WEBVTT 1 00:00:04.919 --> 00:00:10.919 Hey folks, Welcome and good evening. Welcome to another session 2 00:00:11.000 --> 00:00:14.519 with me calu Aja on my money space. Of course, 3 00:00:14.560 --> 00:00:19.600 on the space, we're talking money, the economy, finance, right, 4 00:00:19.640 --> 00:00:21.679 that's what we do here. We make it personal to you, 5 00:00:21.760 --> 00:00:24.440 want to make it make you a better investor by 6 00:00:24.480 --> 00:00:27.280 giving you all that information so you can have the 7 00:00:27.399 --> 00:00:29.879 tools to better direct your money. That's such a what 8 00:00:29.960 --> 00:00:35.840 we do here every Sunday, seven pm West African time. 9 00:00:36.079 --> 00:00:42.039 This week we're talking stable coins, right, not just stable coins, 10 00:00:42.320 --> 00:00:45.759 but Nigerian stable coins. That's what we're talking this week. 11 00:00:46.119 --> 00:00:49.920 Two weeks ago we talked about the whole digital space 12 00:00:50.079 --> 00:00:54.000 and how that has evolved with the new US administration 13 00:00:54.320 --> 00:00:56.320 and what that means for Nigeria. We had a lot 14 00:00:56.359 --> 00:00:59.439 of crypto guides here. We're taking it further this week, 15 00:00:59.479 --> 00:01:02.560 talk about stable coins and then see what's that all 16 00:01:02.600 --> 00:01:06.239 about and why should you be interested in this? So, 17 00:01:06.280 --> 00:01:08.159 of course I've got lots, I've got tons of guests 18 00:01:08.159 --> 00:01:10.799 are gonna come in and speak here, and I'm gonna 19 00:01:10.879 --> 00:01:13.079 add them pretty soon so that way they can give 20 00:01:13.159 --> 00:01:16.680 us their best, you know, their knowledge. I'm just gonna 21 00:01:16.680 --> 00:01:20.280 listen and learn. I don't know tons about this this space, 22 00:01:20.879 --> 00:01:23.120 so the experts are going to be here gonna talk 23 00:01:23.159 --> 00:01:25.719 to us. I'm just gonna learn and ask questions. And 24 00:01:25.760 --> 00:01:28.359 if you guys have coins as well, you can DM 25 00:01:28.599 --> 00:01:30.799 or you can request. But there's gonna be a lot 26 00:01:30.840 --> 00:01:33.760 of guys speaking, so I think dms might work for you. 27 00:01:33.840 --> 00:01:35.760 I'm gonna open up my DM so that way you 28 00:01:35.760 --> 00:01:38.480 can send me. Anyone can send me a DM more 29 00:01:38.560 --> 00:01:41.239 or less. There. Yeah, okay, So but let me just 30 00:01:41.239 --> 00:01:43.560 give you guys the intro on what stable coins is. 31 00:01:43.560 --> 00:01:46.920 Because lots of saying what's this stable coin thing? Stable 32 00:01:46.959 --> 00:01:51.280 coins are money market instruments that are on the quote 33 00:01:51.359 --> 00:01:55.439 unquote digital space. You can say the stable coin will 34 00:01:55.480 --> 00:01:58.680 be a money market instrument that is digital. So what's 35 00:01:58.719 --> 00:02:02.719 the money market instrument? It's any instrument that is that 36 00:02:02.799 --> 00:02:05.519 has a term below one year. When you go to 37 00:02:05.560 --> 00:02:09.000 your bank and you do a fixed deposit, say for 38 00:02:09.080 --> 00:02:11.680 one year, that's money market. Now you can do stable 39 00:02:11.680 --> 00:02:14.919 coins one year, that's fine. But the concept is the 40 00:02:14.960 --> 00:02:16.960 same way you go to your bank and you save 41 00:02:17.080 --> 00:02:20.960 money in your bank, in your savings account, in your 42 00:02:21.080 --> 00:02:25.680 checking account, in your fixed deposit, in your certificate deposit. 43 00:02:26.280 --> 00:02:29.360 The same way you're doing that that's what stable coins are. 44 00:02:29.520 --> 00:02:32.400 So in a stable coin, you're taking your physical fiat 45 00:02:32.479 --> 00:02:35.879 currency either Nira or dollar or can Indian dollars, and 46 00:02:35.919 --> 00:02:39.680 you're converted to an electronic form. So it's going to 47 00:02:39.719 --> 00:02:43.680 be that stable currency, right, and when you then convert it, 48 00:02:43.680 --> 00:02:45.879 it's more like the idea is to have it on 49 00:02:45.960 --> 00:02:48.439 a one to one basis, So you might have one 50 00:02:48.479 --> 00:02:51.599 stable coin it's one US dollar or one stable coin 51 00:02:51.680 --> 00:02:55.280 it's one Nigerian era. But that's the idea, right, So 52 00:02:55.319 --> 00:02:59.080 it's the same paper you have in your pocket, but 53 00:02:59.439 --> 00:03:03.879 in a digital form. That's that's where my knowledge stops. 54 00:03:03.879 --> 00:03:04.199 Guys. 55 00:03:04.240 --> 00:03:07.319 So now I have a few guys here, guys, the 56 00:03:07.360 --> 00:03:11.039 assuming if you can request to be added, or I 57 00:03:11.080 --> 00:03:15.879 can make an onionce man should we say a co host, 58 00:03:15.919 --> 00:03:18.000 so you can add them all in here, just so 59 00:03:18.080 --> 00:03:20.439 I understand their handles. Then that way they can come 60 00:03:20.439 --> 00:03:23.599 and speak. So my good friend old man, please request 61 00:03:23.680 --> 00:03:27.560 to be if you can put your hand up, I 62 00:03:27.599 --> 00:03:31.120 can make you. Let me see I see you here. Perfect. 63 00:03:31.159 --> 00:03:34.400 So I've got an MD. I'm gonna add an m 64 00:03:34.479 --> 00:03:37.240 D as a speaker, and the other guys can just 65 00:03:37.319 --> 00:03:39.439 request to speaker. I've got seeng Let me see if 66 00:03:39.479 --> 00:03:44.360 I can add them also as a speaker as well. Onions, man, 67 00:03:44.400 --> 00:03:46.840 I'm gonna add you as a speaker and also make 68 00:03:46.879 --> 00:03:49.800 you a host because you know all your folks and 69 00:03:49.840 --> 00:03:52.680 you guys are the experts. You can add on your folks. 70 00:03:52.680 --> 00:03:55.039 I have tons of questions. I don't know really about this, 71 00:03:55.240 --> 00:03:58.159 you know. So once I've got you youo here, I'm 72 00:03:58.159 --> 00:04:02.120 gonna add him as well. Thank you. So what guys for? Yep, 73 00:04:02.280 --> 00:04:04.280 just give us a second to add all yours. So now, 74 00:04:04.280 --> 00:04:07.680 and I'm going to make your host. I've sent you 75 00:04:07.719 --> 00:04:11.199 an invite, so now you can basically add the other 76 00:04:11.400 --> 00:04:15.000 folks that are going to be our speakers and then 77 00:04:15.039 --> 00:04:18.399 we just take it from there. But we are your 78 00:04:19.920 --> 00:04:24.040 let me see before as we're getting ourselves, let me 79 00:04:24.079 --> 00:04:26.439 just have you on mutan and I've got chimer as well, 80 00:04:26.480 --> 00:04:31.360 so Chim, I'm adding you as well. There we go, 81 00:04:32.839 --> 00:04:38.040 Cloud Engineer, we are your high. Do you want on mute? 82 00:04:38.160 --> 00:04:47.480 And I have a question for you, Yeah, how are 83 00:04:47.519 --> 00:04:49.800 you doing? You want to go ahead and introduce it yourself? 84 00:04:51.600 --> 00:04:52.120 Thank you? 85 00:04:52.360 --> 00:04:55.720 I know you are you currently seven as the managing 86 00:04:55.839 --> 00:05:00.319 direct job of the entity that sort of issue the 87 00:05:00.560 --> 00:05:03.879 c eng And stable going mm hm Nigeria's first regulated 88 00:05:03.879 --> 00:05:04.480 stable goings. 89 00:05:04.680 --> 00:05:05.480 Very very happy. 90 00:05:06.160 --> 00:05:10.199 I've taken this initiative to really shed more lights on 91 00:05:10.639 --> 00:05:13.240 space and there we have it contribute to anyway. 