Read

At Technext&nbsp;<a href="https://events.technext24.com/coinference?_ga=2.120200896.939871067.1696183916-230903988.1696183910">Coinference 2023</a>, with the theme, Disruptive Tech: New Frontiers, New Opportunities, <a href="https://ng.linkedin.com/in/yelebademosi" target="_blank" rel="noopener">Yele Bademosi,</a> the CEO and co-founder of Nigerian blockchain company Nestcoin spoke about the importance of the blockchain in creating broader financial services and giving Africans new opportunities to participate in the global financial markets. 
“Your geographical location should not determine the financial services that are available to you,” Bademosi said. 
The session, a fireside chat titled “Building Africa’s next blockchain unicorn: wins, challenges and opportunities ahead,” moderated by Technext’s Business Chief, Anderson Ozakpo, comes at a time when funding for the crypto ecosystem has become dire and prices of assets have been fluctuating erratically. 
“There is still a lot of hope and that is why we are still having conversations at events like this,” Ozakpo assured. 
Bademosi also spoke about the focus of the ecosystem in the last few years by political leaders as evidence of a bright future for crypto in Africa. “Africa will begin to have more open regulatory fairpoint that African businesses will use to produce innovative solutions,” he said.<span style="font-size: revert;color: var(--cs-color-primary);font-family: var(--cs-font-base-family), sans-serif;font-style: var(--cs-font-base-style);font-weight: var(--cs-font-base-weight);letter-spacing: var(--cs-font-base-letter-spacing)"> 
<figure class="wp-block-image size-full">
 <img width="802" height="534" src="https://technext24.com/wp-content/uploads/2023/10/Coinference-attendees.jpg" alt="Regulatory uncertainty is the reason why police would term crypto traders fraudsters- Blockchain leader" class="wp-image-216683">
 <figcaption>
 Attendees at Technext Coinference 2023
 </figcaption>
</figure> 
Even at this time when funding has been stunted, Bademosi is optimistic about the future of the ecosystem. For him, the marker of hope is in the valuation and utility of the industry and the assets. “The price is the indicator of value,” he said. “Africa is responsible for 3 per cent of the blockchain global market.” This contribution underscores the importance of the region at a time of grave economic upheaval. 
<a href="https://technext24.com/2021/08/01/yele-bademosi-steps-down-as-bundle-africa-ceo-emmanuel-babalola-takes-over/">Read also: Yele Bademosi steps down as Bundle Africa CEO, Emmanuel Babalola takes over</a> 
<h3 id="yele-bademosi-on-the-need-to-be-resilient">Yele Bademosi on the need to be resilient</h3> 
The current AI boom also presents the resilient spirit of the African ecosystem. 
“If you look at AI and ChatGPT, the truth is that decades ago, we had what was called the AI winter when funding for the ecosystem all but paused,” he said. 
But in the past few months, a wave of AI boom has awakened funding for the space, leading many startups to over a billion-dollar valuations. 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full">
 <img width="4032" height="3024" src="https://technext24.com/wp-content/uploads/2023/10/IMG_0475.jpg" alt="Nestcoin's Yele Bademosi on the future of the crypto ecosystem in Africa" class="wp-image-216736">
 <figcaption>
 Yele Bademosi speaking online at Technext Coinference 2023
 </figcaption>
 </figure>
</div> 
But for the ecosystem to remain, Bademosi stressed that leaders must remain steadfast in their goals for wanting to build in the ecosystem. For him, it’s a passion to “accelerate Africa’s transition to accept stablecoin.” 
The CEO further advised crypto enthusiasts not to be discouraged by current trends and to find strength in their initial purpose for getting into the space in the first place. “As an entrepreneur, builder or developer in the space, you need to have your ‘Why.’ Whatever drives you has to be something that is so fundamental to your being, that regardless of the challenges, you’ll keep going,” he said.

Yele Bademosi insists blockchain is giving Africans access to global financial markets despite current realities

Table of Contents

Technext.ng

Other articles published on Oct 2, 2023

VeChain (VET): Price Prediction For October 2023

Binance CEO Disputes SEC Claims, Denying Binance.US Ties to Ceffu

Biggest Crypto Gainers Today on DEXTools – BUGMAN, Xpro, PAW

Mine Blocks, Earn Bitcoin: Minecraft Server Satlantis Turns Gaming into Cryptocurrency Mining

Is It Too Late to Buy Render? RNDR Token Rallies Up 6% as Licensed Crypto Casino Starts Raising F...

Congress Passes Funding Bill to Avoid US Government Shutdown

Join our free newsletter for daily crypto updates!