The Founder and Coordinator, Blockchain Nigeria User Group (BNUG), Mr. Chimezie Chuta has said the state of crypto in Nigeria and the world in general is still uncertain maintaining that the industry is currently under no regulatory purview of any government, agency or even ministries.
Mr. Chimezie made this know at this year’s edition of the blockchain and crypto art conference 2021 is primarily organized by Blockchain Nigeria User Group (BNUG). A two day event which took place, at civic centre located at Ozumba Mbadiwe Victoria Island Lagos, where the future of money was discussed extensively.
He stated that Nigeria’s premium hybrid blockchain and crypto assets conference was birthed to explore the technology, value and innovation trends to shape the future of money across the world.
He noted that the activities of blockchain have enhanced the growth and development of the ecosystem in the last four years in Nigeria and across Africa.
Meanwhile the Security and Exchange Commission (SEC) has rolled out a notification that it will resume its intension to regulate. As soon as it is done, crypto assets companies will be permitted to run bank accounts.”
Chuta pointed out that one of Africa’s largest and most untapped markets is the creator economy.
He maintained that
NFTs and crypto arts, creators across art, film, gaming, and sports, among others, can monetize followers and intellectual property, which can actually bring about royalties and revenue streams across multiple assets.”
The founder of blockchain Nigeria user group otherwise called BNUG however advised the people of Nigeria to tap into the digital economy and also have the reading mentality and culture as through reading; they can and would however develop themselves and more.
He therefore thanked all the delegates and participants who graced the conference while maintaining that BNUG has a lot in stock for Nigerians and that the next edition of the programme would be splufic and indeed very nice