92 00:05:12.959 --> 00:05:17.040 We can, gotcha. So just to overview got c n GN, 93 00:05:17.839 --> 00:05:20.319 is that how to say to dr say cng and 94 00:05:20.519 --> 00:05:22.319 how I say it? 95 00:05:22.639 --> 00:05:24.600 Yes, Yes, it's basically engen well. 96 00:05:24.480 --> 00:05:27.319 Like you c a c gotcha. So c eng And 97 00:05:27.439 --> 00:05:30.800 is Nigeria's first regulated stable coin, so expect one to 98 00:05:30.959 --> 00:05:33.959 one to the naira, you guys. Launches in February of 99 00:05:34.120 --> 00:05:38.800 twenty five, just last month ago. Right developed by Warped 100 00:05:38.920 --> 00:05:45.639 CBDC Limited in collaboration with fintech patterns such as Convexity, Interstellar, Alpha, 101 00:05:45.759 --> 00:05:52.959 gigs techs Now. Unlike the traditional cryptocurrencies, the CNGN maintains 102 00:05:52.959 --> 00:05:58.639 stability as fully backed by Nigerian reserves held in licensed 103 00:05:59.000 --> 00:06:02.680 financial ifitions. And the most important thing I saw here 104 00:06:02.959 --> 00:06:07.160 it is regulated under the Nigerian Security and Exchange Commissions 105 00:06:07.319 --> 00:06:11.480 Regulatory Incubation Program. So number one, you guys have got 106 00:06:11.480 --> 00:06:14.800 the reserves to back whatever it's issued on the stable 107 00:06:14.800 --> 00:06:18.480 coin space. And number two it's also regulated by the 108 00:06:18.639 --> 00:06:22.959 Security and Exchange Commission. So take it from there. Talk 109 00:06:23.000 --> 00:06:25.800 to us about what why doing the Nigerians stable coin? 110 00:06:25.879 --> 00:06:28.399 I know we have dollars stable coins? Or why do 111 00:06:28.560 --> 00:06:29.800 the Nigerian table coin? 112 00:06:33.600 --> 00:06:41.519 Thanks God? Really everything everything checks out, so or look 113 00:06:41.560 --> 00:06:42.360 how stable coin? 114 00:06:42.519 --> 00:06:42.639 Right? 115 00:06:42.879 --> 00:06:46.160 For specifically for I think we can start with web 116 00:06:46.240 --> 00:06:49.279 three crypto users and I'm not sure what the crowd. 117 00:06:49.000 --> 00:06:54.160 Here is just speak English like we don't know about crypto. 118 00:06:55.680 --> 00:07:04.319 Okay, that'll say this stable coin in general. Really like 119 00:07:05.040 --> 00:07:09.199 Patrick Patrick, the s of Stripe right as in many 120 00:07:09.199 --> 00:07:13.279 of us here know, Stripe recently acquired Bridge, right, so 121 00:07:13.439 --> 00:07:17.879 Bridge is a stable coined platform, right, so they basically 122 00:07:18.639 --> 00:07:23.399 Bridge basically allows you to go from different country stable coins. Right, 123 00:07:23.480 --> 00:07:27.040 so you can go from you know Ninegian now stable 124 00:07:27.120 --> 00:07:30.399 going to a USD stable coin to Kenny and in 125 00:07:30.399 --> 00:07:32.560 stable cooind just really going from still going to stable coin. 126 00:07:33.600 --> 00:07:37.360 And yeah, Patrick Patrick has this quote I love. I'm 127 00:07:37.399 --> 00:07:41.040 trying to look for it, but it's basically basically really 128 00:07:41.079 --> 00:07:47.720 just stating sentiments that stable coins are going to supercharge payments. 129 00:07:47.879 --> 00:07:48.040 Right. 130 00:07:48.079 --> 00:07:51.120 Stable coins are really future of payments because with stable 131 00:07:51.199 --> 00:08:01.560 coins you you materially improve the flow of capital. 132 00:08:01.800 --> 00:08:05.759 Right, what does that mean? What does that mean in 133 00:08:05.920 --> 00:08:07.079 put the flow of capital? 134 00:08:08.839 --> 00:08:12.240 Yes, basically it basically removes a lot of friction. 135 00:08:12.600 --> 00:08:17.079 So for example, you can I can't if I'm an acquirer. 136 00:08:17.160 --> 00:08:18.120 So if. 137 00:08:20.079 --> 00:08:23.720 You know you have to to financial institions rights, you 138 00:08:23.759 --> 00:08:27.040 have an issuer and you have an acquire right. So 139 00:08:27.079 --> 00:08:29.720 the issue is basically, think of your bank when you're 140 00:08:29.720 --> 00:08:33.799 making payments. Let's say grants the trust bank, right, So 141 00:08:33.919 --> 00:08:36.480 you have your bank card as a regular customer of 142 00:08:36.480 --> 00:08:39.759 your bank, and then you're making payments to you know, 143 00:08:42.440 --> 00:08:46.399 a third party. So maybe you're paying through an opay terminal, right, 144 00:08:46.559 --> 00:08:49.120 or you're paying in one point in terminal, or even 145 00:08:49.120 --> 00:08:52.440 more interesting, you're trying to buy something on the express 146 00:08:52.519 --> 00:08:56.000 right or on Amazon and you're paying for something you 147 00:08:56.000 --> 00:08:59.320 know in another bank in another country. 148 00:09:00.039 --> 00:09:00.440 Important. 149 00:09:00.759 --> 00:09:05.120 So normally, normally I would do NYRA two dollar paper, 150 00:09:05.679 --> 00:09:08.919 then do my dollar paper to go online to GT 151 00:09:09.120 --> 00:09:13.879 bank and transfer that dot dollar i e. The transfer 152 00:09:14.080 --> 00:09:18.159 to the vendor. That's how I would pay. Normally, I'll 153 00:09:18.200 --> 00:09:21.679 go NYRA paper dollar paper, then take my dollar back 154 00:09:21.720 --> 00:09:24.600 to the bank, put it in bank account, then transfer 155 00:09:24.679 --> 00:09:28.360 that dollar electronically to pay that vendor in say in 156 00:09:28.399 --> 00:09:31.840 the US, That's what I would do normally, Yes, okay, 157 00:09:31.919 --> 00:09:35.039 so how would this change now with with this C 158 00:09:35.320 --> 00:09:36.759 engine and what changes? 159 00:09:38.039 --> 00:09:41.519 So mostly mostly for the institutions, it's sort of doing 160 00:09:41.559 --> 00:09:46.320 those settlements. So typically when the pments happen, it could 161 00:09:46.360 --> 00:09:49.320 take like three to five days. It's for the actual 162 00:09:49.440 --> 00:09:53.720 dollars to land. And you know with the with the 163 00:09:53.720 --> 00:09:58.519 acquired we machality your pay right, just because they're old processors, 164 00:09:58.679 --> 00:10:02.639 the seal financial instations in middle you know, money has 165 00:10:02.639 --> 00:10:06.000 to go really slowly across. But but with stable clients, 166 00:10:06.039 --> 00:10:10.759 for example, it can go from you in Nigia, right, 167 00:10:11.360 --> 00:10:14.879 So you acquire basically anywhere and go to your merchant 168 00:10:15.240 --> 00:10:21.159 and they're settled instantly for you know, almost zero fees basically, 169 00:10:21.159 --> 00:10:23.799 so instead of having to pay I don't know, five 170 00:10:23.840 --> 00:10:29.279 thousand and five transactional one thousand, five hundred transactional. Yeah, 171 00:10:29.440 --> 00:10:34.039 they're basically settled instantly and there's finality. So what that 172 00:10:34.159 --> 00:10:38.200 means is in real time that value is moving from 173 00:10:38.240 --> 00:10:41.519 you through the end recipients. 174 00:10:41.120 --> 00:10:42.759 In real time instantly. 175 00:10:42.879 --> 00:10:44.639 It really really changes a lot. 176 00:10:44.919 --> 00:10:48.360 Yeah, Okay, the question I'm already getting now is this, 177 00:10:48.879 --> 00:10:51.159 if I'm paying the guy in the US am I 178 00:10:51.279 --> 00:10:55.039 paying him nira or dollar? So I know we have 179 00:10:55.080 --> 00:10:56.879 a few other guys here. What am I paying him? 180 00:10:56.879 --> 00:10:59.399 So I'm taking in naira to no, normally do nira 181 00:10:59.559 --> 00:11:02.840 dollar electronic dollar? Then pay him with this. I might 182 00:11:02.879 --> 00:11:03.840 pay him narrow dollar. 