We’ve grown up knowing that money is largely paper and comes in the form of notes. That is why it’s a lot easier for one to identify the US Dollar and differentiate it from the Euro or Uganda Shilling.
The way we perform what we do and even how we see things has changed as a result of technological advancements over time. Currently, digital currencies and money also known as cryptocurrencies are taking over. However, as the global craze for cryptocurrencies grows, many people are unaware of what they actually are.
ShukuruCrypto, is working towards helping local Ugandans understand crypto payments by enabling them to access the service through USSD.
According to the founder, Mwesigwa Jovan Balambirwa, many people are intimidated by the charts and tokenomics in the crypto industry and he hopes that with easy access to crypto services through USSD, they will be encouraged to participate in the crypto world.
He said, “ I developed ShukuruCrypto, when most of my friends wanted to start using crypto, but always got intimidated by the charts and tokenomics that lies in most of the crypto exchange apps. They wanted something simple that is similar to how Mobile money works but instead using crypto. I thought, why not make something familiar to everyone but at the same time use the new technology.”
“I think it will open doors to everyone that wants to use crypto in their lives because all you need is a phone, any phone with GSM network can work and carry out the transactions,” he added.
Jovan’s crypto journey started in 2018 after he read Mastering Bitcoin by Book by Andreas Antonopoulos.
With this guide, he was able to gain a few insights on designing programs on the blockchain. He also added that he was intrigued by the whole concept and was able to assess the limitations of building blockchain applications.
Given that his tech background, skills, and knowledge were an added advantage, he was able to come up with the ShukuruCrypto solution.
At the moment, the solution is still in the beta stages of development and the team hopes to launch it next month. He said,
“Currently, we are still in the beta stages of our development, working to launch next month. We’ve been running some tests all along and we’ll continue to do as we work on to improve the service for the better.”
Jovan also pointed out that the adoption of crypto in Uganda is steadily growing and with current economic problems like inflation, most people seem to be relying on crypto despite the existing bear market.
He further adds that this is why ShukuruCrypto intends to make it simple for the locals.
“With current problems like inflation, I think crypto is becoming the other option. ShukuruCrypto intends to make it simpler that even someone in the village can have crypto transactions without looking at charts, buying an expensive phone, or paying for expensive internet.”
At the moment the platform only has Bitcoin, Ethereum, and USDT and hopes to add more currencies to give the application a big sense of fluidity and more options for everyone to benefit.