We are introducing a new course – Blockchain, Cryptocurrency, and Decentralized Finance: Technologies, Trading and Apps Utilities – in Tekedia Mini-MBA from our next edition (register here). The CEO of Bitfxt, Franklin Odoemenam Peters would lead it. Bitfxt is one of the fastest growing companies in my portfolio. It builds technologies for trading cryptos, etc and recently showcased to the Board a product that would remove location and currency elements in African commerce.
Yes, a solution is coming for that need I noted many years ago: a truly pan-African digital remittance/transfer banking product which is agnostic of location or currency in Africa. Yes, paying someone in Nairobi (Kenya) from Lagos (Nigeria) would seem like paying someone in Kano – another Nigerian city.
At the Institute, we do think that our members need to understand this revolutionary technology, and we are proud to have one of the best in the game to lead the session.
In this videocast, I discuss the need to build a truly pan-African digital remittance/transfer banking product which is agnostic of location or currency in Africa. None of the products we have today meets that standard. Largely, I envisage a situation where all you need to buy and sell across Africa is one bank account in just one African Union country. With that, you do not have to even think about the specific currency of that account as technology will seamlessly make it possible to access other African markets for payments, transfer, etc. The banks or fintech companies must still comply with all regulations related to international transfers, forex, etc. The only difference is that customers will not see them as they will be hidden with technology.