 | |
| Nickname | FemCo |
|---|---|
| Founder | Odunayo Eweniyi Damilola Odufuwa |
| Founded at | Lagos, Nigeria |
| Location |
|
The Feminist Coalition is a group of young Nigerian feminists who work to promote equality for women in Nigerian society. [1] [2] [3]
It was co-founded in July 2020 by Damilola Odufuwa and Odunayo Eweniyi. [1] [4]
In October 2020, a series of mass peaceful protests against police brutality in Nigeria with the hashtag and slogan “End SARS” began. The protests called for the complete disbandment of the Special Anti-Robbery Squad (SARS), a police unit with a history of abuse of power. The members decided its first project would be to support the peaceful protests through ensuring the safety of Nigerians exercising their constitutional rights. [5] [6]
On March 12, 2021, it was reported by Nigerian media outlets that the organization and its members withdrew ₦23,000,000 [7] (equivalent to $51,000 [7] per exchange rate) worth of Bitcoin from the EndSARS account and deposited it into private accounts. [8] [9] The feminist coalition released an official statement that contained their evidence [10] of no wrongdoing and refuted any act of financial malpractice or privatizing any monies. The evidence was a combination of figures and crypto currency lingua [11] which made it significantly difficult for persons without knowledge on how digital currency works to comprehend. The evidence was eventually tagged as a falsehood by crypto currency traders in Nigeria and third party crypto currency traders outside Nigeria who cited irregularities [12] and factual inaccuracies [12] in their evidence. Furthermore, the evidence provided by the feminist coalition appeared to be somewhat contradictory to what the organization claimed during the 2020 EndSARS protests in which they claimed all their legal services were pro-bono [13] but their evidence did not support that claim as it showed millions of the Nigerian naira obtained from public donations were spent on legal fees. Crypto currency experts reprimanded the organization for being deceptive and deliberately obsfucating the evidence. [9] [13] [14]
In May 2021, In bid to counter the financial misconduct they were indicted in, the organization released a comprehensive audit report regarding their management of funds obtained through the EndSARS donations but came under negative criticism [15] because the audit report was sent to donors only. This attracted negative criticism as they were yet again accused of censoring information and accused of contradicting themselves once again. The organization claimed the audit reports were sent to the electronic mails of the donors only, but in 2020 during the EndSARS protests the organization claimed the donations they received to finance the protest were made anonymously, which birthed the question of how they knew the identity and electronic mails of the donors if the donations were made anonymously. [15] [16]
Bitcoin is a decentralized digital currency. Bitcoin transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. The cryptocurrency was invented in 2008 by an unknown entity under the name Satoshi Nakamoto. The currency began use in 2009, when its implementation was released as open-source software. The word "bitcoin" was defined in a white paper published on October 31, 2008. It is a compound of the words bit and coin.
Satoshi Nakamoto is the name used by the presumed pseudonymous person or persons who developed Bitcoin, authored the bitcoin white paper, and created and deployed bitcoin's original reference implementation. As part of the implementation, Nakamoto also devised the first blockchain database. Nakamoto was active in the development of bitcoin up until December 2010.
A cryptocurrency, crypto-currency, or crypto is a digital currency designed to work as a medium of exchange through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it. It is a decentralized system for verifying that the parties to a transaction have the money they claim to have, eliminating the need for traditional intermediaries, such as banks, when funds are being transferred between two entities.
Bitcoin is a cryptocurrency, a digital asset that uses cryptography to control its creation and management rather than relying on central authorities. Originally designed as a medium of exchange, Bitcoin is now primarily regarded as a store of value. The history of bitcoin started with its invention and implementation by Satoshi Nakamoto, who integrated many existing ideas from the cryptography community. Over the course of bitcoin's history, it has undergone rapid growth to become a significant store of value both on- and offline. From the mid-2010s, some businesses began accepting bitcoin in addition to traditional currencies.
The legal status of cryptocurrencies varies substantially from one jurisdiction to another, and is still undefined or changing in many of them. Whereas, in the majority of countries the usage of cryptocurrency isn't in itself illegal, its status and usability as a means of payment varies, with differing regulatory implications.
Circle began as a peer-to-peer payments technology company that now manages stablecoin USDC, a cryptocurrency the value of which is pegged to the U.S. dollar. It was founded by Jeremy Allaire and Sean Neville in October 2013. Circle is headquartered in Boston, Massachusetts. USDC, the second largest stablecoin worldwide, is designed to hold at or near a stable price of $1. The majority of its stablecoin collateral is held in short-term U.S. government securities.
