More needs to be done to ensure that the Tanzanians understand the risks of crypto trade, says Blockchain Educator interview with
More needs to be done to ensure that the Tanzanians understand the risks of crypto trade, says Blockchain Educator interview with
Tanzanians rely on cryptocurrencies, but more needs to be done to reduce the number of fraud in the industry, said a blockchain teacher.
In a large part of 2021, blockchain companies and supporters of the technology in Tanzania contributed a lot to bring this fintech closer to the simple people in this country. That was either through appeal to
As a result of such efforts more get to know cryptocurrencies better than in the past. On the other hand, the increased trading activities with cryptocurrencies have also forced the Bank of Tanzania to again warn residents of the risks that they are exposed to every trade.
like Sandra Chogo-a blockchain educator based in Tanzania-Bitcoin.com News suggested, more to be done to ensure that the Tanzanians are aware of the risks associated with crypto trading. She also said that the publication of the right information about cryptocurrencies will strengthen the efforts to reduce the number of crypto scams in this country and beyond.
Below you will find some answers from Chogo to questions that were sent to you via WhatsApp.
bitcoin.com News (BCN): Can you explain to our readers why they are committed to the blockchain assessment?
Sandra Chogo (SC): We always look for ways, so I saw the possibilities in blockchain. I have also seen the risks of cryptocurrencies for citizens and the currency system. That made me share my knowledge that I already had to share with government officials. I also wanted to clarify the public about how to avoid fraud and how to recognize or distinguish legitimate opportunities for fraud.
BCN: What have you been some of your successes or milestones so far?
sc: 1) I wrote a book in my state language Kiswahili ”Jielimish Kuhusu Blockchain”
2) I was invited to seminars and conferences in Tanzania and Africa.
3) I was invited to universities where I talked about 4IR technologies and raised awareness of it.
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 who are involved in the blockchain advocacy in Africa. Do you think there are special challenges that prevent women from participating in this work?
sc: African women have many homework that make it difficult for them to look for other, not so simple opportunities. To understand the blockchain, you have to have the time.
BCN: The Tanzanian central bank recently announced that it will check the possibility of issuing a CBDC. Do you see that this will be introduced soon?
sc: The Tanzanian CBDC is still at the beginning. A lot of understanding and research still has to be operated. So that it will not happen so quickly.
bcn: Are CBDCs a good thing in your view?
sc: CBDCs are a good thing. The cost of printing paper money is reduced, which reduces the transaction fees. Less time is required to handle payment.
BCN: Occasionally, some stories about crypto fraud are widespread attention and often regulatory authorities use such stories to suppress or advise against the use of cryptocurrencies. What do you think needs to be done to ensure that the regulatory authorities are aware of the positive side of cryptocurrencies?
sc: It is true that some supervisory authorities use such stories. I don't blame you, maybe it is the only information about cryptos that you have at that moment. The problem is that information about cryptocurrencies is difficult to find and understand. Receiving the right information and understanding cryptos helps to reduce the number of frauds.
BCN: Do you see how much is talking about the mass introduction of digital currencies in the next five years?
The younger generation is the one who introduces digital currencies or cryptocurrencies much faster than the adults. Much of the adoption will be thanks to the younger generation (at the age of 35 and below).
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