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Re: A Thread To Discuss All Things Fintech In Nigeria by y3mi(m): 2:17pm On Apr 20, 2023
Bloomsbury:

First of all, as a startup founder, you shouldn't care if anyone should sue you for their idea.
I think you misunderstood the question as you've gotten it the other way round. I believe I have re-delivered it better HERE with specifics.

Bloomsbury:

Infact no one will sue you except maybe IBM, since they have the highest patent.
What if IBM steals from you something that's not theirs nor among any part of their patents ? There are laws in IBM's country that inhibits IBM from doing that, for your own protection.

Currently it is a waste of time and VC money to patent a software idea unless you have a Ph.D original research on it which implies you should be credited for your work.

Please take note. Startups or businesses don't die off from having competitors. Ideas aren't important, what is important is execution and the team building it.
I can tell you all my startup ideas but the question is, can you build it? Can you bring it to the market? What do you even know about the business model, do you have the right team with years of experience to build it (this one isn't relevant unless it a biotech company).

If you are talking about a software company, patents or IP doesn't help. Patents/IP are mostly useful for Biotech and Pharmaceuticals companies not SOFTWARE STARTUPS.

The wise thing to do if you think you have an original idea for a software is to build it into an API and sell access to that API.

With this method, different startups can be born from your idea and they will still be paying you homage.

When you have built your original idea into an API, there are a few tricks you can do to make you still a BOSS in the game.

1. Build your original idea Startup (API) in a language very difficult for an average programmer to build. Build your software in a language that it will be very difficult for the average Startup to get a programmer in that language to remake what you have built.

For instance, build your software or API in LISP, HASKELL, BRAINFUCK, C, ASP.NET etc

For this method, you can code your software in normal programming language and ask OpenAI chatGPT 4 to rewrite the code into any of the languages below.

2. When writing the codes for your original idea Software, obfuscate the code. Make it almost impossible for the general public to get access to the code and read it. Make your video extremely hard to read and understand.

There's this CIA Software that was among the Vault 7 leak of that Year. The Software can make your code impossible to be read by others or other computers. I think the name is EgosticalGiraffe. Or just search for CIA vault 7 WikiLeaks softwares and you will see it.

3. Build your original software and sell immediately on Aquire formerly known as Microacquire. If it's an original idea, am sure you will sell that idea Software for $5M to $30M on Aquire or Microacquire within days .

But take note, your original idea Software should have made some revenue before you decide to sell it. This way your buyer can validate that people are willing to pay for your idea Software.

To be sincere, I don't know much about Nigeria Startup legal ecosystem. Nigeria Startup system is still young.

The last time I went for a Blockckchain conference in Abuja and decided to participate in a competition as an impromptu to see how the thing goes and without an effort I came third among 15,000 contestants, I knew we have a long way to go regarding tech in Nigeria.

It was one Indian boy of 16yrs that came first 😁
In fact, from the lot you've shared on this thread, it's clear you're a tech veteran to which I will be asking more later on as the page progresses, for now, you can drop in your opinions regarding my responses to the last three posts or thereabout.

Thank you for your time.
Re: A Thread To Discuss All Things Fintech In Nigeria by Princedapace(m): 2:43pm On Apr 20, 2023
y3mi:

Yes actually, are you a React Native developer ?
If yes, would you advise deploying RN for both iOS and Android or hire specialist in Swift and Objective-C for iOS, and Java and Kotlin for Android ?

React Native should solve almost all your problems for both platforms. Except you are doing something that React Native can't handle.
I am a react native developer
Re: A Thread To Discuss All Things Fintech In Nigeria by y3mi(m): 1:04am On Apr 22, 2023
Princedapace:


React Native should solve almost all your problems for both platforms. Except you are doing something that React Native can't handle.
I am a react native developer
Just as I thought.
Thanks for sharing
Do you freelance or run your own tech outfit?
Re: A Thread To Discuss All Things Fintech In Nigeria by y3mi(m): 11:07am On Apr 22, 2023
airsaylongcome:
So someone please explain the business model of the Fintechs. How do they make money?

Also ELI5 all the jargon/verticals like Paytech, neobank blah blah blah
Most of the fintechs in Nigeria are pay tech which means they provide payment services where users make payment for bills or in request for a services and secondly the services of transferring funds from one user to another, payment transfer merchant to customers.

Others operators within the Nigeria fintech space can be categorized under those that are - gateway, switcher, processor, issuers, investment/insurance, escrow, savings/loaning etc

You can check the attached image above.

As for business model- each company have their respective model of operating their businesses. It goes further than just B2B, B2C etc
Re: A Thread To Discuss All Things Fintech In Nigeria by Princedapace(m): 1:17pm On Apr 22, 2023
y3mi:

Just as I thought.
Thanks for sharing
Do you freelance or run your own tech outfit?
I freelance
Re: A Thread To Discuss All Things Fintech In Nigeria by y3mi(m): 2:02pm On Apr 22, 2023
Princedapace:

I freelance
Great! Which is the best way to get in touch with you?
Re: A Thread To Discuss All Things Fintech In Nigeria by Princedapace(m): 3:28pm On Apr 22, 2023
y3mi:

Great! Which is the best way to get in touch with you?

