BusinessDay

NES#28: Binance highlights blockchain’s impact on economic inclusion

Binance, the blockchain ecosystem behind cryptocurrency exchange has demonstrated the opportunities that can be tapped for social and economic inclusion using blockchain technology.

At the 28th Nigerian Economic Summit, the blockchain Binance hosted a dinner session themed ‘Emerging Technologies for Social and Economic Inclusion: Connecting People & Democratising Access” with policy makers, industry stakeholders, c-suite executives and private leaders in attendance.

Emmanuel Babalola, chief executive officer, Bundle Africa, stated that the Blockchain creates a framework for the internet to transfer value – enabling people the ability to do profound things with the technology.

He added: “I am a firm believer in the fact that blockchain has the most profound use cases in Africa. As part of the ability we now have to transfer value over the web, we are opening ourselves up to the largest wealth distribution in human history.”

Oswald Osaretin Guobadia, SSA on Digital Transformation to the President, Federal Republic of Nigeria said: “The ecosystem is made up of practitioners and policymakers, and it’s in that collaboration that the real value – which will help the ecosystem – develops”. This particularly echoes Binance’s commitment to collaboration with stakeholders across the industry and shaping policies that protect consumers, encourage innovation and move the industry forward.

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The rise of blockchain technology has led to the emergence of associated technologies and trends and Binance remains committed to meeting the highest standards of compliance and further building a sustainable path for the blockchain industry.

The 28th Nigerian Economic Summit was held at the Transcorp Hilton Abuja between November 14th and 15th where national and global leaders in government, business, politics, development, civil society, and academia convened to dialogue on the theme: “2023 and Beyond: Priorities for Shared Prosperity.”

As Nigeria proceeds into a transitional year, stakeholders were invited to discuss the country’s development imperatives for economic security, social justice, conscientious governance, political stability, and environmental sustainability with the prospect of gaining insights from the past and present to set the economic policy agenda for sustainable economic development.

The dinner session itself was an intimate banquet-style dinner setting with a myriad of established guests including Oswald Osaretin Guobadia, SSA on Digital Transformation to the President, Federal Republic of Nigeria; Kirk Wagar, global head of government relations, Binance; Emmanuel Babalola, CEO, Bundle Africa; Hakeem Onasanya, Special Adviser to the Chairman, Board of Trustees at Lagos StateEmployment Trust Fund; Tola Odeyemi, head of government relations for West Africa, Binance; Nkechi Oguchi, director of community, Talent City amongst others.

Speaking at the session, Kirk Wagar, Global Head of Government Relations at Binance, said “Blockchain is nothing more than the most secure, transparent contract and the world is built on contracts.”

He continued: “Blockchain will continue to facilitate inclusion and accessibility through products that provide value to users.”

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