BLOCKCHAIN & CRYPTOCURRENCY EDUCATION IN AFRICA: THE WAY FORWARD
In a virtual blockchain and Cryptocurrency panel discussion with Four Blockchain technology Advocates & Digital assets Innovators. Moderated by the CEO of CoinNewsExtra (Mr. Lee), it was deliberated; “How to get proper Crypto currency & Blockchain
Education in Africa” and Present at the virtual discussion was the CO-FOUNDER OF ZIMBOCASH, Laswet Savadye, SPECIAL ENVOY STATE OF AFRICA DIASPORA, Collins Nnabugwu, PRESIDENT OF
AFRICAN BLOCKCHAIN UNIVERSIY, Afrikanus Adusei and FOUNDER OF E-WEALTH ATLANTIC, Faith Titus.
“How to get Proper Blockchain & Crypto currency education in Africa” Government level and learning institutions recognize and respond to the needs of the Blockhain technology by offering 3rd classes on Blockchain & Cryptocurrency and would leaves everyone of us from doubts, and you see People getting victimized by scams, Victims of Ponzi Schemes, in the bid of thinking it’s the Blockchain technology they are leveraging as a result of finding financial or economic inclusions, from statistics there are over 50 Universities in the World offering Blockchain & crypto currency education, and right here in Africa, you find just few of them who are like minds, offering this opportunity to our people, putting the way forward; that Universities should inculcate Blockchain education & crypto currency into their curriculum activities, Such that students can Learn the potentials and values that the Blockchain technology & crypto currency offer, Says; Faith Titus of E-wealth Atlantic.
And so, Laswet Savadye of Zimbabwean ZIMBOCASH, laid insights on the fact; the starting point of Blockchain technologies education has to be identifying the barriers of Blockchain adoption in Africa, correlating the fact Nigeria, South Africa, Mauritius and other countries in a smaller scale like Tunisia, Sierra Leone, are progressive and others are in different, further saying we have countries like Namibia and Zambia that have Prohibited Blockchain and Crypto currencies so we have to look at it at that level, what’s preventing our country from adopting or acknowledging the benefits that come with Blockchain technologies, ‘It boils down to Political will” we can say yes and say let’s have our universities teach Block Chain technology and it’s applications, but most of universities in Africa are(state On), so as long as the government is unwilling to come to the party, it would be difficult to have Blockchain technologies being taught in our African countries state schools, state colleges, state universities, we need to start at that level, that the policy makers & government need to be taught so they appreciate the advantages that comes with the Blockchain technologies, and he detailed that the job of the government is to make way for innovations that protect the citizens from being taken advantage off, by unscrupulous people who would use this technologies to take advantage of people unethically, Progressive countries like South Africa and Nigeria even thou they don’t have laws guiding Blockchain technology & crypto currency, they aren’t prohibited there..
And SPECIAL ENVOY STATE OF AFRICA DIASPORA, Collins Nnabugwu added that It’s of very importance to have Blockchain technology as a prerequisite for digital Transformations to be properly actualized in Africa, he personally operates in the edge tech technology space, he designed a academy called the cyber future academy, realizing how important it is for Fintech and Blockchain to be a core subject in that academy, so he created a institute of Blockchain technology where they make sure every student passing through the academy gains at least a introduction to Blockchain, “if you look at the digital divide now there’s deficit in transactions China is way ahead of everyone then you look at the size of the markets, the China market, the Brazilian market, I observed days ago China passed into law; a policy that would allow citizens to acquire inheritance through Bitcoin and this validates the relevance of Cryptocurrency” says Collins Nnabugwu..
In Africa we have flagship projects the Acoin crypto city and how it would be powered by the Acoin which is a form of Crypto Currency and specifically to be used in that city, and you know the size of this smart city is quite large and also we hear about the Wakanda smart city in South Africa, and how they want to utilize the africoin and all the rapid and exponential development and transformations Going on in that Fintech space as if pertains to Bitcoin & Cryptocurrency and it should be a basic requirement for anyone going into ICT in the university/academy, and government should adopt policies that encourage training and adoption of Bitcoin and Cryptocurrency.
