Mr Adedeji Owonibi is a techpreneur, blockchain solutions advocate, digital assets investor and Founder/Chief Operating Officer of Convexity.
Recently, Citi Group said the crypto market has decoupled itself from the stock market, meaning that as the stock market is going down, the crypto is going down also. But they are now having different lives of their own. So, this is a very good one for people who want to be on the edge to move into the move into crypto space.
$5.9bn was lost to crypto scams globally with Nigeria being among the top three countries in Africa that lost the most. What can be done to reduce global crypto scams? People must avoid freebies. We like outrageous returns. We like miracle investments. Those were the things that were mentioned in the cryptocurrency scam that took place recently. Nigerians should know that anything too good to be true is not. For example, someone called me recently, someone called me online that they were going to organise one conference in Eko Hotel, where investors and big banks would come, promising to give me a speaking slot to talk about my products.
There have been a lot of complaints about the failure of BVAS in the just concluded presidential election. What role can blockchain play in ensuring credible elections in Nigeria? The immutability of blockchain is the reason we should be looking at blockchain because we have serious trust issues in this country. Blockchain is the only trusted technology in the world today is blockchain. It is called the truth machine. It is easy for you to put something in blockchain and ensure that nobody can change it is the interesting thing about blockchain technology. So, that is what we should be looking at.
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