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We are not at Home with Cryptocurrency – CBN Governor



Taking further steps in openly stating its non-acceptance of cryptocurrency, the CBN Governor, Godwin Emefiele, who was represented by the Director Banking and Payment System Department, Dopo Fatoku, gave a rather interesting speech at the Vanguard Economic Forum Series on Financial Technology (FINTECH), Lagos.

In his speech,the CBN governor pointed out and I quote “Blockchain is a distributed Ledger Technology and we are at home with it and we know that it could be used for many good things especially in the financial services and industry.
But further in his speech, he then gave his reasons why the authorities were not in support of Cryptocurrency (one of the products acively used on the Blockchain). Among His reasons were that there is no issuing authority and according to him, this was a major challenge for Regulation. He backs his claim on notions that the supposed researches done by the English, Canadian and Monetary Authority of Singapore do not approve the use of Cryptocurrency for Central Banks.
Meanwhile the members and analysts from Blockchain Association of Nigeria (BAN), in a closed group conversation had a lot to say about this.
Mr Chimezie Chuta, coordinator Blockchain User Group Nigeria debunked the news above stating that this was not the official position of the CBN on cryptocurrency. He begged to question the authenticity of the publication.
Meanwhile, Mr Eze a member of BAN obviously opined that not having an issuing authority is the main idea of the crypto adding that it is a plus and that the idea of decentralization is what the Blockchain stands for. He takes solace in the fact that disruptive technologies never had Government endorsement not failing to add that the CBN Governor needed genuine education on the subject matter as all his statement reek with ignorance, biased information or pure mischief.
Also, Chimezie Chuta went ahead to point out that this could not be true as CBN recently did an internal restructuring that separates Banking from payments systems. Blockchain and its associated techs fall into the later. Even though the opinions from the former remains legit, it carries less weight. In his lengthy speech he said that official positions begin with an official definition, which the CBN are yet to give. Hence the need for clarification.

So in Chuta’s opinion, the remarks does not have CBN’s support. Another question is do the CBN really believe that the current players in the crypto space of Nigeria are small and insignificant?
The chief initiator of the conversation, Senator Ihenyen in trying to bring the house together, asked these questions;
Is CBN manipulating Nigerians About cryptocurrency through the use of media?
Is the media manipulating Nigerians about crypto by misquoting CBN or is it that some big interested persons are manipulating the media about cryptocurrency?
The answers to these questions vary from opinion to opinion but the summary remains that whether or not there is manipulation, the sole possible reasons for this could be because no one wants to be held directly responsible for the direct outcome which a clear statement will bring. Thus, ambiguity is the choice of all playing parties.

The questions still remains, if this were to be the case, when would the talks for regulation gain footings in the Nigeria economic market?

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I love working with Corporate Brands. Also I am a Social Media Manager, Blockchain Speaker and Writer, Strategy Lead at SMMA, Freelance Content Creator, Editor, Business Developer and finally CMO at cryptotvplus.

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Governments In Africa Will Welcome Blockchain Technology – Lucky Uwakwe



Lucky Uwakwe - African Government will welcome blockchain technology
Lucky Uwakwe shares his views on African governments and Blockchain adoption with Cryptotvplus.

It is no news that a lot of enthusiasts in the blockchain space only show commitment to the projects they handle or the ones which give them maximum returns. It is not everyday you get to meet an enthusiast in the space who is quite passionate about getting the government on board this moving train.

Interestingly, in a recent article published by CryptoTVPlus, some African governments are already piqued by blockchain.

However, Lucky Uwakwe is positive that all African governments will finally come to terms with the versatility of the blockchain in the nearest future.

Here is an overview of the conversation we had with Lucky Uwakwe:

In your own words, what would you say blockchain is?

Blockchain is a persistent record of ownership transfer, that is publicly available for examination by all aspects of people. It is permission less to use and no trust is required toward any third party when using it. It is immutable.

In a few words tell us about your journey into the fast emerging Technology. When, how and through what means did you hear about Blockchain and Cryptocurrency? 

I learnt about bitcoin and blockchain from research in the CYPHERPUNK community,  during an online research in 2008, but I never fully grasp the importance until about 2010/2011 with bitcoin and the Mt gox exchange (magic the gathering of exchange)  after that I use to read Vitalik Buterin(ethereum founder)  Articles on bitcoin blockchain back then, when he was a writer on bitcoin

In what areas of blockchain are you most passionate?   

