Connect with us



Speaking to Bobby Anyadike on the Inside Blockchain Show this morning about the Implications of remittances on cross-border transactions across Africa, NaijaCrypto CEO, Chiagozie Iwu had this to say;

 “Small businesses build the economy, so building a solution for large corporations while leaving small businesses out doesn’t create economic output because those small businesses that are supposed to create jobs are left out from benefiting from the cross-border payment framework.”

He also went further to explain that majority business owners in Africa prefer to trade with foreign countries and depend on them for trade income. Whereas, Intra-African trade can sustain us as a continent according to him. The only fallout of the system he highlighted was the requirements which might not really foster inclusion of smaller businesses;

Read also:

INTERSWITCH & INTERSTELLAR to Develop Blockchain-powered Infrastructure Services & Solutions

Cameroon Ejara raises $2M to Offer Crypto services to Francophone African Countries

Bitmama raises $350K Pre-Seed to Expand across Africa

Pan-African Payment and Settlement System (PAPSS)

The newly launched Pan-African Payment and Settlement System (PAPSS) popped up during the discussion and the impact of the infrastructure was discussed. Chiagozie commented on the development noting that it was a good development as it will foster Intra-African trade. He also mentioned that there’s still need to build more blockchain-based remittance systems that are decentralized to facilitate inclusion of small businesses. 

Watch our latest session on the Inside Blockchain Show: 

What do you think of this video? Share your comments below.

1 Comment
0 0 votes
Article Rating

What's Your Opinion? Please Leave a Comment

1 Comment
Newest Most Voted
Inline Feedbacks
View all comments

[…] post Inside Blockchain – Blockchain Technology & Remittances: The Implications on cross-border tran… appeared first on CryptoTvplus: DeFi, NFT, Bitcoin, Ethereum Altcoin, Cryptocurrency & […]

Latest Episode on Inside Blockchain

Crypto News Update

Crypto Street



ALL Sections

Recent Posts

Would love your thoughts, please comment.x
%d bloggers like this: