Experts to discuss Bitcoin, other alternative currencies at NBA-SBL 2021

Experts and analysts have indicated that the session on “Alternative Currencies in The Digital Age” at this year’s annual business law conference of the Nigerian Bar Association Section on Business Law (NBA-SBL) must not be missed by legal practitioners, tech entrepreneurs, business executives and other stakeholders.

Before the Central Bank of Nigeria’s announcement prohibiting financial institutions from dealing with local cryptocurrency exchanges and ordering the shutdown of crypto traders’ accounts, cryptocurrency start-ups acted as local exchanges, helping to facilitate transactions among users. Nigeria has accounted for crypto transactions worth $566 million in five years. The rather abrupt shakeup by the CBN has plunged cryptocurrency start-ups, traders, and investors into a frenzied state of readjustment.

A selection of highly knowledgeable speakers will therefore be on hand to discuss best practices at the hybrid conference with regards to alternative currencies. They include Rotimi Ogunyemi, an ICT attorney and Chairman of the NBA-SBL ICT Committee; Ruth Iselema, co-founder of Bitmama; Victor Ndukauba, the DMD of Afrinvest; founder of Freeme Digital, Michael Ugwu; and CEO of EMTec, Carmelle Cadet. The session will be moderated by the founder and Managing Partner at Feleman, Akin Sawyer.

The session promises to be intriguing not just because a panel of very knowledgeable practitioners and industry players would be discussing another technological advancement, but because the discussion would be centred around the disruption of money itself; a disruption that will be challenging not just because it strikes at the very heart of global economic stability but it is happening at a time when world economies are undergoing enormous stress.

Yet, with the growing interest in crypto-currencies and central bank digital currencies amongst others, it is clear that the monetary landscape is changing.

At the end of the session, participants would have a clearer understanding of cryptocurrencies and crypto-assets, as well as blockchain technology. They would also be better able to distinguish the hype from the real-life use cases and understand all forms of decentralised finance, such as stable coins.

Participants would also understand the emergence of Central Bank Digital Currencies (CBDC) and all forms of Centralised Alternative Currencies, such as Govcoins. They would also come out with an understanding of the evolution of the alternative currencies ecosystem, the risk environment, and the regulatory challenges that lie ahead, as well as an understanding of the disruption of money together with the monetary policy and governance issues arising, such as domestic interoperability, cross-border interoperability, digital identity, cybersecurity, and illicit finance

The 15th annual business law conference is scheduled to hold on Wednesday, July 14th and Thursday, July 15th, 2021.

To secure a place at this conference, please visit the event’s website now as registration is still ongoing.