By Codratus Godson
Luno Nigeria, a digital money company, wants the Niger Delta region of Nigeria to think beyond oil boom and look to new sectors especially digital money trading and cryptocurrency transactions.
Luno at the weekend mounted a training workshop in Port Harcourt, Rivers State capital, where a full hall of audience enthusiastically went through basic training and advanced trading techniques on cryptocurrency matters and trading.
Luno said the trips round Nigeria were part of efforts to reduce cryptocurrency illiteracy in the country and empower users to not only make informed decisions but also feel safer, Luno Nigeria says the awareness project is called ‘meetup”, a quarterly event that provides the platform for existing cryptocurrency traders, buyers and intending users to learn and share ideas on the evolving trends in the market.
The Marketing/Community Lead, Chinedu Obidiegwu, who spoke at the opening ceremony of the event, told newsmen that Luno was in Port Harcourt to spread the message of cryptocurrency as a new form of money, particularly Bitcoin.
Luno is seen as one of the largest cryptocurrency platforms in Africa that provides regular information on new trends through its learning portal.
Obidiegwu said; “Luno is a crypto currency company that believes that the time has come to embrace a world of better financial. Luno has teams in different regions and the team in Nigeria has taken an approach to build awareness and platforms in geopolitical zones of the world and share this message. In Nigeria, we have been to Lagos successfully and also to Abuja; today, we are in Port Harcourt, the centre of the South-South.”
He went on: “The message is simple; that the financial system that we have today is facing evolution and money as we know it today is changing. Crypto currency is the next phase of money. We do not know if it will help us move into the next phase but Luno is to make sure that people know and understand what crypto currency is about so that people do not hear it from the wrong place and not fall to scammers. We are here to introduce Luno as a responsible business entity that makes it easy and safe for people to buy, sell, store and learn about crypto currency.”
Apart from Luno, Obidiegwu said, there are some other credible crypto-currency platforms, though he would only speak about Luno because at this point, crypto currency sector is new. “Ours is a decision to make it easy and safe for people to buy and sell crypto currency especially Bitcoin. We also make sure people learn about it. We have a platform and we created content across media platforms to ensure people are hearing from a responsible place. We organize a forum like this so people can learn.
“We want to prove that it is a business people can relate with and not such a faceless organization where people may lose money. Crypto currency goes beyond the investment and trading bit that has volatility but for us it concerns the ability to factor easier and safer platforms. That is our hallmark and focus.”
In some places we go to, he said, people want to know the position with government regulation on this matter. “We know that a couple of years ago, the federal government was about to roll out a policy on crypto currency after a committee it set up had submitted a report on what the government should do about the digital money. The FG held back due to the crash in value worldwide and the panic it brought. We know that the FG is yet to make its position known on the matter and may still be studying it. We believe that they are still working on the policy position.
“We know that the Central Bank of Nigeria (CBN) released a message to the banks not to invest customer funds in crypto currency. They however cautioned people on investing in it. That is also Luno’s position because crypto currency is money. It is a store of value and many people have built different businesses around it, whether genuine and Ponzi schemes. That is why we at Luno say it is essential that regulation happens quicker. We are eager for regulation and we at Luno self-regulate. We also liaise with the CBN to help with the process from an industry-player point of view. So, when the FG or CBN is easy for this, we can help with regulation that protects the common man and works for everybody and does not stifle business for Nigerians.”
One of Nigeria’s foremost resource persons on cryptocurrency, Olaleye Awe, thrilled the participants and investors on advanced techniques in dealing with digital money, investments and Bitcoin.