African blockchain infrastructure project taps veteran development company for joint venture
VALLETTA, Malta–(BUSINESS WIRE)–Kamari, a project building blockchain infrastructure across Africa, has announced a joint venture (JV) with ZeU Crypto Networks, a leading blockchain technology innovation and development company out of Canada. The parties will create a Joint Venture entity with the mandate to build digital lottery and gaming applications that will run within the Kamari ecosystem and potentially serve millions of users across multiple countries in Africa.
Kamari looks to develop the fundamental infrastructure that will serve Africa’s population as it doubles to two billion over the next several decades. Africa’s GDP is predicted to increase from $2 trillion today to $29 trillion in today’s money by 2050. The “Blockchain Opportunity in Africa” will also have mobile technology at the center of its massive growth across the continent.
To begin building this ecosystem, the company has secured national lottery licenses across multiple African countries. Once the infrastructure has been created, and the product has been launched, the company will be able to market to over 50 million adult customers exclusively.
Kamari has agreed to set up a joint-venture with ZeU Crypto Networks Inc, a leading blockchain technology development company based out of Canada, to oversee the development of lottery and gaming applications that will eventually integrate with the Kamari mobile wallet. ZeU will handle the technical development of these applications and will also support the use of the KAM currency in its applications including the MulaMail Marketplace, allowing email users to exchange the token between themselves and access the Kamari Ecosystem’s service offering from within their email application. ZeU’s Mula planned peer-to-peer microlending will also be compatible with the Kamari ecosystem.
“We are excited to work with veteran technology developers on this joint venture to start building applications for the Kamari ecosystem,” said Dr. Chris Cleverly, CEO of Kamari. “Our vision is to create a new type of infrastructure that will unlock incredible, never before seen financial benefits for hundreds of millions of people. Essentially, our opportunity is to transform millions of peoples’ lives and provide them with fundamental infrastructure that is vastly more efficient and effective than countries in the Western world, allowing them to empower themselves. We’re looking forward to partnering with ZeU to begin integrating and building some of the applications for that.”
The two companies are in the process of establishing a joint venture entity that will oversee the development and the deployment of an integrated ecosystem. The partners should initiate in short order Peer-to-Peer (P2P) e-commerce initiatives in gaming, eSport, and gambling through participants of Kamari projects running on ZeU protocol and are expected to be a trial by fire for ZeU public protocol.
The partners are planning to deploy in late December, for the purpose of intracompanies testing, a first innovative lottery game using the KAM token. Demonstration to gaming commissions and regulators should be conducted in Q1 2020.
The two companies plan to announce more details of the joint venture shortly. For more information about the project visit: www.kamari.io
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Original Release: Business Wire