183 00:11:05.080 --> 00:11:06.840 Your opinion there? Your opinion there? 184 00:11:06.960 --> 00:11:10.840 So what this really does in dances it enhances It 185 00:11:11.080 --> 00:11:15.159 enhances the flow or the financial institute involved. Right, so 186 00:11:15.200 --> 00:11:17.919 it kind of makes it easier for them to set 187 00:11:17.960 --> 00:11:23.600 to their own liabilities. That's what really this really improves. 188 00:11:23.879 --> 00:11:25.840 Okay, So I got Chima here right, and I had 189 00:11:25.840 --> 00:11:28.759 a question for Chima. Is more in chim high? How 190 00:11:28.840 --> 00:11:29.120 you doing? 191 00:11:30.799 --> 00:11:30.919 Hi? 192 00:11:33.480 --> 00:11:33.679 Yeah? 193 00:11:34.759 --> 00:11:38.440 Yeah, yeah, Hi great. So I want to get your 194 00:11:38.480 --> 00:11:41.639 insights in terms of just the the structure, not the 195 00:11:41.720 --> 00:11:44.360 technical side of it. Right. I'm not sure if you 196 00:11:44.440 --> 00:11:48.440 can speak on that. I see SEC regulation of that 197 00:11:48.559 --> 00:11:52.120 is that you just for me, I'm a guy in 198 00:11:52.200 --> 00:11:55.639 a laba and I buy goods from on a chair, 199 00:11:55.840 --> 00:11:58.519 I selling legos? How does this work for me? 200 00:12:00.639 --> 00:12:01.120 Okay? 201 00:12:03.600 --> 00:12:09.000 So so say this way, we have the real that's 202 00:12:09.039 --> 00:12:12.360 the blockchain REIL actually that does the payments. So you 203 00:12:12.399 --> 00:12:16.639 have your c n G and it makes it easier 204 00:12:16.919 --> 00:12:20.840 for you to do settlements. So say your supplier is 205 00:12:21.039 --> 00:12:27.320 kind of like that accepting digital currencies as well. Let's 206 00:12:27.360 --> 00:12:30.200 say US did U s C. Now, in doing that, 207 00:12:32.799 --> 00:12:35.879 you need to go through a merchant let's say for example, 208 00:12:35.919 --> 00:12:39.960 now with that or Bush or even some of the debts, 209 00:12:40.080 --> 00:12:43.240 go do some marchant actually creating. 210 00:12:44.399 --> 00:12:47.519 A p C engine c ENG and U s C 211 00:12:47.559 --> 00:12:50.120 T U s and or Now you go through them. 212 00:12:50.480 --> 00:12:54.159 You have your c ENG and and then you make 213 00:12:55.440 --> 00:12:58.879 you get US or U s C with that instantly, 214 00:12:59.240 --> 00:13:00.279 and then you do this too. 215 00:13:00.919 --> 00:13:01.600 That's one week. 216 00:13:01.720 --> 00:13:05.759 Then another way is there are some there's some innovative 217 00:13:06.840 --> 00:13:11.799 solutions that are currently being tested by some some solution providers. 218 00:13:11.879 --> 00:13:15.399 Now that they create the real whereby you don't even 219 00:13:15.480 --> 00:13:21.039 need to look for where to do to even switch 220 00:13:21.840 --> 00:13:24.600 c ENG into US or U s C. You just 221 00:13:25.039 --> 00:13:28.320 simply go there and make your payment and then they 222 00:13:28.399 --> 00:13:32.200 do the whole switching and settlement for you with the 223 00:13:32.440 --> 00:13:35.200 marchantol the supplier that you want to do in US 224 00:13:35.519 --> 00:13:36.320 or U s real. 225 00:13:36.679 --> 00:13:40.600 So So what I is, if I'm hearing you correctly right, 226 00:13:40.679 --> 00:13:43.440 So if I'm a guy in a laba and I 227 00:13:43.559 --> 00:13:47.519 want to import maybe compress US from China. I will 228 00:13:47.559 --> 00:13:50.440 simply get to see and take my my role naira 229 00:13:50.519 --> 00:13:52.720 from my bank in Nigeria because it's regulated. So I 230 00:13:52.799 --> 00:13:56.440 debit my Nigerian bank and I buy c ENG and 231 00:13:57.440 --> 00:14:01.320 that takes me digital. Then I then go from c 232 00:14:01.720 --> 00:14:05.440 N g N and I buy dollar or yuan or 233 00:14:05.480 --> 00:14:08.200 whatever it is I want to trade. I buy digitally 234 00:14:08.279 --> 00:14:09.080 online as well. 235 00:14:09.200 --> 00:14:13.559 Right, yeah, so that would be that would be equivalent 236 00:14:13.679 --> 00:14:15.080 of your own stable coin. 237 00:14:15.360 --> 00:14:18.559 Right, so you have you have stable coin, you have 238 00:14:18.759 --> 00:14:21.519 others that are also coming up, So it's just you 239 00:14:21.799 --> 00:14:26.080 trading digitally without going to look for a. 240 00:14:27.559 --> 00:14:29.000 Dollar of foreign currency. 241 00:14:29.639 --> 00:14:31.960 So am I doing? It's only stable to stable or 242 00:14:32.000 --> 00:14:34.720 I can go from c g N to save bitcoin 243 00:14:35.159 --> 00:14:37.639 or any other Does it have to be a stable 244 00:14:37.720 --> 00:14:41.120 coin per se because it's the closest money market, don't 245 00:14:41.200 --> 00:14:41.720 get my question? 246 00:14:43.360 --> 00:14:45.440 Yeah yeah, so so so that is not for us 247 00:14:45.559 --> 00:14:47.519 to control, right, it's now for. 248 00:14:49.000 --> 00:14:52.600 People that are the market makers or those that are 249 00:14:52.960 --> 00:14:55.360 going into the health plut. 250 00:14:56.600 --> 00:15:00.279 We do those peering with CNN to this year. All 251 00:15:00.320 --> 00:15:03.120 that as is just a issue, and then we have 252 00:15:03.720 --> 00:15:05.480 those that solution providers. 253 00:15:05.840 --> 00:15:09.080 Okay, all that which is possible, Okay, hang on there, 254 00:15:09.279 --> 00:15:12.120 Let me get victim into this discussion. Victor in terms 255 00:15:12.159 --> 00:15:16.960 of so Nigeria, Ghana, Kenya, South Africa, these are all 256 00:15:17.080 --> 00:15:19.120 the places where Nigers are doing a lot of trading. 257 00:15:19.440 --> 00:15:21.639 If you look at the Nigeria West African sub region, 258 00:15:21.720 --> 00:15:25.720 Nijers are doing a lot of trade in Togo, ben In, Ghana, 259 00:15:25.960 --> 00:15:30.759 Ivory Coast. We use Cepha, we use naira, we use dollar. 260 00:15:31.799 --> 00:15:35.240 In terms of just the African strategy, we have Nigerian 261 00:15:35.320 --> 00:15:39.159 banks already in all these countries. We do commerce already 262 00:15:39.240 --> 00:15:41.879 in all these countries. There's already talk of a West 263 00:15:42.000 --> 00:15:46.960 African digital West African currency not digital in this we're 264 00:15:47.000 --> 00:15:49.840 in West Africa. Just leave for me out how this 265 00:15:50.080 --> 00:15:54.039 helps Nigeria or Africa in terms of trade. You know 266 00:15:54.120 --> 00:15:57.200 that we have the African corners fee trade. Does this 267 00:15:57.960 --> 00:16:01.240 plug in? Does it enhand s? How? 268 00:16:05.039 --> 00:16:07.080 Thank you very much, my ador. 269 00:16:07.360 --> 00:16:10.639 Yes you are all right, So thank you very much. Cali. 270 00:16:10.679 --> 00:16:12.919 It is a pleasure to meet you, my brother. And 271 00:16:13.559 --> 00:16:19.519 that's a very good, good question. So today the c 272 00:16:19.679 --> 00:16:25.480 eng and like Shima just finished mentioning, is more or 273 00:16:25.559 --> 00:16:30.440 less in digital representation of the Nigerian and Ira. And 274 00:16:30.600 --> 00:16:33.759 the fact that we are now going beyond just Nigeria 275 00:16:35.000 --> 00:16:41.919 with what the African Free Trade Zone started led by. 276 00:16:43.320 --> 00:16:44.840 The team. 277 00:16:46.399 --> 00:16:47.279 By Key. 278 00:16:48.279 --> 00:16:52.519 We are also working very closely with a frexing bank, 279 00:16:54.159 --> 00:16:59.879 working very closely with PERAPS. What is perhaps perhaps in short, 280 00:17:00.159 --> 00:17:03.080 is the African payment settlement system in full. 281 00:17:03.440 --> 00:17:09.359 Okay, if you all probably look at your what's it called. 