OnyxPay, the decentralized Kenyan exchange went live on 1st August 2019.
According to the update above by the OnyxPay CEO, Anthony Saint:
“We have been working around the clock to make OnyxPay a great success. OnyPay is a decentralized payment platform with which we intend to integrate with all payment gateways across the globe to process payments in every arena of industry and service.”
OnyxCoin, a stable African utility coin created by Kwakoo Group, the company behind OnyxPay, will be exchangeable on OnyxPay where users can be able buy and sell the coin.
According to Saint, OnyxCoin will be listed on 3 popular exchanges. The token is already approved to be listed on the Latoken Exchange.
OnyxChain will be listed on LATOKEN soon!
Onyx is a digital asset engineered on OnyxChain to facilitate universal payments on a broad spectrum of industry and service and bank the unbanked via OnyxPay.
— LATOKEN (@latokens) July 22, 2019
A look at the OnyxPay whitepaper, which was exclusively shared with BitcoinKE, reveals the platform has the following features:
- Know Your Customer (KYC) requirements
- An agency network that rewards agents similar to MPESA
- An agency model that facilitates both deposits and withdrawals from OnyxPay
- An Escrow smart contract and resolution system
- OnyxPay employs the consensus-based version of the dBFT (Byzantine Fault Tolerance) consensus protocol and the verifiable random function (VRF) consensus engine.
In addition to the above, Kwakoo is also investing in the Kwakoo Academy that seeks to teach users across Africa on blockchain and cryptocurrencies in order to prepare them for the revolution that is coming.
Kwakoo has made great in-roads across a number of East and Central African countries beyond Kenya including Uganda, Rwanda, Congo, and Zambia among others.
Users will be able to start registering accounts from August 2019.