Welcome To The Sankova Pan Africanserieswhat Are Bitcoinscryptocurrencies And Blockchainshow Can Africans On The Continent And Inthe Diaspora Learn Moreinvest In And Benefitfrom Themour Guest Today Is Someone Who Is Highlyknowledgeable And Experienced And Hewill Help Us To Answer Some Of Thesequestionsplease Take A Moment To Click On Yoursubscription And Notification Buttonsbefore We Meet Himthank Youjohn Okorodirector And Ceo Auspiciousagile And Blockchain Is A Blockchainenthusiast Andinvestor He Studied For His Bsc Incomputer Science At The University Ofcalifornia Irvingand His Masters In Businessadministration At Uclahe Also Has A Juris Doctorate Fromsouthwestern Law Schooljohn Okoro Is The Founderafrican Diaspora Focusedsingapore Global Blockchain Meetupshe Has Over 13 Years Of Experience Usingagile And Related Methodshe Has Worked With A Fortune 500 Global1000 Startups And Government Clientsincluding Toyotamusgicand The Ica In Singaporehe Is A Serial Technology Entrepreneurfor Global Companies And Startups Withrobust Networks Throughout The U. Sasiaafrican Nationsandthe African Diasporawelcomejohn Okorowhat Is It About The Work You’re Doingthat Excites You Inin A Way That Our Viewers Would Alsofind Exciting When You Explain Whatyou’re Doing In Other Words Tell Us Abit More About Your Business I Guess Mybusiness And Kind Of My My Calling Or Myworker Together Right So Ii Do A Lot In Terms Of Uh I’ve Been Intechnology Forprobably Over Two Decades I’m Not Gonnadate Myself But Over Two Decadesand I Also Have Done A Lot In Thefinancialuh Space Uh You Know A Lot Of Financialservices Type Things With Banks Andbanking And All These Thingsandthe Business That I’ve Started Now Basedin Singapore Is Actually Basically Afintech Startup Which Is It Combines Thefinance The Technologyand Basically For Africa As Many Of Yourviewers Probably Knowwe Really Are Not Included In Thefinancial System I Mean That’s Thebottom Line Right So If You’re Anafrican An Afro-dependent Personyou Want To Start A Business You Want Toget A Loan You Want Funding On Venturecapitalit’s Almost Not Available To You Rightthere’s A Statistic That There’s A Lotof African Startups A Lot Of Venturecapital Going To Africa But Only One Tothree Percent I Believe Goes To Black Orafricanfounders Or African Diaspora Founders Soall The Rest Of That Moneyis Not Going To Usand So I’d Like Tocorrect Or Fix That Situationactually I’ve Interviewed A Few Guestsover The Last I Think Yesterday Or Sosome Of Them Were Actuallysaying That The Current Banking Systemfinancial System Was Designedyou Know Specifically Uh To Keepcontinents Like Africa Down So I Totallyget Where You’re Coming Fromum So Why Singaporewell Before I Came With My Wife My Wifeis You Might Have Seen The Otherinterviews I’ve Done So My Wife Is Uhafrican-american Foundationalafrican-americanum And She’s A Teacher Educator And Shecameto Do A Fulbright Which Is A Honors Kindof Fellowship Program The U. S Statedepartment So We Brought Our Our Sonsand We Came Out Here It’s Our Eighthyearuh We Really Loved It We Enjoyed Itright It’s Very Peaceful Which Alignswith Me I Like Peaceful Places Rightum And You Know A Lot Of I Guess A Lotof The The Tensions And Stresses That Wedeal With Day To Day Back In In The Uswe Don’t Really Deal With Them Hereso You Know It Just Was A Nice Place Andthen Of Course Career-wise There Are Alot Of Opportunitiesum I Think You Know A Lot More Than Youprobably Have Back In The U. S Andcertainly As An African Afro-descendedperson Even More Opportunities I Thinkand Then In Addition To That Singapore’sa Financial Center They Got One Of Theasian Tigersright So It’s One Of The Financialcenters Of The World So As It Turns Outi Believepersonally So As God’s Providence Wouldhave It He Kind Of Put Me Right