282 00:17:09.160 --> 00:17:12.640 Now, you look at the internet or around you probably 283 00:17:12.720 --> 00:17:16.720 might be seeing flickers of things called the PUPS African 284 00:17:16.839 --> 00:17:23.359 Currency market Place and just to add the African Currency. 285 00:17:23.039 --> 00:17:25.680 Market Place started a pilot. 286 00:17:25.640 --> 00:17:31.839 With those three countries you mentioned, Nigeria, Ghana, Kenya and 287 00:17:31.960 --> 00:17:32.759 given Cameroon. 288 00:17:33.960 --> 00:17:37.480 We have started doing pilot. We started the pilot sometime. 289 00:17:37.279 --> 00:17:42.160 Last year fully in August twenty twenty four, and it's 290 00:17:42.519 --> 00:17:45.680 about to fully fully go live. The announcement has gone 291 00:17:45.720 --> 00:17:48.759 out from the CEO of pubs as well. Now let's 292 00:17:48.799 --> 00:17:54.960 bring it homes up. When we do those transactions today, we. 293 00:17:55.240 --> 00:17:58.400 Actually have the corporates. 294 00:17:58.480 --> 00:18:03.240 Corporates like for example, let you say do let's say 295 00:18:03.319 --> 00:18:07.079 ken your airways deposit fonds into a. 296 00:18:09.000 --> 00:18:10.119 Normal commercial bank. 297 00:18:10.599 --> 00:18:12.319 Like you also know there are banks. 298 00:18:12.079 --> 00:18:16.240 In all these places, but when it's deposited, there is 299 00:18:16.240 --> 00:18:17.680 a representation. 300 00:18:17.240 --> 00:18:19.160 On to one of it's in the platform that was 301 00:18:19.200 --> 00:18:20.920 built by us. 302 00:18:21.799 --> 00:18:26.599 And then this automatically, as you will agree with me, 303 00:18:27.319 --> 00:18:31.319 a fable coin like you just mentioned, is a simple 304 00:18:31.680 --> 00:18:36.880 reserve mirroring a fiat currency somewhere and using APIs in 305 00:18:36.920 --> 00:18:41.440 a programmatic way tracks that reserve right and it can 306 00:18:41.599 --> 00:18:44.279 move and do a lot of various things. 307 00:18:45.079 --> 00:18:48.599 That is what today has been piloted at perhaps. 308 00:18:48.359 --> 00:18:55.519 However, however, this was piloted just in readiness, in readiness again. 309 00:18:55.759 --> 00:19:00.920 For what we have already started doing and building at 310 00:19:01.200 --> 00:19:04.400 rhaps d DC and we've been testing this to see 311 00:19:04.839 --> 00:19:07.880 and the fact that we now have the CNGN now 312 00:19:08.319 --> 00:19:10.960 sorry for the noise in the background, please, the fact 313 00:19:11.000 --> 00:19:15.839 that we have CNGN now we are about to now 314 00:19:15.920 --> 00:19:18.359 also plug that in at a public layer. 315 00:19:19.359 --> 00:19:23.160 Now what does that do or what does that help? 316 00:19:23.200 --> 00:19:27.920 And I will give a very live example today Sir 317 00:19:29.440 --> 00:19:35.519 Kenya always is able to move ticket sales from. 318 00:19:35.680 --> 00:19:40.039 Nigeria and repatriate it back to Kenya in a matter 319 00:19:40.160 --> 00:19:41.880 of probably just ten minutes. 320 00:19:42.599 --> 00:19:45.599 Interesting now, before now. 321 00:19:47.079 --> 00:19:52.559 They have had massive, massive issues like the cell tickets 322 00:19:52.759 --> 00:19:59.359 in Nigeria and Nira or Cameronians saff or Malawian Quahta 323 00:20:00.480 --> 00:20:03.319 and Unfortunately they are not able to reportraate this in 324 00:20:03.480 --> 00:20:04.079 record time. 325 00:20:04.160 --> 00:20:05.359 And you know what that means. 326 00:20:05.559 --> 00:20:07.599 What that means, calory is that they need to go 327 00:20:07.839 --> 00:20:12.599 to a central bank try and get US dollar right 328 00:20:13.240 --> 00:20:15.839 so that they can repatriate it. Because usually, like you 329 00:20:15.839 --> 00:20:18.440 will agree with me, moving look occurrencies is not that 330 00:20:18.680 --> 00:20:22.640 easy from one country right within Africa. You need some 331 00:20:22.839 --> 00:20:25.799 intervention right, which most of the time might be swift, 332 00:20:26.079 --> 00:20:30.039 or you just get to talk to the central bank. 333 00:20:30.799 --> 00:20:34.319 Usually sir countries like say Nigeria and other African countries 334 00:20:34.359 --> 00:20:39.240 with the volatility of the occurrencies would now most of 335 00:20:39.319 --> 00:20:41.799 the time just get only maybe out of say they 336 00:20:41.880 --> 00:20:46.039 have probably hypothetically now maybe they have like say five 337 00:20:46.160 --> 00:20:50.000 hundred thousand dollars sales of tickets what the central bank 338 00:20:50.039 --> 00:20:53.119 would always give because there's the BDCs they have to give, 339 00:20:53.359 --> 00:20:55.920 there's the banks that wants PTA and BTA right. 340 00:20:56.240 --> 00:20:59.640 So before they get to it's aways, they might just 341 00:20:59.720 --> 00:21:02.720 begin like say ten thousand dollars or at most twenty thousand. 342 00:21:03.160 --> 00:21:05.240 That doesn't mean they can clear their backlog. 343 00:21:05.960 --> 00:21:08.400 In the process of doing that, it takes time before 344 00:21:08.400 --> 00:21:11.759 they're able to move all that phonts volatility hits them. 345 00:21:11.920 --> 00:21:14.319 So you see a situation where it's. 346 00:21:14.279 --> 00:21:21.319 A five hundred thousand now becomes eventually maybe two hundred thousand. 347 00:21:21.880 --> 00:21:24.880 This is a clear case and a clear problem. But today, sir, 348 00:21:25.920 --> 00:21:28.960 I know that we tested something in January. 349 00:21:30.119 --> 00:21:32.319 This year, they have sold some tickets. 350 00:21:32.920 --> 00:21:35.759 These days, if they sell tickets in a few minutes, 351 00:21:35.920 --> 00:21:38.880 they have it back in in Kenya. 352 00:21:39.319 --> 00:21:42.720 Okay, well, good question for you, sis, don't interrupt. You 353 00:21:42.799 --> 00:21:46.359 add it omitting nira or dollars. So what ken air 354 00:21:46.559 --> 00:21:47.079 is taken out? 355 00:21:48.279 --> 00:21:53.519 Can you always takes out there the nira? Oh, and 356 00:21:54.079 --> 00:21:57.039 there's nira they take out side. There is no dollar 357 00:21:57.200 --> 00:21:59.119 involvement in everything. 358 00:21:58.640 --> 00:21:59.759 And everything we are saying, sir. 359 00:22:00.119 --> 00:22:03.200 Yeah, and which is record one for us in Africa. 360 00:22:03.960 --> 00:22:07.720 Record because at the end of the day, African. 361 00:22:07.440 --> 00:22:09.559 Currencies have more mobility. 362 00:22:10.000 --> 00:22:10.880 Like what we say, the. 363 00:22:12.400 --> 00:22:15.960 Stable coins within Africa will make African. 364 00:22:15.640 --> 00:22:17.240 Currencies now have we call. 365 00:22:17.160 --> 00:22:19.960 Them currencies on steroids now tech notes? 366 00:22:20.319 --> 00:22:22.960 Like somebody was asking me some few days ago that 367 00:22:23.079 --> 00:22:23.319 if I. 368 00:22:23.400 --> 00:22:26.960 Was in Kenya or in Nigeria and I make a 369 00:22:27.039 --> 00:22:32.440 payment into a wallet system with the stable coin at 370 00:22:32.480 --> 00:22:35.599 the other end, will I receive or in the other country, 371 00:22:35.880 --> 00:22:40.319 will I receive the currency I initiated. 