Education and Consulting with Service of smooth user friendly digital exchange.

What is your product all about? What challenges or problems have you identified? How will your innovation use the blockchain to solve these problems? 

CURRENTLY as I speak, we see that some countries in the world especially in Africa buy digital asset at a premium, and pay higher fee which is higher than some region. Another problem Fiat based crypto exchange is different and crypto- crypto exchange is also different.

We have built a solution to cover all that, making it easier for people to trade and convert over 200 crypto to crypto , or crypto to fiat,  all in one place. also transfer in the exchange is free, from OTC fiat section  to the crypto exchange of our exchange, we even do free deposit fee, and our withdrawal fee is lesser than what is currently available in many exchange in the world.

We have exactly combine liquidity of Huobi which is one of the top three crypto to crypto exchange in the world, but we have added easy fiat for African and have open African customers to the rest of the world. With our partnership with Huobi cloud, security is paramount. we are called SaBi, we provide users across the globe to either use our Crypto to crypto or fiat to crypto,  we have open a continent to the rest of the world, so customers in other continents can trade with other continents including Africa. All in one place.

What milestones do you hope to accomplish in the coming years in the Blockchain Industry?

To see that government Across Africa welcome blockchain technology and digital currency, and to ensure we have a strong community of women and house wives who are professional traders on SaBi making a living to support there family and the continent at large. So that they can become independent.

Our goal is to see that we return 30-60% profit made from SaBi exchange back to our active users and the community to support poor African community, lacking basics facilities like Schools,clean water, hospital and food. This we will do through SaBi exchange with our partnership from Huobi cloud

How is your Project contributing to creating blockchain awareness and in turn Mass Adoption?

My company has been at the fore front of positive awareness with the government and community across Africa and beyond, a simple google search of my name Lucky Uwakwe  will show quite a lot,  but as a company we continue to create a cooperate awareness with institution making our authority responsible for enacting laws that will shape the future of Blockchain in our continent.

Tell us about your project team? How did you come about the team? How do you  inspire them to give their best? 

I actually don’t inspire my team, my team inspire me. They are the best brain out there, why tell the best what to do? Rather they inspire me and we work towards a common goal. Currently my team have been one of the best to work with in one project,  my project team members are from or based in China, Canada, Singerpore, Japan , Nigeria and Taiwan.

Most of them have over 3-10years+ background in Tech, Finance and Wall Street and Blockchain space. My Nigerian based team all have experience in the Blockchain space,  I am a certified cryptocurrency specialist (C.C.S) and still current  MSc in Digital currency and Blockchain Technology at the University of Nicosia Cyprus.

My Co-founder Mr. Peter Huang is a Chinese with experience Tech and Engineering company, from Beijing China, my Designer Kayode Iyanu owns SirfiTech in Nigeria capital city and the entire team of Huobicloud in Asia are working with us, from Mr. David Chen a Canadian, Mr. Jack Lee in  Shenzhen china , Mrs. Margaret Tang,  all from Huobi cloud, we have a rich diverse team across the world and many more working behind the scene working to see SaBi meet every standard before we Lunch by February 2019.

Mr Lucky Uwakwe is the Co Founder of Cheetah Africa.

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JPM Coin to be the First US Backed Cryptocurrency by JPMorgan Chase



JPMorgan launches new cryptocurrency - calls it JPM Coin

JPM Coin becomes the first cryptocurrency to be backed by the United States government. 

JPM Coin – US Government First Backed Cryptocurrency

JPMorgan Chase, one of the biggest banking institutions in the United States is developing the first cryptocurrency to be ever backed by the US government. A digital token which is called, “JPM Coin” was created by software engineers in the New York-based bank, which, as reported by CNBC, JPMorgan will use to increase settlement efficiency within its operations.

JPMorgan CEO Jamie Dimon Called Bitcoin A Fraud

JPMorgan’s CEO Jamie Dimon once called Bitcoin a fraud in September 2018 saying he has no interest in it, a statement he later personally regretted in an interview on Fox Business. According to him, “The blockchain is real. You can have cryptodollars in yen and stuff like that. ICOs.. you got to look at everyone individually. The bitcoin was always to me what the governments are going to feel about bitcoin when it gets really big”.