And more so, PRESIDENT OF AFRICAN BLOCKCHAIN UNIVERSIY, Afrikanus Adusei positioned the
Problem of the government as; they see these technologies as an avenue to lose of control of the system,
Being a way to get rid of their power to mining from thin air. “they have monopolized a way of making
Money for a long time” and he said, most of our universities are in the pockets of our government, Back
When he was in Ghana, he created a flagship for universities that a day ever week would be set aside for
teaching the basics of crypto currency and blockchain technology but this mediums where Blocked
by the universities under the superiority if the government.
Initiatives and institutions in Africa trying to scale up the presence of Blockchain technology and crypto
currency has seem to be motivating and interesting and so media outlets, for example; coinnewsextra
would help this course by creating award programs to encourage this bodies.
Knowing the importance of Blockchain technology globally, that has pushed me to establish a platform
E-wealth Atlantic, which is a Blockchain & crypto currency education center that aids to educate read skills
maximize wealth for people of multi-cultural background to gain financial inclusions through periodic
trainings conferences and seminars, and so she admonishes that programs, academies and organizations
should be set up to educate people.
“EDUCATING REGULATORS (GOVERNMENT OFFICIALS) ABOUT THIS ECOSYSTEM”
Collins Nnabugwu, a SPECIAL ENVOY STATE OF AFRICA DIASPORA, talked about the identifying the
Benefits of the knowledge, the democratization of the Financial sector and making it very transparent, and
told a story of a Politician in Nigeria who is already mining bitcoin and has a currency called PayAFRIK,
advocating the government to pay pensioners/Police services or something, and he plays like a advisory for
the service and using his currency, and so if more people advocate for processes, saying let’s try this out,
and so, what processes are passed out into this blockchain technology, would determine a wider adoption of it.
Mr. Afrikanus Adusei says; the best way to go out about this is through Proof of concepts, we need to build
Projects, that would convince the general public that this things work, we need to push policy makers to go
towards that direction, being at a conference, at Nigeria blockchain summit the deputy governor of CBN,
Said we can’t stop this currency, we can only build policies round it, which was the first time a politician in
Africa said that, Zambia postulated policies to resist the use of crypto currencies, and instructed banks to
Not engage in exchanges with crypto currencies, we can’t educate men who are afraid to lose power, who
are afraid of losing control, these bans are created because they are afraid of losing power, lets prove to
Them we understand them, we are also in the ecosystem the best thing we can do is to organize events that
Would showcase our innovations to them, to Africa, to the world.
And in addition to that —Faith Titus said, in 2016 it was very difficult for people to go to traditional houses and talk about crypto currency, blockchain technology and you dare not mention bitcoin, you would be arrested by NDIC. Inviting government officials for conferences to water down their mind that this innovation they are scared off, isn’t what it is, instead it offers a better way for sharing, storing of information, and how money can be easily transferred, remembering the problem of cross-border payments, letting them know we can use this technology to facilitate intercountry financial transactions, giving officials the mindset to regulate this innovation and deploy its teaching to the educational sectors, and by this we have been able to engage security exchange of Nigeria, educating members of CBN, the government or regulatory officials have been encouraged to draft a committee that would be in control, and draft the crypto currency and blockchain technology operational framework, to be able to safeguard operators and investors and this committee are working, and the frame work has been launched, and contributions have been demanded from people to be able to create a holistic policy/document that would guide the operations of crypto currency and blockchain in Nigeria, and also sometime going to their offices to educate them.
Laswet Savadye of ZIMBOCASH said Education is key and it’s the driver of adoption of Blockchain technology But the question is how do we educate??
