Financial and blockchain technology experts have called for a melting point of synergy and convergence for Centralised Finance-CeFi, Decentralised Finance-DeFi and Traditional Finance-TradFi in the country to foster progress and bring about mutually beneficial economic development in the country.
They made this call over the weekend at the inaugural peer-to-peer conference of the Stakeholders in Blockchain technology Association of Nigeria (SiBAN) held at the Civic Centre, Victoria Island, Lagos.
These experts from across the world cutting across different segments in the alternative finance ecosystem spoke to the theme of the conference “CeFi, DeFi & TradFi: is there a need for Convergence in the Current Divergence?” Chief Olutoyin Oloniteru, Founder and Chairman, Crypto Economy Institute of Africa (CEIAfrica) commenced as the first keynote, speaking to the topic, “Emergence of CeFi, DeFi & TradFi: Securing the Future in the Current Divergence.”
Giving a global perspective to the theme of the discourse, Lars Seier Christensen, Chairman of Concordium who is a global pioneer in FX and derivative trading and a co-Founder & former Co-CEO of Saxo Bank addressed participants, speaking on the topic, “The Emergence of CeFi, DeFi and TradFi: a Concordium Perspective.”
Exploring the theme of the conference more broadly, more speakers also spoke at the panel sessions of the conference. In the first titled “Navigating the Opportunities and Risks in CeFi and DeFi, and Exploring Possible Opportunities in TradFi. In the highly engaging session, AbikureTega, Team Lead, Kumon Wallet; Chuta Chimezie, Founder, BNUG & Vice-President, BiCCoN; Eric Anan, Founder/CEO, Global DCA and Rume Ophi, Founder, Cryptopreacher Blockchain Academy were in their elements sharing knowledge on the subject matter. The session was moderated by Chioma Onyekelu, CCI, A&D Forensics.
The last session was on “Crypto Exchanges and VASPs as Partners to Regulators and the Government: Where Innovation Meets Regulation.” Chiagozie Iwu, CEO, NaijaCrypto; Franklin Peters, CEO, BoundlessPay; Beverley Onyejianya-Agbakoba, Partner, Olisa wer e Agbakoba Legal; Oyewole Joledo, Snr. Manager, Paxful; Prince Nwafuru, Partner, The Law Suite; Ruth Iselama, CEO, Bitmama and Seun Dania, CEO, TradeFada were all panellists on this session.
Earlier in his address, President of SiBAN, Mr. Senator Ihenyen while welcoming participants to the event said that the conference was the association’s way of developing the industry. “What we represent is a self-regulatory body in Nigeria’s blockchain industry. With this conference, we want to have a platform where innovators, as well as policymakers and other stakeholders within and outside the industry can have conversations around blockchain adoption, policy and regulation.
“We are looking at P2P not inform of peer-to-peer transactions only but in terms of open one-on-one conversations where we have a marketplace of ideas about how Nigeria should go about maximising the opportunity provided by blockchain technology while also helping to minimise the risk. As a self-regulatory body in this space, we recognise that there are opportunities and that there are risks as well. How we respond to this is what matters,” he said.
Chairman of the P2P Conference Planning Committee, Jude Ozinegbe revealed that the overwhelming turnout by stakeholders in the financial sector especially those who play in the alternative finance segment is a huge indication of the sheer influence SiBAN commands. He also thanked organisations that have played onerous parts in the success of the conference through their partnership support and sponsorship.
These organisations he noted include Alpha ltd, ABCC, BEI, thinkcrypto, Blockchain Vibes, Everest, Crypto Hills, Cryptopreacher Blockchain Academy, Sinso Technologies, Market Advance, Near Finance Protocol, Bitget, Empowered CryptoHub, Smart Investors Hub, Super Woman, GIDA, LUPPON, Finsmart, CryptoMart, MoEX Consult, among others.
L-R: Mr. Senator Ihenyen, President, SiBAN; Chioma Onyekelu, Auditor, A&D Forensics; Chuta Chimezie, Founder BNUG; Paul Ezeafulukwe, Senior Business Developer Manager, Bitget; Rume ‘Cryptopreacher’ Ophi, Founder, Cryptopreacher Academy; Stanley Golomo, Founder, Farmchain Finance and Jude Ozinegbe, Chairman Organising Committee for Stakeholders in Blockchain Association of Nigeria’s maiden P2P Conference held over the weekend
Panelists doing justice to the theme of the conference held over the weekend.
Cross section of participants at the conference held over the weekend.
Stakeholders in Blockchain Technology Association of Nigeria (SiBAN) is a Self-Regulatory Organisation (SRO), an association of blockchain & crypto industry players founded in 2018. Registered members work together to promote a free market for blockchain & crypto players by driving blockchain & crypto education, encouraging the adoption of model self-regulatory policies in accordance with global best practices, and collaborating with relevant bodies to ensure that innovation is not stifled by regulation, consumer protection and investor safety are safeguarded.
At the Nigeria Fintech Week 2021, SiBAN was recognized as “The Best Blockchain Association in Africa”.