Tim Hogins has launched Blacqmarket, the first online global marketplace securely backed by a blockchain in South African townships. Hogins is the founder of South Africans Green Outdoor Gyms, GOG Lifestyle Parks (GOG Gardens Soweto) and Happy Island, the biggest water theme park in Africa.
Hogins, who hails from Randfontein, owns Hogins Enterprises, a diverse group of companies.
A former security guard turned business magnate (serial entrepreneur, investor and philanthropist), says Blacqmarket is an equal opportunity large scale employer, proud supporting SMME entrepreneurship.
“We live in unprecedented times. With the constant threat of unemployment, economic downturn and the COVID 19 pandemic weighing heavily on potentially 11 million South Africans unemployed. A huge percentage of these being youth, it comes with no doubt our future is at a perilous point. This is why Blacqmarket is an urgent solution needed,” explains Hogins.
Hogins has created the solution for entrepreneurship on the African continent, not just South Africa. Using cutting edge technology, Blacqmarket is an equal opportunity large scale employer, proud to support SMME entrepreneurship.
It brings together the possibility of kick-starting the largely informal sector by bringing them online safely and securely.
The platform promises to afford the common businessperson a solution that will make them continue to trade and fairly earn despite the situation on the ground.
Blacqmarket is the first online global marketplace securely backed by a blockchain and aims to be the largest black-owned e-commerce platform in Africa.
On the platform, goods will be manufactured on demand as informal traders do not have huge warehouses where they manufacture goods in bulk and store them.
A consumer will place an order for a product, pay for it and will be able to pick it up at a Postnet branch.
On the platform, all packages below 5kgs are shipped free.
A shop on Blacqmarket offers most secure e-commerce blockchain-enabled platform.
Each shop will attract an annual fee of R1200, a fee a third cheaper than Blacqmarket’s closest competitor.
This annual fee is converted into the eZar cryptocurrency which retains the value of the fees. Administrative fees will go towards the maintenance of the site and advertising costs to drive traffic to the site.
The Blacqmarket platform offers this safe haven by running a cryptocurrency ecosystem, where it’s pegged 1:1 to the Rand.
Each shop will have a shop assistant that will be an unemployed youth to assist in the unemployment challenge.
The Blacqmarket platform aims to be the solution that will help not just any SMME but generate employment down the line, said Hogins.