In a bid to bring sanity to the Cryptocurrency space, provide local solution and boost governments trust in the sector, Convexity, a Blockchain firm has launched Nigeria’s first Blockchain Hub and Forensic Lab in Abuja.
The Debut of the Hub, Lab is coming amidst restrictions on cryto. The development is expected to boost enlightenment and synergy among Blockchain firms and help position the country towards hinessing potentials of the Industry, as well as help investigation of criminal activities in the space.
Speaking during the lunch at the weekend, the founder Convexity, Adedeji Owonibi said “It is a historic thing happening, because before now there is no place you can go access the young people using Blockchain, a place where they are educated on the right thing to do, a place we can filter the bad eggs”.
The firm is launching a Blockchain forensic Lab where you can get combine Regulation, and investigation of a fraction can be done.
Also, the firm is looking to bring sanity to the Industry so it will be well noted that it is not an Industry where challantant are allowed but a big Industry where governments of the world are involved.
“We believe Blockchain has come to stay, it is a Technology that has the ability to transform the economies in the world and we shouldn’t be left behind. The government is probably foot dragging because they have not come to terms with it yet, so we are leading the private sector to see that we are keying to it properly and positioning the country alright”, Owonibi further added.
Owonibi speaking on the need for government’s active participation in the development of the Technology, revealed that local solutions have been provided for the learning Institution and aid distribution.
He said, “Blockchain is already transforming lots of Industries around the world and we are well positioned to make sure that our local problems can be tackled using Blockchain. We have issues around transparency in Nigeria, but this Technology helps provide solution.”
We already have two solutions in different areas we want to use this Technology to solve. One of them is aid distribution. Nigeria you know faces issues on palliative distribution .
Owonibi mentioned that the blockchain hub has a solution for aid distribution and they came up with a solution CHADS, Convexity Humanitarian Aid Distribution Solution, built over a year which would show transparency in aid distribution.
“Also, we have created solution for certificate forgery where you can verify certificate and without alteration” Owonibi noted.
While lamenting the effect of the ban on crypto business in Nigeria, Owonibi called on the government to partner with the private sector to help reduce criminality and boost sanity in the cryto space.
He noted that, “The government must begin to look in this direction. The ban by the CBN affected our locally built cryto Businesses whereas our counterparts in other countries of the world are running over billions.
In his remarks, The founder, and Coordinator Blockchain Technology intergroup Chimeaze Chutta, mentioned that with the forensic Lab for Crypto currency transaction, the Industry which is being misconstrued as one ran by errand youths, who probably are involved in using it for neforious activities will be seen as a credible Business which it is.
He said, “People think Crypto currency can’t be traced but there is a cryto investigation lab here with international tool that can be used. These tools are being used by FBI and other international criminal fighting organization to investigate transaction”.
Government agencies and their operators and security agencies lack the skills and understanding of this Technology but the hub provides them the opportunity to learn more about it, so that they can always investigate crimes.