In Themiddle Of One Of The Financial Centersof The Entire Globe Which Is Really Theright Place To Start This Kind Ofbusinesssothough So The Reason Why I’m So Excitedto Talk To You Because I I Saw Aninterview You Did When You Actuallybroke Downumwords Like Bitcoins Cryptocurrencyblockchains In A Way That For Me When Itcomes To Things Like I’m A Totaltotally Ignorant But You Were Able Toexplain It In A Way That I’mpretty Sure Uh Viewers Out There Willfind Beneficial So Tell Us What Arebitcoins Crypto Currencies Andblockchainsso I Think Bitcoin The Easiest Way Todescribe It And It Seems Like Mostpeople Understand Its Waythink Of It As Digital Gold Right Mostof Our Financial System Forthousands Of Years Basically Gold Hasbeen Like The Funded Fundamental Thingright You Have Goldeverybody Kind Of Accepts The Gold Okaythis Is This Is Valuable Right Now We’removing Into A Digital Time Right Whereeverything’s Online You And Me Aremeeting Online We’re Doing All Kinds Ofthings With Facebook Or Whatever It Ishopefully Not All On Facebook Differentplaces Online Okay And Now We Need A Newwayto Be Able To Move Value I’m Not Goingto Sit Here And Say Hey Let Me Send Yousome Gold Here Here’s Some I’m Not Goingto Do That Right And Even Banktransactions Especially For Those Of Usfrom Africa Or Diaspora You Know It’snot Easy And Fast To Get Money Movingacross Events Either Right It Can Bevery Challenging It Takes A Lot Of Timeif You Get Things To Move It Can Beweeks A Lot Of Approvals A Lot Ofpaperworkbitcoin Which Is Like A Digital Gold Ican Send It To Youin The Next Five Minutesright Nowokay And Then There Are Many Other Coinsthat We Call Altcoins So It’s Not Theonly One So Think If Bitcoins Digitalgold We Have Silver Which Would Beethereum Probably Okay Which Is Anothercoin Right So That One Is Like That Hasdifferent Transactions And Things Theycan Do And I Can Send That To You Thatone’s Currently Worth About Threethousand Dollars Bitcoins For Around 56000 I Think Currentlyum Each And Then There’s Thousands Ofdifferent Coins That Have Different Whatwe Call Use Case Of Different Uses Butbitcoin Is Digital Gold And Then I Wouldthink Of Ethereum As Probably The Silverright And These The Transaction I Canmove Things To You So Fastand So Easythat It’s Just Very Powerful Yeah Quicklayman Questionsoyou Need To Send Me Some Moneyand Then You Electronically Send Mebitcoinsum How Do I Turn That Into Cash To Beable To Go And Do My Grocery Shoppingfor Instanceyeah So Number One I Would Probably Saydon’t Use Your Bitcoin For Groceriesum That’s Number One I Would Probablyuse Something Some Other Coin Forgroceries I Wouldn’t Use Your Bitcoin Iwant To Show You Why I Want To See If Ican Show This To You This Might Be Alittle Tricky While I’m Talking But Umyou Can Use But You Could Use It Becausea Lot Of Places Are Accepting Bitcoinnow Like Mastercard And Visa And Paypalthey’re All Using Bitcoin I Think Squareum Cash App All Of These Are All Usingbitcoin For Transactions So There Arecredit Cards That Are Using Bitcoinbehind It Debit Cards Are Using Bitcoinlots Of Vendorseverybody Wants More Bitcoin All Thecompanies So Reallyyou Have A Couple Choices One You Coulduse It Right Or Like I Said I’d Probablykeep Your Bitcoins It’s Like Gold Youdon’t Go Spend Your Gold Right Umso You Might Spend Some Other Coin Likea Dogecoin Or An Ethereum Or Somethingbecause There Are Many Different Coinsi Want To See If I Can Show You Thereason For This Give Me One Second Withme I Want To Just See If I Can Show Youthis Diagram Because It’s Very Keyto Understanding Why You Don’t Want Tospend That Bitcoinlet’s See If I Can Find Thisall Right Give Me A Second Um At Anyrate Yes And What’s Happening Istransactions The Financial System Ischanging So Quicklythat I Think What You’re Going