The first edition of the International Blockchain Summit, titled Blockchain Vibes Lagos, was held at Glover Memorial Hall, Lagos on Saturday, July 9, 2022.
The event was packed with inspirational speakers, founders, enthusiasts and other stakeholders in the blockchain and crypto space.
The summit featured interactive keynotes and group discussions, including product presentations from brands such as Qitmeer, Sinso Technology, Bitget and BoundlessPay.
Franklin Peters, CEO of BoundlessPay and Head of Blockchain Vibes Lagos, welcomed everyone and introduced the guests.
He briefly explained why everyone came together and discussed his passion for blockchain and his plans to take the International Blockchain Summit to other parts of the world.
The first keynote speaker for the event was Chimezie Chuta, Partner, Exhibitor and Chairman of the Blockchain Nigeria User Group (BNUG).
He talked about the depth of blockchain technology and how it can help individuals, especially those who live in Nigeria and Africa.
His lecture covered the development, growth and development of blockchain technology in Nigeria. According to Chuta, Nigeria is the leader in financing blockchain startups in Africa.
“More than $91 million have been invested in blockchain startups this year in Africa, with Nigeria receiving about 39% of that investment.”
He added that Adaverse is the leading blockchain startup funding company in Africa. Encourage founders and people building solutions using blockchain technology to visit the Adaverse website and submit their funding requests or contact them via email.
Discussing the challenges of blockchain technology in Nigeria, Chuta said there is no specific regulatory framework. Some of these challenges are crypto scams and Ponzi schemes, technical scalability challenges, and a lack of needed talent.
He suggested some progressive steps and what the Nigerian government should do in the blockchain space.
The government should work with communities and other stakeholders to address stakeholder engagement issues, train staff (retraining and staff development), establish safeguards and regulatory frameworks, and foster supportive legislation.
Immediately after the first keynote, the event’s first virtual panel discussion was held, with Paula Tavangar, Chief Investment Officer at Swissborg Ventures, as coordinator and Numan Ali, CEO of Eumlet, as a member of the panel. They discussed the journey through seed funding.
The second panel session brought together dignitaries from the international crypto community to discuss the crypto market crash and what to expect. This session was moderated by Gray Gapesey, Founder and CEO of Crypto University.
The panel included world-renowned crypto influencers such as AM Crypto, Davinci Jeremie J15, Carl Runefelt and Futurist Kwame.
Gray asked the long-awaited question, “What should we expect with the current crypto market downturn?”
Futurist Kwame said that despite the current crash, he is still working with cryptocurrencies,
“The first thing is that you don’t have to be on a project for a short time; you should think long term.
He advised the audience to focus on long-term value, concluding by saying, “If you understand the technology we’re building, we should know that Bitcoin is Bitcoin.”
AM Crypto said it believes the bear market will continue.
Carl Runefelt predicts that the cryptocurrency is in a bear market and that the traditional financial market is performing poorly. He believes that the best investment should be in bitcoin and gold.
Regarding what the future of bitcoin looks like, Davinci Jeremy J15 believes that bitcoin is still the best form of currency in the crypto space.
Futurist Kwame closed the session, saying no one knows what will happen and adding that people should only put money they don’t mind losing in cryptocurrencies.
Professor Ndubuisi Ikwe delivered the following keynote by default – Founder of Tekedia Capital – who spoke at length on the topic of “Entering the Digital Economy”.
During a panel discussion titled Virtuality to Reality – How Blockchain Technology Is Changing the Real Estate Industry, Tony Obyaguro and Prince David Omagumi (Founder of Landcheck Africa) discussed some impressive use cases for blockchain in real estate technology.
Prince David talked about digitizing land ownership using blockchain technology. He believes there is still work to be done and sees eNaira’s potential and potential use case in the real estate sector.
Finally, encourage the public to start investing in real estate as soon as possible because it is an investment that has the potential to continue to rise.
A recent roundtable brought together Ugochukwu Aronu, CEO of Xend; Ikechuku Okeki, CEO, OBIEX Finance; Emmanuel Babalola, CEO of Bundle; Oluwarotimi Ogunwede, CMO, Patricia Technologies, and others contribute to the debate on the role of exchanges and wallets in blockchain adoption.
The session was moderated by Frank Fagbo, media and communications expert.
Senator Ihenyen, Senior Partner, Infusion Lawyers and Chairman of the Board, Blockchain Technology Association Stakeholders in Nigeria (SiBAN), delivered a recent keynote address and spoke about the need for regulation in the blockchain space. He also discussed the role of SiBAN in the Nigerian blockchain space.
In his lecture, Ihenyen highlighted the need for self-regulation in the blockchain space, concluding that he believes that self-regulation and government regulation can work hand in hand and is welcomed in the blockchain space.