And then he said — We should have this modules and programs, where people are taught about blockchain and dispel many misconceptions that are there, when most people here about Blockchain they just think about Cryptocurrency, they are not aware of numerous other application that can be put upon the Blockchain technology and help. Our African economy, all this would be highlight through the educational programmers and suppers what Afrikanus said earlier that we should profile the use cases that already happening in the Africa Continent by that, it would become clear it’s not just Cryptocurrency but there are other instances Blockchain technologies can be used, we have Blockchain activist they need to come in and apply enough pressure to policy makers to adopt policies that create a conducive environment for Blockchain projects to proliferate In Africa.
Also the avenue to convince Non-governmental International financial institutions who supply aids to African countries and have already adopted the Blockchain technology, in terms of trying to get rid of corruption among the middle men, and so to get them to commend African countries to also adopt the system of Blockchain technologies so as to totally wipe out corruption during the transition of this aids.
And now, talking about what the guests institutions have being doing to promote Blockchain technology and crypto currencies; At E-wealth Atlantic, we’ve been able to affiliate ourselves to bodies that delivers professional models on Blockchain and Crypto currencies to help financial services, business owners, entrepreneurs, Public administrators and students to better understand the underlying concept of the blockchain technology and crypto currency, then how it would likely interact with the existing traditional business operations and how it would complement those existing business operations and how financial systems can be optimized, also what opportunities exist for innovations especially in digital assets and governance. Blockchain offers the opportunity to have data integrity and share data transparently and we are looking at developing a ecosystem where institutions, government and business enterprises can come and make researches of information’s for decision making purposes, and have people in the ecosystem that would provide this information’s and validators that would validate the information’s and at the end of the day these records are being integrated into the Blockchain, such that anybody anywhere coming into Africa to ask about blockchain solutions or business solutions can find credible data that would help them make better business solutions or financial models in the future.
“HOW DO YOU SEE THE FUTURE OF BLOCKCHAIN AND CRYPTOCURRENCY WITH PROPER EDUCATION IN AFRICA..??”
SPECIAL ENVOY STATE OF AFRICA DIASPORA— Collins Nnabugwu said It’s the best way to go (Blockchain technology and crypto currency) everyone who’s in the digital divide knows it’s the best way to go and in Africa we expect a lot of revolution in this decade, because this decade has been a witness to cross borders activities, trade, etc. And it’s obvious we have entered the 4th industrial revolution…A lot of dynamics are emerging where people won’t have to be in physical place for transactions and many other means for transactions would be contradictions, and everyone would want to go the way of Blockchain technology and Cryptocurrency, also you see the diaspora remittances back to Africa, that has been a very major complain in the Fintech sector. The diaspora getting involved and trying to shift their money back to the continent you would see the future, that Cryptocurrency is the future of remittances(transactions) and of the financial industry, a lot of credence being lent to the Blockchain technology as a very strong sector and one of it would be agriculture and seeing Nigeria has a large market and Africa also has a large market, and we also this July we expect the launch of the African continental free trade area, which is going to encourage a lot more mobility in terms of cross border activities and intrafrica trade. And all this would require more avenues of remittances which Blockchain technology can comfortably fill those needs.
And ZIMBOCASH CO-FOUNDER, Laswet Savadye added— Africa is ripe for Blockchain technologies adoption, In fact we are desperate for it, just that most people are not aware and this is where education comes in, looking at the mobile phone usages that grew less than 3% to more than 80% in a decade, Africa has the potential to be at lead in the Blockchain industry we just have to keep pushing, “…Blockchain technology and Cryptocurrency is the future for financial institutions and Payment gateways, and creating jobs for institutional investors who come into Africa as a way of livelihood” said Faith Titus of E-Wealth Atlantic
And Mr. Collins lastly added that “Africa is the future, we don’t have to just be there and doing what we have to do all alone, we have to come together and unite, what’s going on in America right now is a wakeup call on all of us to think home, to think of what we can do to develop our continent, and I encourage everyone to think home and think of Africa..”
Watch the panel discussion video here