To Seevery Soon Is Thatanybodyyou Won’t Even Have To Go Back Todollars Anymore You Can Just Keep It Inbitcoin Or Cryptocurrency And You Canspend That Instead Of Having To Go Backand Get Dollars Or Whatever You Need Nono I Still Don’t Understand So You Sendme The Bitcoin Yesnothing A Good Idea For Me To Spend Iton Um Things Like Grocery So I’mguessing That It Would Probably Bebetter For Me Toto Save Itso That The Value Increases Is That Itabsolutelyyes But When I Do Need It For Say Maybea Capitalhow Do I Turn It Into Cash Can I Onlyspend It Online As Wellthere Are Many Gateways Right So Inamerica There’s Coinbase They Just Wantpublic Neighborhood Of Coinbaseno And Base Is A Company They Just Wantpublic On The Stock Market I Thinknasdaq Okay So There You Can Think Ofthem Like A Bank For Bitcoins You Canconnect It To Your Regular Bank Accountand They’ll Send The Bitcoin Through Toyour Regular Bank Account Right Andthey’ll Turn That Into Dollars Or Intocanadian Dollars Or Whatever It Is Youuse Right In Your Country Whatevercountry You Might Be In So There Are Alot Of Ways Like That Finance Is Anotherone So There Are A Lot Of Exchangeswhere You Can Exchange From Bitcoin Orcryptocurrency Into What We Call Fiatwhich Would Be Dollars Or You Knowpounds Or Euros Or Whatever It Is Ohokay Okay So You Just Saidsomething That So So Bitcoins Aredifferent From Cryptocurrencieshowbitcoin Is A Cryptocurrency But Bitcoinis Like The Original One Right Bitcoinis Like The Daddy Of Allcryptocurrencies Right So Every Othercryptocurrency We Have Thousands Of Themwe Call Them Altcoins Because They’realternatives To Bitcoinalternatives Right So We Call These Allcoins Because They’re Like Analternative To Bitcoin If That Makessense Rightso What Happens Is That Okay Here’s Apicture I Want To Show You Let Me See Ifi Can Share My Screen Withoutembarrassing Myself Completelycan You See That Pictureyesokay This Is Why You Don’t Want To Spendyour Bitcoin With Me Okay You Can Seethe Dollar There But It Used To Be In1929but We Could Have Bought Anything But Ifyou Had Dollars In 1929 You Could Havebought A Basket Full Of Groceries In1960 You Could Buy Some Groceries Andnow You Can Buy Like Five Or Six Itemsokay For Twenty Dollars In America Okayon The Other Hand Bitcoin In 2012right You Can Buy A Few Things It Usedto Be Worth Like10 Or Something Okayin 2013 It Went Up Likea Thousand Or 500 000. You Could Buymore Now A Bit Well 2014 I Think It Waslike I Don’t Know 2 000 3 000 I’m Notsure What It Was Todayit’s Worth Nearly Sixty Thousand Dollarsokay So And In The Future We Expect Itto Go Up Toprobably Six Digits Uh You Know Over Ahundred Thousand Dollars This Year Verylikelynot A Price Prediction But Very Likelyand Probably In The Neck By The Mid2020s It Could Be Worth Over A Milliondollarswow Okay So That’s Why I’m Telling Youyou’d Be Very Sad So Somebody Back In2010 They Bought A Pizza For 10 000bitcointhat Was Before Bitcoin Was Really Worthanything That 10 000 Bitcoins A Dayis Worth About Six Million Dollars If Ikind Of Quote Correctly My Headso That’s A Very Expensive Pizza So Youdon’t Want To Go And Say You Know What Ispent Six Million Dollars On The Basketof Groceriesokay Okay Soif An Investment In Bitcoin Should Beseen As A Kind Of Legacy Investmentyes Um Investment For The Futurethe Kind Of Investment That You Want Tomaybe Leave For Your Childrenyesoh Okay All Right So This Isgenerational Wealth Right This Iscreating Generational Wealth Yeah You’vegot What You Don’t Want To Do Is Go Andspend It There’s A Reason That All Thesecorporations And Everybody Want Yourbitcoin Is Because They Know There’s Alimited Amount And It’s Going To Be Veryvaluable So They Want The Bitcoinbecause They Knowthis Is Going To Be Worth A Lot Of Moneyand Then Whatis To Stop