JPM Coin for Real-Time Settlement

According to Umar Farooq, for the time being, JPM coin’s initial concentration would be on international settlements by big corporations, thereby helping these institutions bolster up transactions that take a longer period of time by using options such as Swift.





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How “Use-Case” Inspired Bitfxt Project Success

Initiate the project and deliberately see to its growth!
Welcome to the CEOs corner.

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Building a regulated platform in blockchain generally, would not classify as a walk in the park. It is even more demanding to take up such challenge in this part of the world where technology is obviously still far below average. To make matters worse, the competition globally- with the likes of Binance introducing their DEX, Huobi Exchange, Bittrex, Poloniex and a whole lot of VC-funded projects that make the playing ground very much uneven for local exchanges sprouting from the black continent of Africa.

#BUIDL CLUB provides an exclusive with Franklin Odoemena the CEO BITFXT, an IT firm that developed one of Africa’s leading cryptocurrency exchange platform. BITFXT portrays transparency, trust and user satisfaction.


In this interview,

Frank tells us about how “Use Case” helped him build BITFXT revealing secrets for pursuing a successful carrier within the most populated service area in the ecosystem.


In your own words, what would you say blockchain is?

Blockchain is simply an open, public, decentralized ledger for recording any kind of data and and transactions on the internet such that the records are irreversible and unchangeable.

Your Journey into the fast emerging Technology. When, how and through what means did you hear about Blockchain and Cryptocurrency?

I got interested in the technology when I first heard about bitcoin from a senior colleague in the year 2015. My first perception of it is that it is the future of money and that it has the capacity to become a global currency. I got much more interested in it when I performed my first transaction and discovered how fast and cheap it is… though my inability to purchase from coinbase and and the high exchange rate surcharge I got from a couple of other local exchanges available then made decide to provide a simpler and better solution for Africa, that was the birth of bitfxt.

In what areas of blockchain are you most passionate?

Exchange. I am passionate about providing a simpler solution for storing, buying and selling of cryptocurrencies in a seamless manner. I believe that such solution will hasten the adoption of the technology in developing countries. I have a goal of democratizing Africa financially.

 What is Bitfxt?

Bitfxt is an IT firm that deals on deployment and development of software, mobile apps and websites including crypto exchanges, wallets, payment gateways, e-commerce, RFID tracking system, etc on the blockchain. We also aim a pioneering the movement of tokenizing businesses, assets and currencies in Africa.

 What challenges or problems have you identified?

In as much as the hype is all over the place but in my own observations, not everyone truly understands the technology. 99% are in for the money and this is the reason why it will take a lot of people unaware.

When I got involved in the tech, I couldn’t find single developer in Nigeria, I couldn’t find a single trader both on the internet and offline, it was super frustrating. I had to outsource my project to a foreign country of which if we had developers, the money we spent would have gotten to the hands of a fellow Nigerian, thereby, improving on the economy.

 How will your innovation use the blockchain to solve these problems?

Though we started as an exchange where you can list, save, buy and sell cryptocurrencies but we have grown beyond that to solve other problems. Right now, Bitfxt Technology is more of a decentralized IT firm where you can find professional blockchain developers to take on any project you can imagine. So far, we have developed other solutions such as bitfxt cointracker, bitfxt exchange wallet, bxtcoin, bitfxt vault, and much more coming soon

 What milestones do you hope to accomplish in the coming years in the Blockchain Industry?

We want to be known as the largest blockchain IT firm in Africa at large. Lots of people have solutions locked up in their mind but because they dont have the funds and a professional to take on it, they die with the solutions and this is the reason why our coin BXTCOIN, is the official currency of the bitfxt ecosystem. Holders can pay at high discounts using our coin. We also hope to help tokenize Africa and stand as the largest exchange for trading African inspired tokens and coins.

How is your Project contributing to creating blockchain awareness and in turn Mass Adoption?

Our solutions are simple to understand and easy to use, and as such, anybody can easily use them. Our exchange is built with the African market in mind, users can easily connect their wallets to their local bank account in order to buy and sell cryptos and we hope to list more of African inspired projects and list them against other African currencies, I believe this will bring about mass user adoption.

