Ejara, is an investment and saving platform on your mobile phone, where you buy and store cryptocurrencies. Eventually Ejara will also offer tokenized assets to be stored and traded. Ejara is build to be uniquely tailored for the African market. Last year, they took first place in the IDEO - Coinlist Hackathon in the category "Tezos projects". Ejara "soft-launched" mid February this year for Cameroon users.
Ejara is non-custodial. This means that you, and only you hold the private key of your funds. This makes the wallet safer in the sense that there is no centralized party that can be hacked. (Custodial wallet services don't provide their users their private keys and store these keys on servers. So your funds is literally in their custody. Just like funds that you store on centralized exchanges.) The security of your funds is in your hands. This is commonly experienced as a positive, but the downside is the fact that if you lose your keys, you lose your funds. This is however in the line with the philosophy of cryptocurrency. You truly own your funds yourself, it is stored straight on the Tezos blockchain and you do not need to trust any third party. And as long as you store your mnemonic phrase somewhere safe, you will always be able to access your funds on a different or new device, even if you lose your phone.
Working with Mnemonic phrases on mobile devices isn't ideal though. So that would be a downside for non-custodial apps on your phone or tablet. Especially if you store different assets of different blockchains in your wallet, which means you'd need different Mnemonics for each. Ejara is working on a Tezos-based smartcontract set that will make it possible to work with a username and password instead of these long and difficult to remember Mnemonic phrases or Private keys. Read more about the technical side of this solution here.
"We believe it is much more flexible and the use of username and password is also an attractive proposition for a great user experience. We are currently finalizing the smart contract test on carthagenet and planning the integration into Ejara for the benefits of our customers."