Saying The U. S In Future Imean Or China Or Any Of These Um Highlydevelopedsuperpowerstotry And Curbyou Know The Way In Which The Bitcoinappreciates Because Apparentlyit’sit’s Not In A Way Competing With Say Theus Dollarsfrom The Illustration You Just Gave Itlooks Like The The Rate Out With Thecryptocurrencies Are Appreciating Is Away More Than The U. S Can Ever Hope Toto Doso Yes And No Rightthe U. S Already Knows That The Dollar Isdevaluing Okay It’s Devaluing Notbecause Of Bitcoin It’s The Valuebecause They Keep Printing Moneythey’re Printing A Lot A Lot Of Moneyespecially Now That We’ve Dealt We’redealing With Covid Right There’sprinting Even More Money So The Moremoney They Print The Less It’s Worth Nowgive You An Example If We Live By Thebeach And Weif We Live Somewhere And We Use Seashells For Money They Used To Use Seashells For Money Rightif We Use Sea Shells For Money Andthere’s Not A Lot Of Them Around Well Mysea Shells Are Pretty Valuable You’relike Hey This Will Be 10 Seashells Andyou’re Happy When I Pay You 10 Seashellsbut Me If We Live Next To The Beachand There’s A Million Million Millionmillions Of Seashells Everywhere I Goi’m Going To Give You 10 Seashells Howmuch Are My Seashells Worththat’s What The U. S Is Doing With Thedollar Okay They’re Printing So Manythat It’s Only A Matter Some Peopleestimate It’s Devaluing About 15 To 20percent Every Yearso It’s Actually Yeahforthe Bitcoins To Keep Appreciatingyeah Because Risk Is Happening It’s Notnecessarily So Much That Bitcoin Isgoing Up It’s That The Dollar Is Goingdown So It Takes You More Dollars To Beable To Buy A Bitcoin Because Yourdollars Are Less Valuedokay Soi I Know That Not Every African Countryum Or Caribbean Country Are Currentlyum Allowing Trading In Bitcoins Whichcountries In Which Countries Arecryptocurrencies Legalmost African Countries I Think Thecaribbean May Be A Little Bit Ahead Ofthis Honestly My Mom I Think As You Mayknow Is From Trinidad Tobagoumbut Umthe Caribbean I Would Say May Be Alittle Bit Ahead Of This Because Theyhave A Lot Of Wealthy People Who Go Tothe Caribbean Because Tax Advantages Andthey Allow As Far As I Know I Haven’theard Of Any That Don’t Allow Bitcoin Ithink They Seem To Allow It Prettyeasily Um African Countries Nigeriathat’s Fromthey Had Banded Although They Backed Offon That Now So They’re Not Banning Itanymore Which Is Good Because It Wasn’treally A Good Idea To Ban In The Firstplaceumthe Continent Can Invest In Umin Cryptocurrencieslet’s Put It This Wayumanybody Can Really Access It Nowthe Question Is You Know What Will Yourgovernment Say So Even When Nigeria Hadbanned It It Was Still The Secondlargestcryptocurrency Bitcoin Market In Theworldreallyyes So The Ban Really Didn’t Meananythingokay Because I’m Not The Control Of Anyonecentral Bank Of Any Country Is That Isthat The Reason Whyyeah It’s Not It’s Basically The Moneyof The Internet Right So It’s Andreasantonopoulos I Like His Books On Thistopic Right He Has Really Good Books Theinternet Of Money He Says Unstoppablemoneyright It Means I Can Spend It Anywhere Ican Send It To Anyone And I Don’t Haveto Ask Anyone’s Permissionright That’s Why Governments Are Scaredof It But That’s Also Why It’s Sopowerfulokay So That’s Why It’s So Good Forafrica Yeah Yeah Quite So Goodbut It Can It Can Be Good And Badbecause In A Lot Of African Countriesnow Where We’re Dealing With A Terrorismum Terrorists They’re Being Funded Fromoutside And Things Like That Doesn’tmake It Easier For Them To Get Moneyinto Countries Where They Need Toto Cause Havocumi’m Going To Give You I’m Going To Tryto Give You A Politically Correct Answerfor Me Okay Umokay So The Politically Correct Answeri’m Not Going To Be Able To Be Verycorrect Uma Lot Of Theseterrorists Are Frankly Funded By Othercountries