology is a brand invention all over the world too. Bitcoin started making waves in the mid-2000s, 2005, and 2006. Facebook started in 2005. The success of these brands has made us have the impressions digital technology has been around for a long time.
In the real sense, these technologies are just starting and that is why load.ng is keying into the world of technological solutions.