372 00:22:39.799 --> 00:22:41.960 It from and was from Nigeria, and I'm giving it 373 00:22:42.160 --> 00:22:45.079 to somebody in Kenya. Will they receive Nigeria and naira 374 00:22:45.799 --> 00:22:48.359 or they will they receive the kaya shillings in stable coin. 375 00:22:48.920 --> 00:22:50.279 If there is a stable coin. 376 00:22:50.119 --> 00:22:53.079 In Kenya, which we are almost also erhaps a BDC 377 00:22:53.240 --> 00:22:55.759 almost done with the approvals, they will receive it in 378 00:22:55.839 --> 00:22:57.039 Kaya shillings. 379 00:22:58.160 --> 00:22:59.759 Because its stable coin stable coin. 380 00:23:00.440 --> 00:23:03.240 And if you're in the US, if we have like 381 00:23:03.559 --> 00:23:08.279 a settlement or a payout partner, it makes it easier 382 00:23:08.799 --> 00:23:11.119 for them to also receive it in a stable coin 383 00:23:12.000 --> 00:23:14.759 of US dollars. And at most also if they are 384 00:23:14.839 --> 00:23:18.720 payer partners, they can also offern for them in normal. 385 00:23:18.680 --> 00:23:20.000 Fat if they choose to do so. 386 00:23:20.279 --> 00:23:22.880 But what makes it unique, Calu is this What makes 387 00:23:22.920 --> 00:23:26.079 it unique is the fact that I do not have 388 00:23:26.240 --> 00:23:28.920 to go through traditional banking per se. 389 00:23:29.039 --> 00:23:31.680 I'm using a wallet system that is still approved and 390 00:23:31.759 --> 00:23:34.319 supervised by the bank in a regulatory fashion. 391 00:23:34.640 --> 00:23:36.160 That's what mixing gre unique. 392 00:23:36.440 --> 00:23:40.680 It is regulated, monitored and compliance, so we're seen doing 393 00:23:40.839 --> 00:23:43.640 all the rules that the bank would want, but we 394 00:23:43.680 --> 00:23:46.680 are only following an approach that is much more efficient 395 00:23:47.079 --> 00:23:50.160 and much more effect effective for the financial equosis. 396 00:23:51.559 --> 00:23:54.359 Okay, so in essence, right, let's let's I always use 397 00:23:54.359 --> 00:23:56.599 the example of what's happened today and then what you 398 00:23:56.640 --> 00:24:01.039 guys want to change. So today care is remitting in 399 00:24:01.480 --> 00:24:03.839 foreign currency because they need dollars. They don't use nyra 400 00:24:03.960 --> 00:24:07.240 in Kenya. That's what we have. But what you're saying 401 00:24:07.319 --> 00:24:11.200 is that, yeah, what you're in a way, this can 402 00:24:11.240 --> 00:24:14.559 always can remit nyra or hold that narra in stable coins. 403 00:24:14.680 --> 00:24:17.920 It's instantaneous, it's give them value and they can use 404 00:24:17.960 --> 00:24:20.880 that same table coins to say buy fuel at the 405 00:24:20.960 --> 00:24:24.319 airport for their planes that land in Because am I 406 00:24:24.359 --> 00:24:27.759 getting right without them without them going to the dollar, 407 00:24:27.799 --> 00:24:30.039 we don't have to request for dollar from the CB 408 00:24:30.680 --> 00:24:36.599 and all that I was saying, that's what I'm learning. 409 00:24:36.640 --> 00:24:38.599 I'm letting the stop. Lets let me talk to Victor 410 00:24:38.839 --> 00:24:42.799 or Victor just in terms of just give me on 411 00:24:42.920 --> 00:24:45.759 the example how I can use this. You know Nigerians, 412 00:24:46.480 --> 00:24:49.839 the great use for dollar is to pay school fees abroad. Right, 413 00:24:50.519 --> 00:24:52.759 I know school fees is not nyra, but just to 414 00:24:52.839 --> 00:24:56.200 give me an my manay sign, how else can I 415 00:24:56.359 --> 00:24:59.640 can can the guy listening to this space that has 416 00:24:59.680 --> 00:25:02.759 a show job or how this school. Again, I think 417 00:25:02.799 --> 00:25:04.559 what I'm asking is why do we need a stable 418 00:25:04.640 --> 00:25:08.000 coin in Nira, because is in Nira itself stable? What 419 00:25:08.119 --> 00:25:08.559 does this do? 420 00:25:08.720 --> 00:25:08.960 Does this? 421 00:25:09.799 --> 00:25:15.000 Can you balance that? Conflicting to when Nara is not stable? 422 00:25:15.039 --> 00:25:17.559 Have a stable coin? Can you help me out to that? Victor? 423 00:25:19.039 --> 00:25:19.680 Yeah, thank you? 424 00:25:19.799 --> 00:25:20.279 Can you hear me? 425 00:25:20.440 --> 00:25:20.960 I can hear you? 426 00:25:21.039 --> 00:25:21.200 Yes? 427 00:25:22.160 --> 00:25:23.319 Awesome called coll It's. 428 00:25:23.160 --> 00:25:23.960 A pleasure to be here. 429 00:25:24.279 --> 00:25:29.920 Calu. Why do we need a stable coin? I think 430 00:25:29.960 --> 00:25:32.839 my colleagues already discussed on all the use cases. 431 00:25:34.119 --> 00:25:36.279 But something else that we should consider when we're talking 432 00:25:36.319 --> 00:25:40.480 stable coins is there's there's so many phrases that were 433 00:25:41.000 --> 00:25:44.720 the stable point is but to think about programmable money, right, 434 00:25:45.440 --> 00:25:50.599 someone had said currency and steroids. That is also you know, 435 00:25:50.759 --> 00:25:56.599 a very close description of what stable coins are. Your 436 00:25:56.640 --> 00:25:59.680 money is no longer you know, limited, so to speak. 437 00:26:00.000 --> 00:26:01.640 And I'm gonna I'm going to present a couple of 438 00:26:01.880 --> 00:26:07.960 a few use cases. Let's start with remittances. And again, 439 00:26:08.079 --> 00:26:10.160 by the way, you just know that what we've not 440 00:26:10.279 --> 00:26:13.079 done is provided infrastructure and people are able to critically 441 00:26:13.079 --> 00:26:15.960 are able to build duty solutions, just like we've done 442 00:26:16.000 --> 00:26:18.440 for other popular stable coins in other parts of the world. 443 00:26:19.559 --> 00:26:21.920 But before I mentioned use cases, you said something about 444 00:26:22.000 --> 00:26:25.200 Narra not being stable. It's called a stable coin simply 445 00:26:25.240 --> 00:26:28.119 because it's not as buller tail as the other you 446 00:26:28.200 --> 00:26:32.559 know cryptos, right, But it's only stable relative to its currency. 447 00:26:34.240 --> 00:26:37.559 If something happens, if a Blacksmoe event happens to the 448 00:26:37.720 --> 00:26:41.240 U s D, which probably is on you maybe maybe 449 00:26:41.319 --> 00:26:44.920 something that we might not expect to happen, then the 450 00:26:45.160 --> 00:26:46.440 U s D it is and us this is our 451 00:26:46.480 --> 00:26:48.279 only stable relative to the stability of the of the 452 00:26:48.400 --> 00:26:49.079 USD as well. 453 00:26:49.559 --> 00:26:54.039 So it's the same thing with Naira. But setting points is. 454 00:26:54.079 --> 00:26:56.920 Not necessarily you know, trying to compete with the USD, 455 00:26:57.039 --> 00:26:59.359 but trying to activate. What Innara is able to do 456 00:26:59.440 --> 00:27:02.759 in a digit economy today is someone in the US 457 00:27:03.039 --> 00:27:07.480 or Denmark as cardin media and literally acquire ski Engine 458 00:27:08.480 --> 00:27:13.240 from you know, decentralized marketplaces directly and send it back 459 00:27:13.279 --> 00:27:17.799 home directly, and someone at home and decide to convert 460 00:27:17.920 --> 00:27:21.079 into nyrate. And as the ecosystem you know, grows bigger, 461 00:27:22.000 --> 00:27:24.279 you know, and we have interesting becoming to build things here, 462 00:27:24.319 --> 00:27:25.880 you might not even decide you might not even need 463 00:27:25.960 --> 00:27:28.480 to convert back into Fiat, because you. 464 00:27:28.720 --> 00:27:30.119 May you may be able to spend it. 465 00:27:30.400 --> 00:27:32.880 And what you wonder why you want to spend fiat 466 00:27:33.079 --> 00:27:35.000 your web stable where you can spend your feat but 467 00:27:35.119 --> 00:27:43.119 imagine that you could provide payments per minutes. You probably 468 00:27:43.119 --> 00:27:45.279 couldn't do this, you know with the NYRO when when 469 00:27:45.279 --> 00:27:47.480 you consider you know, banking fees and things like that, 470 00:27:48.160 --> 00:27:50.720 you can now you know, with the power stable coins program. 