That Have Interest In Africarightand They’re Not Using Bitcointhey’re Probably Using The Bankingsystemwhy Are They Not Using Bitcoins Ifwhy Would They Need To Right I Meanthink About It Okay So I Don’t Have Everheard Of The Book Theum Memoirs Of A Economic Hitman Okay Itwas By This Guy Who Used To Work For Theimf Of The World Bankand He Wrote About Basically How Theywould Go And Give Loans To Africancountries Developing Countries And Whenthe You Know You Have A Deal You Can’trefuse Right And Then When You Know Thecountry Couldn’t Make Good On The Loanthey Would Take Their Infrastructurethey Would Take Reports They Wouldprivatize Everything And Take All Theireconomies Right And Obviously If Therewas Some President’s Like I’m A Good Guyor I’m A Good Lady I’m Not Going To I’mnot Going To Go Along With This Suddenlythey Disappeared And They Got Replacedby Another President Okay So They Didn’tneed Any Bitcoin For Thatthey Didn’t Need Bitcoinand If You Want A Statistic On This Letme Give You A Statisticbecause Everybody Always Gets That Linebitcoin For Prime Bitcoin Crime You Hearthat All The Time Right Which Is Reallyjust Not Accurate Because I Would Sayfrom What I’ve Heard Is Statisticallyless Than One Percent Of Bitcointransactions Arecriminal Transactionsrighti Would Say A Lot More U. S Dollartransactions Or Criminal Transactionsokay So It’s Saferso We Didn’t Talk About A Blockchainsyet Sowhat Are Blockchains And How Are Theydifferent Fromcryptocurrencies Now That We Know That Abitcoin Is Just An Example Of Acryptocurrenciesyeah So There Was An Example That Wasused I Forgot Where That Was Used Iliked It Um Which Is Basically That Youcan Think Of Blockchain As A Tree Rightso Everything Kind Of Flows And Growsfrom The Tree And The Fruits In The Treeis The Bitcoin That’s What You Can Likeyou Can Use Uh Get The Fruits Rightwhich Is The Bitcoin Blockchain Isreally The Underlying Network Thatallows All This To Happenand Then The The Fruit Or The Coins Thebitcoins You Can Send Them Across Thatnetwork Anywhere You Want So Theblockchainis The Tree Or The Network Thateverything Goes Through But Then Thebitcoins Are Like Thefruit Of That Tree Right So You’re Ableto Send Bitcoin Because You Have Thisblockchain Networkokay And Your Company You’re Intoblockchainsyouyes So We Do Several Things We Doeducation Which We’re Actually Uh Doingwe Do Some Classes Like That We Alsohave A Platform A Fintech Platform Toallow For Crowdfunding So If You’veheard Of Kickstarter Or Indiegogo Orgofundme Um We’re Basically Doing Thatfor Africa Right But One Of The Waysthat We’re Able To Do That Is Usingblockchain So Basically We Were Able Tosay Hey You Know There’s A Hundred Of Usin Canada In The Us And Ukuh And We Want To Fund This Africanproject We Want To Find This Agrobusiness In Ghana In Tanzania This Mineor Whatever We Want To Help This Localafrican You Know Who Wants To Start Thisbusiness Or This Project We Cancrowdfund But Often People Will Notactually Have A Bank Account Or Not Haveaccess To A Full Financial System Toreceive Funds So That We Can Actuallysend Them The Funds Using Bitcoin Andother Cryptocurrency Obviously Inaccordance With Their Local Regulationsif There Aren’t Any Um But We Can Dothat And So Our Platform Our Auspiciousagile Blockchainour Scan Pay Platform Is For Sendingcrowdfunding For Africa From Thedashboard From Friends Of Africaand What’s Your Platform Calledit’s Called So Our Company Is Auspiciousagile And Blockchain And The Platform Iscalled Scanpayand People Can Always Reach Out To Youwith Theirfurther Questions Or Training Requestsyes I Can Provide My Contact Informationand They Can Also Go To Auspiciousblockchainhospitalblockchain. Comwhich Is Our Website And We Also Sponsorthe And Fund Or Support The Umwakanda Blockchain