Blockchain educators say that more needs to be done to ensure that Tanzanians understand the risks of crypto trading – Interview Bitcoin News


A blockchain educator said that Tanzanians are accepting cryptocurrencies, but more work is still needed to reduce the number of scams in the industry.

For most of 2021, Tanzanian blockchain entities and supporters of the technology have done a lot of work to bring this financial technology to ordinary people in the country.This has passed Roadshow Or investment commitment. These efforts have also been supported by President Samia Suluhu Hassan. obviously Embrace technology.

Because of these efforts, more Tanzanians are more familiar with cryptocurrencies than in the past.On the other hand, the increase in cryptocurrency trading activities has also forced the Bank of Tanzania to once again warn The risks faced by residents every time they trade.

However, as Tanzanian blockchain educator Sandra Chogo suggested to News, more work still needs to be done to ensure that Tanzanians understand the risks involved in crypto exchanges. She also stated that publishing correct information about cryptocurrencies will promote efforts to reduce the number of crypto scams in the country and other regions.

Below are some of Chogo’s answers to questions sent to her via WhatsApp. News (BCN): Can you explain to our readers the reason for your involvement in blockchain promotion?

Sandra Jogo (SC): We are always looking for opportunities, so I see opportunities in the blockchain. I also saw the risks of cryptocurrency to citizens and the monetary system. This makes me want to share the knowledge I already possess with government officials-in terms of knowledge. I also want to educate (or inform) the public how to avoid fraud, and how to identify or distinguish between legitimate opportunities and fraud.

BCN: What achievements or milestones have you achieved so far?

SC: 1) I wrote a book “Jielimishe kuhusu Blockchain” in my local language Swahili

2) I was invited to participate in seminars and conferences in Tanzania and Africa.

3) I was invited to the university, where I talked about and improved my knowledge of 4IR technology.

4) I am the managing partner of Blocktech, a company that focuses on blockchain awareness and training.

BCN: You are one of the few women involved in the promotion of blockchain in Africa. Do you think there are specific challenges that prevent women from participating in this work?

SC: African women have a lot of housework responsibilities, which makes it difficult for them to find other less simple opportunities. To understand the blockchain, you need time.

BCN: The Central Bank of Tanzania recently stated that it will start exploring the possibility of issuing a CBDC. Do you see this coming soon?

SC: Tanzania CBDC is still in its early stages. Also need to do a lot of understanding and [CBDC launch] It won’t happen soon.

BCN: From your point of view, is CBDC a good thing?

SC: CBDC is a good thing. The cost of printing banknotes will decrease, so transaction costs will decrease. The time for settlement of payment transactions will be reduced.

BCN: Occasionally, some crypto scam stories do cause widespread concern, and regulators often use these stories to boycott or prevent the use of cryptocurrencies. What do you think needs to be done to ensure that regulators are aware of the benefits of cryptocurrency?

SC: Some regulators did use such stories. I don’t blame them, maybe this was the only information they had about cryptocurrency at the time. The problem is that it is difficult to find and understand information about cryptocurrencies. Obtaining the correct information and knowing the password will help reduce the number of frauds.

BCN: Do you see widespread discussions about the large-scale adoption of digital currencies in the next five years?

The younger generation is the generation that adopts digital currency or encrypted currency faster than adults. So much adoption will be attributed to the younger generation (35 years old and below).

What are your thoughts on this interview? Tell us what you think in the comments section below.

Terence Zinwara

Terence Zimwara is an award-winning journalist, writer and writer in Zimbabwe. He has written a large number of articles about the economic difficulties of some African countries and how digital currencies can provide a way out for Africans.

Image Source: Shutterstock, Pixabay, Wikimedia Commons

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