471 00:27:51.240 --> 00:27:53.680 You know, payments to happen per minute. So maybe someone 472 00:27:53.720 --> 00:27:56.480 is streaming yourself, maybe you're a musician, for example, you 473 00:27:56.599 --> 00:27:57.960 can charge them per second. 474 00:27:58.839 --> 00:27:59.480 Do give what I mean? 475 00:27:59.839 --> 00:28:02.039 You know, So those are some of the possibilities that 476 00:28:02.160 --> 00:28:06.319 people can build with the power, with the technology of 477 00:28:06.400 --> 00:28:07.119 stable coins. 478 00:28:07.960 --> 00:28:10.240 Okay, yeah, maybe I should just stop there. 479 00:28:10.680 --> 00:28:12.680 Fantastic. Let me ask you a question. So when we 480 00:28:12.799 --> 00:28:15.119 did the Niract change over, when we changed Naira, we 481 00:28:15.160 --> 00:28:18.400 you know, went from where when Barry was leaving and 482 00:28:18.480 --> 00:28:20.400 we had to change to go to it. You know, 483 00:28:20.480 --> 00:28:22.079 we held the niractor and not what the name to 484 00:28:22.160 --> 00:28:24.799 use for the narrator to color change. If we had 485 00:28:24.920 --> 00:28:28.200 this back then, right, would this have helped? Because I 486 00:28:28.240 --> 00:28:32.160 think at that point the banks were overwhelmed transfers, we're 487 00:28:32.240 --> 00:28:35.839 not working, the infrastructure could not take the huge volume. 488 00:28:36.160 --> 00:28:38.880 Would this have help in any way? Or this does 489 00:28:38.960 --> 00:28:40.839 this help any way? 490 00:28:42.000 --> 00:28:44.839 I'll tell you for free the very short answers. Yes. 491 00:28:45.319 --> 00:28:49.160 Yes, those who are ware predating year, they know the 492 00:28:49.240 --> 00:28:52.480 ease at which you can send assets from one part 493 00:28:52.559 --> 00:28:53.359 of the world to the other. 494 00:28:54.400 --> 00:28:54.559 You know. 495 00:28:55.000 --> 00:28:59.519 Yeah, So the short and simple answers yes, and think 496 00:28:59.559 --> 00:29:02.160 about it. No delays, no bank delays, nothing gets stuck. 497 00:29:02.559 --> 00:29:05.720 You're not worried about crazy fees, so you're not even 498 00:29:06.319 --> 00:29:08.880 that period. You know what's happening now, people were you know, 499 00:29:09.079 --> 00:29:13.720 few feeling station and attendance were colluding with pres merchants 500 00:29:13.759 --> 00:29:16.359 and people were literally selling the Nyra you know at 501 00:29:16.359 --> 00:29:19.079 the premium. Such such a thing would not have happened 502 00:29:19.119 --> 00:29:22.359 because we just I think about it. A lot of 503 00:29:22.400 --> 00:29:25.279 people now had to switch to drin transfers. But this 504 00:29:25.519 --> 00:29:28.359 was already like a low hanging fruit where you can 505 00:29:28.759 --> 00:29:31.640 you can send one, you can send to Nira and 506 00:29:31.759 --> 00:29:34.079 not get chat by Narra as a fee. Do you 507 00:29:34.119 --> 00:29:36.200 get what I mean? You know, so this would have 508 00:29:36.279 --> 00:29:38.559 been a perfect solution. 509 00:29:40.240 --> 00:29:42.559 Can you exactly can you explain that I can send 510 00:29:42.680 --> 00:29:44.599 one Nara and not get chat to FI? Can you 511 00:29:44.680 --> 00:29:46.440 expand it on that place, and I have the last 512 00:29:46.519 --> 00:29:48.599 question form. That's lots of foots want to ask a question. 513 00:29:48.599 --> 00:29:51.240 I'm going to add them praise soon. But so I 514 00:29:51.319 --> 00:29:52.839 can send one what does that mean? 515 00:29:53.880 --> 00:29:55.799 Yeah, I can send you once. 516 00:29:56.319 --> 00:29:58.920 And you know we said we already established back one 517 00:29:59.000 --> 00:30:01.200 for one, you know, so I can literally send you 518 00:30:01.319 --> 00:30:03.839 calu uh. If I want to send you one lera 519 00:30:04.240 --> 00:30:06.799 on a tradition on a regular bank, maybe with the 520 00:30:06.839 --> 00:30:09.400 exception of some of the banks who use maybe for 521 00:30:09.640 --> 00:30:13.200 marketing money to sort of do some suft landing, you know, 522 00:30:13.319 --> 00:30:15.640 for lower fees, et cetera. If I wanted to send you, 523 00:30:15.960 --> 00:30:18.039 you know, money with with the with the regular big 524 00:30:18.119 --> 00:30:21.079 banks as a transaction fee involved, right, But if I 525 00:30:21.119 --> 00:30:23.720 want to send you a stable coin five let's say five. 526 00:30:23.640 --> 00:30:26.680 Nra for example, it's it will cost me. 527 00:30:27.000 --> 00:30:30.759 A fraction, especially maybe on some some blockchains like bands 528 00:30:30.920 --> 00:30:33.319 for example, it will cost you like a fraction of 529 00:30:33.400 --> 00:30:34.400 a fraction of a nira. 530 00:30:34.480 --> 00:30:35.480 It's almost negligible. 531 00:30:36.440 --> 00:30:37.200 So that's what I said. 532 00:30:37.240 --> 00:30:39.359 Without transactional feees like, you don't even know that anything 533 00:30:39.400 --> 00:30:41.599 has happened. So what is the value of a fractional 534 00:30:41.640 --> 00:30:44.319 fraction of vannira? Those things are just happening on chain, 535 00:30:44.759 --> 00:30:47.680 ensuring that the money value can move from one person 536 00:30:48.039 --> 00:30:48.599 to the other. 537 00:30:48.960 --> 00:30:52.359 We don't know. Yeah, without anything doubts. 538 00:30:52.640 --> 00:30:54.680 You know when you see things that happen with bankman, 539 00:30:54.720 --> 00:30:56.279 you send money and maybe it's. 540 00:30:57.160 --> 00:30:58.000 I'll give you an example. 541 00:30:58.039 --> 00:31:00.480 I ordered something on one of the food venus you know, 542 00:31:00.880 --> 00:31:05.240 back in Nigeria, and the food did not arrive. My 543 00:31:05.400 --> 00:31:07.039 money did not come back to me, and I kept 544 00:31:07.119 --> 00:31:09.400 falling back and if I have some point, it just 545 00:31:09.440 --> 00:31:11.519 became cruise, like I just tell them, oh, you put 546 00:31:11.599 --> 00:31:14.039 promised next week, it's now six months, and I kept 547 00:31:14.079 --> 00:31:16.559 going to like eventually forget about it. If we have 548 00:31:16.839 --> 00:31:19.359 an ecosystem that already leverages table coins like this, it 549 00:31:19.359 --> 00:31:23.559 would be instantaneous refund. It will be dog what I mean, 550 00:31:23.599 --> 00:31:25.160 it's just a matter of okay when you see back 551 00:31:25.160 --> 00:31:27.559 to the owner and it just goes back, no issues, 552 00:31:27.759 --> 00:31:30.119 none of that stuff. In sant you cannot you cannot 553 00:31:30.119 --> 00:31:31.880 even argue and say the money is not in my 554 00:31:31.960 --> 00:31:34.240 account because the power of stable coins is we can 555 00:31:34.319 --> 00:31:35.480 tell where the money is at every. 