Meetups So We Havethe Wakanda Blockchain Andcryptocurrency Meetup That’s More Foreducationso Anybody Who’s Interested In Thediaspora And Learning About This Um Theycan Go To Meetup. Com And Go Look Forwakanda Cryptocurrency And Blockchain Soyou Know Wakanda For The Black Panthermovie Rightor Um They Can Also Go Towe Have A Telegram Group And I Can Giveyou A Link For That So We Havediscussion And Chat All The Timeum You Know About Different Thingshappening Diaspora About You Knowlearning About Cryptocurrency Learningabout Bitcoin Learning About Blockchainuh In The Latest News And Discussionokay Soi’ve Also Heard I Mean There’s A Lot Ofbuzz Aboutoh How Cryptocurrency Can Transformafrica And The Caribbean Economies Andthings Like Thatbut I Still Don’t See It Can Youshare Some Of The Ways You Think It Canimpact Positively Impactingthe Economies Of African Countries Andthenand Caribbean Countriesso We’re A Very Early Stage Right Nowright I Mean It’s Early Days Like Yousaid You’re Just Starting To Understandit I Think A Lot Of People Are Juststarting To Understand It So It’s Veryearlywe’re Not Like At The Advanced Stage I’ma Technology Guy So You Know I Kind Ofgot This Earlier Because I’m Atechnology Guy Right So I’m Like Okaythis Makes Sense To Me But That’sbecause I Spent My Entire Career In Facti Was I Was Coding And Programming Sincei Was Six Years Old Okay So I Mean Forme This Just Makes Perfect Sense But Ifyou Don’t Have That Background It’sgonna Take Most People Getting Itjust Starting To Get Right Sohere’s The Uh Here’s The Example I Wouldbe In China Right When I Was Growing Upi Grew Up In The Us Right Grew Up Infloridaandum China You Know Really Wasn’t The Bigpower They Are Now Right Back Then Itwas Like All Made In China Oh That’s Notvery Good Quality You Know Et Cetera Etcetera There You Know That Was So Chinadidn’t Have A Very Strong Reputation Butthen Here’s What They Didis They Started To Get All Theirdiaspora They Said Hey Come Back Bringyour Skills From The West They Alsostarted Manufacturing And Buildingeverything And They’re Wireless Whichwas Very Interesting They Didn’t Haveall The Telecommunications All The Wiredtelecommunication And Instead They Justwent Straight To Wireless So Now Theygot Really Good At Technology They Havereally Great Wireless Technology Andobviously They Are Now Rivaling Americain Terms Of Their Their Capabilitiesrightum Some Even Say They Might Have Startedsurpasses I Don’t Know But Anywaythey’re They Are Rivaling America Okaybreakers Would Like To Hear That Soyeahi Don’t Knowi’m Just That’s What I’ve Heard So Atany Rate Um The Way They Did That Wasbasically By Leapfrog They Didn’t Go Andstart Doing All The Wired Technologythey Went Straight To Wireless They Wentstraight To The Next Generationtechnology Now For Africa And Thecaribbean And You Knowafrican Diasporawe Really Don’t Have The Banking Systemlike You Said Right We Don’twe Just Don’t Talk If People Were Likeoh Let’s Go Get The Banking System Wellthat Technology Is On Its Way Outokay So Instead What We Should Do Is Godirectly To Blockchain And Bitcoinand Start Using It In All Of Ourfinancial Transactions And All Of Ourcompanies All Of Our You Know Movingmoney To People Back And Forthby Doing That We Leapfrog Just Likechina Doing So Instead Of Going Andtrying To Set Up All These Banks And Ohhow Do We Get Connected To The Swiftnetwork Or We Just Go Right Toblockchain And Bitcoin And We Do Thatinstead And So We Do The Same Thing Tochina And Then Africa And That Could Askfor Could Frankly Bea Global Power Honestly Ohokay And This Is Not Just Um Forcountriesyou Know And Institutionsbut Individuals Like Like You And I Andpeople On The Continent People In Thecaribbean Can Alsostart Doing This Howi Mean Say Someone Who’s Watched Thisnowyou