The Algorand team announced in a tweet on Monday that Koibanx has partnered with Developing Africa Growth. The partnership will see the two entities develop Nigeria’s official platform for the commercialization of all intellectual property (IP) in the country on the Algorand blockchain. Koibanx is dedicated to building a next-generation financial infrastructure while Developing Africa Growth focuses on creating jobs and pan-African trade services.
Algorand is an open-source, permissionless, Pure Proof-of-Stake (PPoS) blockchain protocol for “the next generation of financial products”. As such, Algorand ensures "full participation, protection and speed within a truly decentralized network". ALGO is trading at $0.4212 at press time, down by more than 4% in the last 24 hours.