556 00:31:35.359 --> 00:31:37.240 Point in time. So there's nothing like that. 557 00:31:37.279 --> 00:31:39.400 I don't hit my account. We can't see that it 558 00:31:39.400 --> 00:31:42.319 does hit the account. And it had hit it instantaneously, 559 00:31:42.839 --> 00:31:44.920 you know. So I'll just keep quiet here so. 560 00:31:45.000 --> 00:31:49.359 That let me ask the web of five guys on 561 00:31:49.400 --> 00:31:51.599 the space with them. They have questions. Let's let's take 562 00:31:51.640 --> 00:31:54.000 that questions. We'll come back to my I'll not really 563 00:31:54.039 --> 00:31:58.119 talk about the regulatory space again, your sec relationship, but 564 00:31:58.200 --> 00:32:01.440 let me get stock Bubbles in here. With stock Bubbles Mohammed, 565 00:32:02.000 --> 00:32:06.599 We've got fund show Michael and James. So stock Bubbles, 566 00:32:06.599 --> 00:32:08.720 please go ahead with your question. How are you doing today? 567 00:32:08.759 --> 00:32:08.880 Sir? 568 00:32:13.720 --> 00:32:14.960 Very fine? Can you hear me? 569 00:32:15.039 --> 00:32:15.319 Please? 570 00:32:15.519 --> 00:32:17.759 Yes, I can, If you speak up, that would be perfect. 571 00:32:17.839 --> 00:32:21.519 Go ahead, sir, okay, thank you very much. I think 572 00:32:22.319 --> 00:32:26.559 the guys are doing a very great job. But I 573 00:32:26.720 --> 00:32:30.839 wanted to ask about the capital markets and go Now, 574 00:32:30.960 --> 00:32:34.759 maybe I'm jumping the gun. Why I actually got a 575 00:32:34.839 --> 00:32:38.680 little bit late. But maybe this has been discussed previously, 576 00:32:38.839 --> 00:32:42.440 but just to make up if it has, for my safeties. 577 00:32:43.319 --> 00:32:47.640 It hasn't. That's a fantastic question. So, I mean, how 578 00:32:47.720 --> 00:32:49.400 does this plug into you if I want to buy 579 00:32:49.599 --> 00:32:53.000 shares and all that, if I'm in New York and 580 00:32:53.039 --> 00:32:55.519 I want to invest in Yeah, I mean I don't 581 00:32:55.519 --> 00:32:58.599 want to take the question right, How does this plugging 582 00:32:58.720 --> 00:33:01.400 enough how we can buy from the market, But it's 583 00:33:01.519 --> 00:33:04.599 the second is involved, so clearly there has to be 584 00:33:04.640 --> 00:33:07.279 a leg this in the in the stock and captoin 585 00:33:07.279 --> 00:33:09.920 market space, right, So we want to take that answer. Please, 586 00:33:11.480 --> 00:33:12.240 thank you very much. 587 00:33:12.799 --> 00:33:16.720 Okay, okay, thank you very much. I think I can 588 00:33:16.839 --> 00:33:17.640 come in here with that. 589 00:33:19.880 --> 00:33:25.359 Yes, yes, yes, yeah, I was going to ask you 590 00:33:25.440 --> 00:33:27.880 a question that you can answer. Use my questions basically 591 00:33:27.920 --> 00:33:29.960 give your answer as well. Just give us maybe the 592 00:33:30.079 --> 00:33:32.599 leave of the land. How you guys got this sect 593 00:33:32.680 --> 00:33:36.000 to more or less approve? Give us that seculationship right 594 00:33:36.079 --> 00:33:38.599 only use words or not from your from your tip. 595 00:33:38.880 --> 00:33:42.319 Give us the seculationship. Define to us how you are 596 00:33:42.480 --> 00:33:46.400 different from the bank relationship banks. I'm not sure they 597 00:33:46.440 --> 00:33:48.920 are still doing crypto for now, I'm not sure, but 598 00:33:49.039 --> 00:33:52.079 you guys are sick. Explain that relationship to us. Then, 599 00:33:52.119 --> 00:33:54.000 if you can please answer the question about the captain 600 00:33:54.000 --> 00:33:56.079 market space, that would be wonderful. Did you go ahead? 601 00:33:57.519 --> 00:33:57.720 Yeah? 602 00:33:57.799 --> 00:33:58.039 Thank you. 603 00:33:58.559 --> 00:34:02.839 So you know stable coin is a highly highly highly 604 00:34:02.960 --> 00:34:08.400 regulated an instrument and is an innovation, but it's completely 605 00:34:08.519 --> 00:34:12.360 regulated in most countries. Yes, other people play with it 606 00:34:12.800 --> 00:34:14.599 without relevant regulation. 607 00:34:15.079 --> 00:34:18.280 We chose to do otherwise, we choose. 608 00:34:18.119 --> 00:34:21.199 To actually make sure that we'll follow through the regulatory 609 00:34:21.920 --> 00:34:27.920 requirements and kalo this this idea and this whole innovation 610 00:34:28.079 --> 00:34:30.840 started since twenty twenty one, and also tell you that 611 00:34:31.079 --> 00:34:34.639 it's been a long journey coming. And the simple reason 612 00:34:34.719 --> 00:34:38.679 why we're following that trajectory is because we're somehow within 613 00:34:38.760 --> 00:34:43.199 the consult on that form and the companyization engen. We're 614 00:34:43.360 --> 00:34:44.239 very strong. 615 00:34:44.079 --> 00:34:46.960 Around crypto compliance, crypto. 616 00:34:46.679 --> 00:34:50.639 Rics, cryptoics, mitigation and all those issues, and we also 617 00:34:50.760 --> 00:34:55.760 therefore felt we cannot take any step without getting the regulators, 618 00:34:56.599 --> 00:34:59.039 not for them to understand it. So I jointly started 619 00:34:59.079 --> 00:35:03.440 actually with the central work and we went through different records. 620 00:35:03.760 --> 00:35:07.159 Since twenty twenty one, we're doing education upon education, you know, 621 00:35:07.239 --> 00:35:10.760 we're sharing notes, we're being asked questions on how this 622 00:35:10.960 --> 00:35:15.239 will impact and we're still doing that currently. The monetary 623 00:35:15.320 --> 00:35:20.039 policy we're going to affect, the current activities within the 624 00:35:20.079 --> 00:35:24.679 country and all that and then comes in error in 625 00:35:24.760 --> 00:35:28.639 twenty twenty one. So when iner I came, we also felt, okay, 626 00:35:29.119 --> 00:35:31.840 I think the country is speaking digitally like we're trying 627 00:35:31.880 --> 00:35:35.480 to push. But the only different here that we saw 628 00:35:35.760 --> 00:35:39.679 because again we are we are more of technology entrepreneurs. 629 00:35:39.719 --> 00:35:42.679 We're blockchain and to sales, we're building teams around Web three, 630 00:35:42.719 --> 00:35:47.000 which is blocking enabled, and we believe that. Okay, as 631 00:35:47.239 --> 00:35:49.719 great as the Inner ra is, our own is a 632 00:35:49.760 --> 00:35:52.920 bit different. So we're speaking to different audience, but we 633 00:35:53.000 --> 00:35:56.880 can compliment each other. And so for Inner ra is 634 00:35:56.920 --> 00:36:00.719 to make the two mans make payments easily within and 635 00:36:02.000 --> 00:36:05.039 make it fluide based on what they plant at the 636 00:36:05.079 --> 00:36:08.239 Central Bank. And we said, okay, I think it is great. 637 00:36:08.400 --> 00:36:11.920 We are doing ours hours just a regulator stable coin, 638 00:36:12.320 --> 00:36:14.880 but we are going to be in on public blockchain. 639 00:36:15.039 --> 00:36:18.639 So today, for example, we're on asset chain, we're on 640 00:36:18.840 --> 00:36:23.159 Band two blockchain, we're on Polygon, we are on and 641 00:36:23.559 --> 00:36:25.960 based network. You know, so all these we are not. 642 00:36:26.960 --> 00:36:30.239 These are all public blockchain. So a way to distinguish 643 00:36:30.519 --> 00:36:32.920 the two, because again I've seen a lot of questions saying, oh, 644 00:36:33.000 --> 00:36:35.079 these are another version of error, and I said, look, 645 00:36:35.119 --> 00:36:39.079 they don't have any similarity. They're drilling the different ecosystem 646 00:36:39.320 --> 00:36:41.840 where they can compliment each other. So and in giving 647 00:36:41.920 --> 00:36:44.079 that example, I just I would take you back to 648 00:36:44.199 --> 00:36:47.840 those days where when you're working, you possibly in your 649 00:36:47.920 --> 00:36:51.360 corporate company wherever it is you're. 650 00:36:51.199 --> 00:36:52.719 Not allowed to touch the Internet. 