Know And Say Okay I Want To Explorethis Father I Really Want To Get Intoyou Know This Bitcoin And Cryptocurrencything How Do What’s The First Stepokay So The First Step I I Would Suggestthey Join Probably What Kind Of Meetupsand Maybe Watch Some Of The Videos Withthe Introduction Videos That We Have Sothey Can Learn About It We Have Somegood Introduction Videos That Are Postedi Have Some Posts On My Youtube Channelas Well We Can Link To That Um Because Alot Of People Just Don’t Know Where Tostart But One Of The Things You Want Todo Once You Do I’m Going To Share Myscreen Again Like I Told You There’s Alot Of Different Cryptocurrencieslet’s See Can You See Thatokay So This Is Bitcoin Which Is Quiteexpensive Although You Could Still Buy Alittle Bit I Saw It Suggest Buying Alittle Bit Because You Don’t Have Thatbitcoin Cost Almost Sixty Thousanddollars That’s What I Was Telling Youyeah Wowbut There Are Coins That Are Muchcheaper Right So You Could Buy Dogecoinwhich Is Becoming Very Popular For 38cents Okay You Buy Cardano For A Dollar34. Okay So There Are Coins Which Are Muchcheaperthese Are Top Ten Coins You Can See Okayso I Would Suggest Somebody Once Theyhave Watched The Webinar And Learnedbasically Go Open An Account Coinbase Orfinance One Of The Main Major Exchangesand Then Buyyou Could Buy A Little Bit Of Bitcoin Ifyou Want You Could Buy 10 Worth 100worth If You Want You Don’t Have To Buya Whole One Or You Know Buy Somedogecoin Buy Some Cardano I’m Notsuggesting Specific Coins By The Waypeople Should Do Their Own Research Thatthey Can Ask In Our Group They Can Askquestions If They Want To Butfirst Thing Watch The Video Learn How Tobasically You Know Openan Account And Do That Then Go Tocoinbase For Binance Buy Someput It In Your Own Wallet And Then Startto Get It In Your Wallet So That You Canstart To Use It Either For Transactionsor Just You Can Even Earn Interest Onthis You Can Earn Interest Like Onethereum You Can Earn Interest On Itlike Five Or Six Percent I Think Um Youcan Earn Interest On Cardano So Quitelike In The Bank Right Now How Muchinterest Do You Get In The Bank Now[laughter]he Depends On Thatwhere You Liveyeah Okay In America Probably We’regetting Like Point Zero Zero Zero Zerozero One Percent Right So Basicallynothingum Inin Cryptocurrencies You Can Actuallymake Interestso That’s That’s Niceso There’s Places Like Block Fiveum Where You Can Do Interest Exodus Isone Of The Wall Streeters Like Five Sixseven Percent Depending On The Coin Sothat’s A Pretty Nice Interest Whenthanks For Paying Zerothank You This Is Athis Is A Real Enlighteningengine Let’s Take A Look At Somethingtoo Remember We Talked About Bitcoinlet’s Take A Look At The Chart For Thisokay So Yes It’s Almost 60 Thousanddollars A Day But If You Had Bought Itback In 2015 You Can See It Was 225okayback Inwas That 2013 It Was 135 Dollars Etc Etclike It Was Less Than A Hundred Dollarswhen You Get Back Before 2013. Okay Andnow Obviously It’s Been Going Up So Ifyou Look At The Trend It’s Just Up Up Upup Up Up Up Upokayand The Reason For That Is Becausethere’s Only A Limited Supplyyou See Here It Says 18 00018 Million 697000 Of These Right There’s Only Going Tobe 21 Million Of These Ever See Thatthis Is Why All The Companies Areraising To Get It Because There’s Onlygoing To Be That Manyever Mintedokay So You Buy It But Do You Have Totrade Likelike Maybe Get Onthethe Market Every Once In A While And Iand And Do Stuff With It To Be Able Toget Yourcurrencies To Appreciate The Way You Dowith Stocksno You Just Buy And Just You Can Justbuy And Hold Right They Call In Thecrypto They Call Ithold On For Dear Life I Believe Right Sothat Basically Means You Just Take Ityou Put It In Your Personal Wallet Irecommend Putting It In Your Ownpersonal Walletdisplaying