Blockchain and Crypto Heavyweights come together at the inauguration of the International Blockchain Summit

The first edition of the International Blockchain Summit, entitled Blockchain Vibes Lagos, was held at the Glover Memorial Hall, Lagos, on Saturday 9 July 2022.

The event was packed with speakers, founders, enthusiasts and other stakeholders in the blockchain and crypto space.

The summit featured keynotes and thought-provoking debates, including product demonstrations from brands such as Qitmeer, Sinso Technology, Bitget and BoundlessPay.

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BoundlessPay CEO and Head of Blockchain Vibes Lagos, Franklin Peters, welcomed everyone and introduced the guests.

He briefly explained why everyone got together and talked about his passion for blockchain and his plans to move the International Blockchain Summit to other parts of the world.

The first keynote speaker at the event was Chimezie Chuta, partner, opponent and president of the Blockchain Nigeria User Group (BNUG).

He spoke about the depth of blockchain technology and how it can help people, especially those living in Nigeria and Africa.

His lecture covered the evolution, growth and development of blockchain technology in Nigeria. According to Chuta, Nigeria is a leader in funding blockchain startups in Africa.

“Over $ 91 million has been invested in blockchain startups in Africa this year, with Nigeria taking about 39% of that investment.”

He added that Adaverse is the leader in funding blockchain startups in Africa. He encouraged the founders and people who create solutions with blockchain technology to visit the Adaverse website and submit their funding requests or contact him via email.

Discussing the challenges of blockchain technology in Nigeria, Chuta said there is no defined regulatory framework. Some of these challenges are crypto scams and Ponzi schemes, technical scalability challenges and a lack of required talent.

He offered some progressive steps and what the Nigerian government should do in the blockchain space.

Government should work with communities and other stakeholders to address stakeholder engagement issues, train staff (retraining and staff development), create sandboxes and regulatory frameworks, and sponsor supporting legislation.

Immediately after the first keynote, the first virtual round table of the event took place, with Paula Tavangar, Chief Investment Officer of Swissborg Ventures, as moderator and Nauman Ali, CEO of Eumlet, as speaker. they talked about the journey through the initial funding.

The second session of the panel brought together the heavyweights of the international crypto community to discuss the crypto market crash and what to expect. The moderator of this session was Gray Jabesi, founder and CEO of Crypto University.

The panel included world-renowned crypto influencers in the person of AM Crypto, Davinci Jeremie J15, Carl Runefelt and the futurist Kwame.

Gray posed the long-awaited question: “What should we expect from the current cryptocurrency market crisis?”

Futurist Kwame said that despite the current crash, he is still with cryptocurrencies,

“The first choice is that you shouldn’t be on a project for a short time; you should think long term.

Advising the public to focus on long-term value, he concluded by saying, “If you understand the technology we are building, we know that bitcoin is bitcoin.”

AM Crypto said it was appropriate for the bear market to continue.

Carl Runefelt expects the cryptocurrency to be in a bear market and the traditional financial market to perform poorly. He thinks the best investment should be in bitcoin and gold.

On what the future of bitcoin will look like, Davinci Jeremie J15 thinks bitcoin remains the best form of currency in the crypto space.

Futurist Kwame closed the session by saying that no one knows what will happen and added that people should just put money they don’t mind losing in cryptocurrencies.

The following speech was virtually translated by Professor Ndubuisi Ekekwe: Founder of Tekedia Capital – who spoke at length on the topic “Entering the digital economy”.

During the panel discussion titled Virtuality to Reality – How Blockchain Technology is Changing Real Estate, Tony Obiajuru and Prince David Omaghomi (founder of Landcheck Africa) discussed some impressive use cases of blockchain in real estate technology.

Prince David talked about the digitization of land ownership using blockchain technology. He believes there is still work to be done and sees the potential of eNaira and its possible use case in the real estate sector.

Finally, he encouraged the public to start investing in real estate as soon as possible because it is an investment that has the potential to continue to appreciate.

The final round table brought together Ugochukwu Aronu, CEO of Xend; Ikechukwu Okeke, CEO, OBIEX Finance; Emmanuel Babalola, CEO, Bundle; Oluwarotimi Ogunwede, CMO, Patricia Technologies and others contribute to the discussion on the role of exchanges, wallets in blockchain adoption.

Frank Fagbo, media and communication expert, moderated the session.

Senator Ihenyen, Senior Partner, Infusion Lawyers and Chairman, Stakeholders in Blockchain Technology Association of Nigeria (SiBAN), delivered the latest speech and spoke about the need for regulation in the blockchain space. He also touched on SiBAN’s role in the Nigerian blockchain space.

Ihenyen in his lecture highlighted the need for self-regulation in the blockchain space and concluded that he believes self-regulation and government regulation can work in hand and are welcome in the blockchain space.

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