A blockchain is a distributed ledger with growing lists of records (blocks) that are securely linked together via cryptographic hashes. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. Since each block contains information about the previous block, they effectively form a chain, with each additional block linking to the ones before it. Consequently, blockchain transactions are irreversible in that, once they are recorded, the data in any given block cannot be altered retroactively without altering all subsequent blocks.
Roger Keith Ver is an early investor in Bitcoin, Bitcoin-related startups and an early promoter of Bitcoin. Ver has sometimes been referred to as "Bitcoin Jesus". He now primarily promotes Bitcoin Cash as Ver sees it as fulfilling the intended and original purpose of the "Bitcoin White Paper", first published in 2009 by Satoshi Nakamoto, in which Nakamoto referred to Bitcoin as a peer-to-peer electronic cash system.
The BitGive Foundation is an American nonprofit organization that solicits bitcoin donations for use in charitable causes.
Gemini Trust Company, LLC (Gemini) is an American cryptocurrency exchange and custodian that allows customers to buy, sell, and store digital assets. It was founded in 2014 by Cameron and Tyler Winklevoss. Currently, Gemini operates in 60+ countries, including the United States, the United Kingdom, Canada, Australia, and Singapore.
Digital Currency Group (DCG) is a venture capital company focusing on the digital currency market. It is located in Stamford, Connecticut. The company has five subsidiaries: CoinDesk, Foundry, Genesis, Grayscale Investments, and Luno.
Tether is a cryptocurrency stablecoin, launched by the company Tether Limited Inc. in 2014. As of July 2022, Tether Limited has minted the USDT stablecoin on ten protocols and blockchains. Tether is promoted as being a stablecoin because it was originally designed to be valued at US$1.00.
#EndSARS is a decentralised social movement, and series of mass protests against police brutality in Nigeria. The slogan calls for the disbanding of the Special Anti-Robbery Squad (SARS), a notorious unit of the Nigerian Police with a long record of abuse on Nigerian citizens. The protest takes its name from the slogan started in 2017 as a Twitter campaign using the hashtag #EndSARS to demand the disbanding of the unit by the Nigerian government. After experiencing a revitalisation in October 2020 following more revelations of the abuses of the unit, mass demonstrations occurred throughout the major cities of Nigeria, accompanied by vociferous outrage on social media platforms. About 28 million tweets bearing the hashtag have been accumulated on Twitter alone. Solidarity protests and demonstrations by Nigerians in diaspora and sympathizers occurred in many major cities of the world. The protests are notable for its patronage by a demographic that is made of entirely young Nigerians. The movement has since expanded to include demands for good and accountable governance, considering the unprecedented hardship in the country.
Cryptocurrency and crime describes notable examples of cybercrime related to theft of cryptocurrencies and some of the methods or security vulnerabilities commonly exploited. Cryptojacking is a form of cybercrime specific to cryptocurrencies that has been used on websites to hijack a victim's resources and use them for hashing and mining cryptocurrency.
Odunayo Eweniyi is a Nigerian business executive and activist. She is the Co-founder and Chief Operations Officer PiggyVest and co-founder of Feminist Coalition.
El Salvador became the first country in the world to use Bitcoin as legal tender, after having been adopted as such by the Legislative Assembly of El Salvador in 2021. It has been promoted by Nayib Bukele, the president of El Salvador, who claimed that it would improve the economy by making banking easier for Salvadorans, and that it would encourage foreign investment. The adoption has been criticized both internationally and within El Salvador, due to the volatility of Bitcoin, its environmental impact, and lack of transparency regarding the government's fiscal policy.
Feyikemi Abudu commonly known as FK Abudu is a Nigerian influencer and entrepreneur.
Damilola Odufuwa is a Nigerian business executive and activist. She is the Head of Product Communications at Binance Africa as of March, 2022. She is also the co-founder and CEO of Backdrop and is also the co-founder of Feminist Coalition. She is also the co-founder of Wine & Whine.
Cryptocurrency in Nigeria describes the extent of cryptocurrency use, social acceptance and regulation in Nigeria.
Jọláolúwa Ayẹyẹ popularly known as Jola Ayeye or Jollz is a Nigerian podcaster, media personality, and screenwriter. Along with FK Abudu, she hosts the I Said What I Said, one of the biggest podcasts on the continent. She is also the founding member of the Feminist Coalition, a Nigerian feminist group.