That In The Training Thewebinar Uh And Then Just Go Ahead Andhold It Right All You Have To Do To Getthis Price Appreciation Is Just Hold Ityou Don’t Have To Trade It You Don’t Doanything Else With It And Like I Saidbitcoin Think Of It As Digital Gold Youdon’t Want To Keep On Trading Your Goldevery Daythank You Very Very Muchjohn Foumfor All These Explanations And For Beinga Part Of The Sankova Pan Africa I Wantto Give One Other Explanation As Wellactuallyone Thing That’s Very Important And Thiscomes Up A Lot Because A Lot Of Timespeople In The West In America And Canadaor Even You Know Here You Know Singaporeasia In More Developed Financial Marketsthey Always Go Oh Well I Might Getbitcoin But I Might Buy Stocks I Mightbuy Real Estateright It’s Just Like An Option It’s Oneof The Asset Classes You Could Get Andthat’s Trueeven Though It’s The Best Performingasset By The Way Over The Last 10 Yearsbut It’s Only One Asset Class On Theother Hand In Africa And Developingnationsit’s The Way That You Prevent Like Ifyou’re In Zimbabwe And You Wanted Yourmoney Not To Just Go Awayyou Need That Or If You Need To Sendmoney To Your Family Member In Anotherafrican Country Or Someplace Else Youcan Do It Like This Where You Couldnever Do It If You Didn’t Have This Soit’s A Very Different Use Case We Callit In Africa In The Developing Worldthis Is Not Just Like Oh This Is A Niceinvestment Just Like How Do I Preservemy Money How Do I Send Money How Do Ikeep It From Being Destroyedso This Is A Very Different You Knowbecause A Lot Of African Currencies Aredevaluing Much But Alsovery Volatile Very Erratic Like Thenaira Uhsay Three Four Years Back You Couldstill Maybe Get The Naira For Like About200 Naira To One Dollarum Today It’s More Like 500 Naira To Onedollarso If You Had Invested Say Ten Dollarsoncryptocurrencyum Two Three Four Years Agoand Andgoing By The Rate Of The Naira Nowyour Your Cryptocurrency Your Yourdollar Would Have Continued To Let’stake A Look Right So Let’s Say That Youwould Have Done Like You Said I Don’tknow What The Translation Was For Nairabut Ten Dollars Back A Year Ago Okay Solet’s Take A Look At A Year Agoso You Bought Your Crypto A Year Ago Itwas About Nine Thousand Dollars For Oneright So Let’s Just Say That You Boughtyou Knowwhatever It Was So That’s About Ninethousand Today We Are A Little Undersixty Thousand So About Six Times Soyour Ten Dollars If You Bought Tendollars With Sixty You Bought A Thousandthat’d Be Six Thousand If You Bought Tenthousand Sixty Thousandand That Explains Whyyou Actually Mentioned Earlier Thatnigeria Is One Of The Biggestmarkets It’sit’s Because The Naira Has Been Veryveryunstableyeah And The Government Really Thoughtwell You Know Hey At Least I Assume Iswhat They Thought Hey We’ll Protect Thecurrency By Stopping Bitcoin Butthat’s Not Good Because Nigeria Has Alot Of Fintechs A Lot Of People Who Aredoing Really Innovative Startups In Myown Cousin Um Who Are Doing Innovativestartups And When You Stop Them Fromusing Bitcoin Then You’re What You’redoing Is You’re Stopping Innovationthat’s Not Good Right You Want It Youwant To Support It Because Not Nigeriais Going To Need To Replace Orsupplement Oil Income In The Future Soif You Start Getting Some Good Fintechyou Start Getting Nigeria’s Got Reallybright People Right We Canstart To Really Get People Going In Thisspace That’s What We Should Be Doingright Not Saying Hey We’ve Been And I’mglad They They Backed Off On The Banbecausethat Didn’t Make Any Sensethis Is A Newfinancial System Thank Youthank You Very Very Much You’vecertainlycleared A Lot Of My Questions And I’mdefinitely Going To Look Into Itthank You For Watchingdon’t Forget To Subscribe To The Sancoofa Pan African Series Channellike Our Videos And Pleaseshare Them With Your Contactshello
