 | |
| Nickname | FemCo |
|---|---|
| Founder | Odunayo Eweniyi Damilola Odufuwa |
| Founded at | Lagos, Nigeria |
| Location |
|
| Website | https://feministcoalition2020.com/ |
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]
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 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 has, in a financial point of view, grown to be its own asset class. However, on the contrary to other asset classes like equities or commodities, sectors have not been officially defined as of yet though abstract version of them exist.
Litecoin is a decentralized peer-to-peer cryptocurrency and open-source software project released under the MIT/X11 license. Inspired by Bitcoin, Litecoin was among the earliest altcoins, starting in October 2011. In technical details, the Litecoin main chain shares a slightly modified Bitcoin codebase. The practical effects of those codebase differences are lower transaction fees, faster transaction confirmations, and faster mining difficulty retargeting. Due to its underlying similarities to Bitcoin, Litecoin has historically been referred to as the "silver to Bitcoin's gold." In 2022, Litecoin added optional privacy features via soft fork through the MWEB upgrade.
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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.
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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.
CoinDesk is a news site specializing in bitcoin and digital currencies. Founded by Shakil Khan, the firm also provides guides to bitcoin for those new to digital currencies.
The BitGive Foundation is an American nonprofit organization that solicits bitcoin donations for use in charitable causes.
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Binance Holdings Ltd., branded Binance, is a global company that operates the largest cryptocurrency exchange in terms of daily trading volume of cryptocurrencies. Binance was founded in 2017 by Changpeng Zhao, a developer who had previously created high-frequency trading software. Binance was initially based in China, then moved to Japan shortly before the Chinese government restricted cryptocurrency companies. Binance subsequently left Japan for Malta and currently has no official company headquarters.
End SARS, widely written as #EndSARS, was a decentralised social movement and series of mass protests against police brutality in Nigeria that mainly occurred in 2020. The movement's slogan called for the disbandment of the Special Anti-Robbery Squad (SARS), a notorious unit of the Nigerian Police known for its long record of abuse against Nigerian citizens. The protests originated from a Twitter campaign in 2017, using the hashtag #EndSARS to demand the unit's disbandment by the Nigerian government. The movement experienced a resurgence in October 2020 following further revelations of the unit's abuses, leading to mass demonstrations across major cities in Nigeria, and widespread outrage on social media platforms. The hashtag #EndSARS accumulated over 28 million tweets on Twitter alone. Solidarity protests and demonstrations by Nigerians in the diaspora and sympathizers occurred in many major cities around the world. Notably, the movement was predominantly led by young Nigerians and expanded to include demands for good governance and accountability, amidst unprecedented hardship in the country.
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. In 2022, more Salvadorians had Bitcoin Lightning wallets than bank accounts. In 2023, Bukele has credited this change to fueling the increase in tourism to El Salvador by 95%. 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. Nigerians are one of the major global users of cryptocurrencies.
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.