Nairaex Bids For More Industry Policies, Empowers Web3 Teams With Over N1 million

Nigeria’s most trusted cryptocurrency exchange company, Nairaex is building an enabling environment for the Web3 industry by empowering technology teams, advocating for more policies and regulations and sponsoring the Techpoint Africa Blockchain Summit at Four Points by Sheraton, Lagos.  

The Nairaex brand gave tech experts, Developer teams, Founders, blockchain entrepreneurs, policy experts and tech businesses an educative and indelible impression at the Summit showcasing emerging technologies like cryptocurrencies, NFTs and other innovations in the industry.

According to Nairaex, sponsoring the event is a part of its commitment to supporting blockchain development and driving education in Nigeria to stimulate technological growth.

Speaking at a panel session on Web3 and regulations, Nairaex Growth Manager, Yomi Bilewomo said that, “There is room for the cryptocurrency industry to contribute to the rules and regulations governing them. Tech enthusiasts must explore a way for the government to have both the centralized and decentralized systems obtainable in Nigeria.”  

He added, “We believe that with proper regulations and support, the Cryptocurrency market can be an economic game changer for the country.”

During the Summit, the hackathon also sponsored by Nairaex, saw judges from the tech and blockchain industry; Shard Labs Blockchain Engineer, Mayowa Tudonu; TalenQL and AltSchool Africa Co-founder, Sultan Akintunde; Africhange Chief Operating Officer, Ekene Egonu, and BetDemand Chief Executive Officer, Akinyemi Akindele and Crevatal Co-founder, Clement Hugbo award three Web3 teams for originality, design, relevance and innovation with a $2500 cash prize.

Chemotronix Team emerged winner by receiving $1,250 (approximately N752,000) for building a prototype Internet of Things (IoT) device as part of its solution to reduce carbon emissions and other climate-related problems in Africa using the blockchain. Team Block Baddies won $750 (about N450,000) for creating a digital blockchain library that could be useful to African writers, while Team JPS earned $500 (Over N300,000) for its NFT market for digital fashion assets.

While conversing with pressmen at the Summit, Yomi Bilewomo stated that funding the hackathon was an attempt to encourage more innovative blockchain-based solutions and urge more industry players to build blockchain communities in Nigeria.

Nairaex also gave 20 Nigerian tech enthusiasts free tickets to attend the Summit through an engaging media campaign.

Since inception, the company has been at the forefront of driving blockchain innovation,  education and regulations while providing a safe and secure platform for its users to fund their accounts easily and quickly. Nairaex, a product of Africhange Technologies, is a leading cryptocurrency exchange platform that enables on and off-ramp bitcoin transactions. For more information, visit nairaex.com