Whatsapp:
0 8 0
2 2 7
5 9
8 3 2
Re: A Thread To Discuss All Things Fintech In Nigeria by y3mi(m): 10:44pm On Apr 22, 2023
Princedapace:


Whatsapp:
Got it, you can now modify your post to remove your line. Mobile contacts harvesters are on the prowl.
Re: A Thread To Discuss All Things Fintech In Nigeria by y3mi(m): 6:11pm On May 05, 2023
truthCoder:


CAVEAT EMPTOR.

Do not discuss anything with him without him disclosing the VC he is working with and a certifiable power of attorney.

After that, sign a proper non disclosure agreement with him before proceeding.

You should verify any document he provides BEFORE discussing with him.

At the end of all discussions, and after getting an insight into your idea dynamics, he would offer you a very ridiculous offer so that you would either be so angry and pull out or so stupid to accept. And that is the goal, so you leave but he has the ideas.

Dont let them use baits to harvest your ideas.

You have been warned.

TruthCoder, muchos gracias!

I just came up on that thread and I figured him for a legit seeker, until I came about your replies to him.

I’m just simply Wowed!

I respect your experience, knowledge base and invaluable insight into the working of this murky tech industry in Nigeria. Also, Bloomsbury and a host of others. I hail you guys!

If you haven’t made that thread to warn others about the dangers of falling into the cunning traps of hawks disguised as VC reps, please kindly do as it would help a lot of founders and coders. I’m very wary of tech vampires too; those who have no coding nor entrepreneurial skillsets but have mastered the craft of beguiling the unsuspecting into divulging ideas only to go pitch it to potential funders, comes back to hire you to build your very own thing. A lot of them exist as well in alluring variety.

I just emailed you on Proton.

Kindly response.

1 Like

Re: A Thread To Discuss All Things Fintech In Nigeria by truthCoder: 6:23pm On May 05, 2023
y3mi:

TruthCoder, muchos gracias!

I just came up on that thread and I figured him for a legit seeker, until I came about your replies to him.

I’m just simply Wowed!

I respect your experience, knowledge base and invaluable insight into the working of this murky tech industry in Nigeria. Also, Bloomsbury and a host of others. I hail you guys!

If you haven’t made that thread to warn others about the dangers of falling into the cunning traps of hawks disguised as VC reps, please kindly do as it would help a lot of founders and coders. I’m very wary of tech vampires too; those who have no coding nor entrepreneurial skillsets but have mastered the craft of beguiling the unsuspecting into divulging ideas only to go pitch it to potential funders, comes back to hire you to build your very own thing. A lot of them exist as well in alluring variety.

I just emailed you on Proton.

Kindly response.

Thanks so much.

I didn’t get the email

truthcoder at protonmail dot com
Re: A Thread To Discuss All Things Fintech In Nigeria by y3mi(m): 6:29pm On May 05, 2023
truthCoder:


Thanks so much.

I didn’t get the email

truthcoder at protonmail dot com
Just sent it
Re: A Thread To Discuss All Things Fintech In Nigeria by Nolevel666: 9:49pm On Jul 22, 2023
y3mi:

TruthCoder, muchos gracias!

I just came up on that thread and I figured him for a legit seeker, until I came about your replies to him.

I’m just simply Wowed!

I respect your experience, knowledge base and invaluable insight into the working of this murky tech industry in Nigeria. Also, Bloomsbury and a host of others. I hail you guys!

If you haven’t made that thread to warn others about the dangers of falling into the cunning traps of hawks disguised as VC reps, please kindly do as it would help a lot of founders and coders. I’m very wary of tech vampires too; those who have no coding nor entrepreneurial skillsets but have mastered the craft of beguiling the unsuspecting into divulging ideas only to go pitch it to potential funders, comes back to hire you to build your very own thing. A lot of them exist as well in alluring variety.

I just emailed you on Proton.

Kindly response.
Meh I’ve made stupid mistakes on that too.
Glad they were ideas that would take like 5 years to complete.
Them go suffer
Re: A Thread To Discuss All Things Fintech In Nigeria by y3mi(m): 9:26pm On Aug 10, 2023
Crystalom36:
no sir. But location no be problem
It's quite sophisticated what I need done and would require close contact interaction for its development.
Where are you ?
Re: A Thread To Discuss All Things Fintech In Nigeria by Crystalom37: 8:14am On Aug 11, 2023
y3mi:

It's quite sophisticated what I need done and would require close contact interaction for its development.
Where are you ?
anything can be discussed on WhatsApp. I'm actually in kogi
Re: A Thread To Discuss All Things Fintech In Nigeria by y3mi(m): 10:37am On Oct 12, 2023
Feel free to join my

Den of Coders platform

Mesaage me on 0901 885
9242
to send you the WhatsApp link.

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