Tell us about your project team?

My project team are made up of people from all works of life who has decided to make a difference in the industry. They are professionals to the core and are highly passionate about the project.

How did you come about the team?

I would say it was by the grace of God. I hand fully picked them one after the other not minding their academic background. I resonate more with passion because passion can drive a man to dare god, so I believe that getting the right people with the right attitude, willingness to learn and commensurate passion mattered more and that is what I go for.

How do you inspire them to give their best?

I try to be a true example of what I expect of them and so, they always pick a cue from my actions, resilience and passion towards the project. I also organize staff meeting once in a while where I ensure share knowledge and inspiration with them. In bitfxt tech limited, we are more of a family and it has helped us bond better.

Despite the obvious hurdles associated with building a start-up, exchanges seem to emerge on a consistent basis. Undoubtedly, most of them do not stand for progress in the ecosystem but those which truly are built with integrity are sure to survive the test of time. One would think this area was already saturated but wait till you hear the name of the next crypto exchange platform in town!

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Best 5 Altcoin Exchanges of 2019



Top 5, best altcoin exchanges

Despite the fact that the crypto market has been fluctuating for months, some Altcoins seem to be gaining bullish action and showing remarkable buy signals. There are over 1500 cryptocurrencies, however, to own or trade altcoins you need to utilise exchanges that support them. You should know that not all exchanges support all coins and tokens. We will be looking at the top 5 platforms to trade altcoins in 2019.


Hong Kong-based crypto exchange, Binance holds the number one spot in trading volume. Launched in mid-2017, the exchange quickly rose to the top. With servers located in Korea and Japan, Binance can be literally be accessed from any part of the world, with exception of China which restricts its IP addresses. The altcoin trading platform offers over 80 altcoins from which you can trade. Its owns its own cryptocurrency token – BNB and its trading fee is  0.1% but it can go as low as 0.05% if paid with BNB tokens. Binance has an enviable USDT pair of EOS, ETH, XRP, and BCH. However, Binance does not support fiat currencies, it utilises a wide range options of altcoins from which you can trade.


Established in 2013, OKEX trades from 199 coins and 653 trading pairs. The exchange has shown an impressive volume for BCH, ETH, XRP, ETC, EOS and TRON. However, the active trading pair on OKEx exchange is BTC/USDT.  The platform also offers access to some obscure altcoins like Mithril, Origin Sport, and HYCON.


Huobi is currently the world’s fouth largest cryptocurrency exchange by trading volume. Established in 2013, Huobi offers 183 coins and 416 trading pairs with the BTC/USDT pair as it’s most active trading pair. It’s trading fee is also comparatively low at 0.2%.  Some of the top coins on the platform includes BTC, ETH, HT, LTC, BCH, XRP, DASH, EOS and TRX. Huobi Group also runs a platform the Huobi Autonomous Digital Asset eXchange (HADAX), that allows its customers utilise its token, Huobi Token (HT) to vote for tokens listed on the exchange.


Bitfinex is both a fiat-to-crypto exchange as well as a crypto-to-crypto exchange. The exchange accepts fiat currencies such as USD, Euro, Yen and Pound Sterling. Bitfinex currently supports 114 cryptocurrencies including top coins such as Bitcoin, Ethereum, Monero and Litecoin. The exchange also supports other as small-cap cryptocurrencies such as Nucleus Vision, Metaverse ETP and Kyber Network.


Based in Hong Kong, Kucoin has a record of being ahead other major exchanges in acquiring coins. With 177 coins and 394 trading pairs, Kucoin attracts no fee to make a deposit while trading fees are only 0.1 percent or based on the asset that you purchase. The most active trading pair on the platform is ETH/BTC. Kucoin does not accept fiat payments and coins for making payments includes, BTC, ETH,USDT, NEO, KC etc.

What altcoin exchange do you utilise? Share your opinion with us in the comment section below.

Image credit: Pixabay

The Information provided on the website is designed to provide helpful information regarding cryptocurrency subjects. The content is not meant to be used, nor should it be used as a basis, foundational knowledge or prerequisite for decision making regards trading. Always do your own research and due diligence before placing a trade. We are not liable for any outcome based on any content found on the site.

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