651 00:36:52.840 --> 00:36:54.800 For some of us that are holding enough of those days, 652 00:36:54.960 --> 00:36:57.320 you only work within the intranet of the company that's 653 00:36:57.320 --> 00:37:00.199 set up. By any chance you go touch the internet 654 00:37:00.280 --> 00:37:02.639 to quib sap could be quated, you know, because I 655 00:37:02.679 --> 00:37:05.280 don't believe that the Internet is what is good for 656 00:37:05.440 --> 00:37:08.159 any corporate information to go on the Internet and it's public, 657 00:37:08.480 --> 00:37:10.639 and I think we're back to that cycle, and that 658 00:37:10.800 --> 00:37:13.239 is why we're getting a lot of central bank rolling 659 00:37:13.280 --> 00:37:16.639 out what all the sibity, central and digital currencies to 660 00:37:16.760 --> 00:37:20.760 make sure that hey, don't touch this public blockchain, Bitcoin, Ethilium, 661 00:37:21.000 --> 00:37:24.079 all those ones, or we don't know what happens there. 662 00:37:24.079 --> 00:37:26.400 We don't want people's information and everything to be on 663 00:37:26.559 --> 00:37:29.679 chain and all all those issues. So we or rather 664 00:37:29.800 --> 00:37:33.000 we do what we call a private permission blockchain, which 665 00:37:33.079 --> 00:37:35.639 i'my make to say is like intranet of those days. 666 00:37:36.119 --> 00:37:39.159 So what it means is that the general public cannot 667 00:37:39.360 --> 00:37:44.119 interact with it, you know, the crypto natives the cryptocurrency 668 00:37:44.159 --> 00:37:46.039 and to say, the people that are trading, we'll not 669 00:37:46.079 --> 00:37:48.960 be able to interact with those CBDC because it is 670 00:37:49.079 --> 00:37:52.159 only known, issued and controlled by the central bank, and 671 00:37:52.280 --> 00:37:55.519 so we think if we have a handshake so we 672 00:37:55.679 --> 00:37:58.639 can use the innerror to back the issues of our table, 673 00:37:58.760 --> 00:38:02.079 kinder will go public, so it's complimentary relationship. As this grows, 674 00:38:02.480 --> 00:38:04.960 the Eira will go. And that's where we were at 675 00:38:05.000 --> 00:38:08.840 that time. But the in era actually is abuse slow 676 00:38:09.119 --> 00:38:10.920 and we again we're private company. 677 00:38:11.000 --> 00:38:11.559 We moved on. 678 00:38:13.440 --> 00:38:16.679 With our innovation and what albeit it. We need to 679 00:38:16.760 --> 00:38:18.920 carry them along, and of course we carried off. We 680 00:38:19.000 --> 00:38:23.880 carried them along and everything, and we had this understanding 681 00:38:24.000 --> 00:38:27.159 to say we think the country issue allowed the banks 682 00:38:27.440 --> 00:38:31.320 to actually internal with digital asset because that is where 683 00:38:31.519 --> 00:38:34.360 we are headed. So if it, for example, now a 684 00:38:34.519 --> 00:38:38.000 US backstable coin has been there since more than ten 685 00:38:38.119 --> 00:38:41.159 years now, and so they've learned, they've done a lot 686 00:38:41.199 --> 00:38:44.599 of activities, they've done some mistakes, they've larned, they've captured. 687 00:38:44.599 --> 00:38:48.519 They've also been very successful in donalizing the global economy 688 00:38:48.599 --> 00:38:54.599 furthermore in the cryptocurrency ecosystem. But what the African regulators 689 00:38:54.639 --> 00:38:55.679 have done is to shut. 690 00:38:55.599 --> 00:38:58.679 Us around, stopping us from that race. 691 00:38:59.079 --> 00:39:02.159 Right, So it is a race, and imagine all of 692 00:39:02.320 --> 00:39:04.840 us globally, we're on the mark on your mask set 693 00:39:05.440 --> 00:39:11.480 and then the blue the whistle and everybody went up 694 00:39:11.559 --> 00:39:13.840 and the Africana related to held the lag of every 695 00:39:14.239 --> 00:39:16.039 every other person on that on the race. 696 00:39:16.119 --> 00:39:19.079 And we're stie here ten years after. We're the first. 697 00:39:19.239 --> 00:39:22.519 Maybe if I'm not mistaken, that is running out a 698 00:39:22.880 --> 00:39:26.639 national stable point. So Central Bank said, hey, okay, we 699 00:39:26.760 --> 00:39:28.760 think it's okay with thin it makes sense, but we 700 00:39:29.199 --> 00:39:31.880 will refer you to SEC and as after three years 701 00:39:31.920 --> 00:39:34.000 Johnny last year they refer us to SET to say, 702 00:39:34.119 --> 00:39:36.960 go to Set and continue your journey. But we we 703 00:39:37.159 --> 00:39:39.280 understand and we will be working with you to see 704 00:39:39.360 --> 00:39:42.400 what happens. And went to SEK and so also of 705 00:39:42.480 --> 00:39:45.639 course looked at it. We defended what we're trying to 706 00:39:45.719 --> 00:39:48.159 do and say we're going to have different features depending 707 00:39:48.239 --> 00:39:51.440 on the use cases. And I like the question that 708 00:39:51.760 --> 00:39:54.320 will asks about what how do you see the interplay 709 00:39:54.840 --> 00:39:58.920 in the capital market for example, so in capital market 710 00:40:00.360 --> 00:40:02.039 money is digital. 711 00:40:02.239 --> 00:40:03.840 It makes that two men very flute. 712 00:40:03.920 --> 00:40:06.239 I need to make it to put up the capitol 713 00:40:06.280 --> 00:40:09.760 market to everybody outside Nagera. So today I can't buy 714 00:40:09.840 --> 00:40:10.400 any shares. 715 00:40:10.840 --> 00:40:11.280 I need a. 716 00:40:11.280 --> 00:40:14.280 Broker in between. And the broker will ask you if 717 00:40:14.320 --> 00:40:16.039 you have a bank account, you have to transfer the 718 00:40:16.119 --> 00:40:18.559 money to him. You cannot just buy shares. But today 719 00:40:18.599 --> 00:40:22.519 on different global platforms with the digital currency, with the 720 00:40:22.599 --> 00:40:25.400 US dollar digital currency, you could buy shares of different 721 00:40:26.000 --> 00:40:28.440 companies in the US. So we believe that it's going 722 00:40:28.519 --> 00:40:31.360 to be a kind of a step we get there. 723 00:40:31.559 --> 00:40:34.360 I think we get there where or we're starting off 724 00:40:34.400 --> 00:40:38.840 with just trading on digital Asside has changes license in Nigeria, 725 00:40:39.360 --> 00:40:41.800 so meaning what we're trying to change there is that 726 00:40:42.079 --> 00:40:44.960 you should be able to buy your bitcoin, buy your italion. 727 00:40:45.079 --> 00:40:47.320 We have to necessarily touching any dollar if you have 728 00:40:47.400 --> 00:40:49.440 a night rate because you have a c eng and 729 00:40:49.519 --> 00:40:53.079 so it's going to be c eng and peer to bitcoin, 730 00:40:53.199 --> 00:40:56.360 c ENGM, peer to Italion, c eng and peer to polygon. 731 00:40:56.760 --> 00:40:59.800 You know, all those issues to your magic and all 732 00:40:59.840 --> 00:41:02.599 the so you could be able to completely just transact 733 00:41:03.000 --> 00:41:04.239 on those things with your error. 734 00:41:04.320 --> 00:41:04.880 So if you may. 735 00:41:05.320 --> 00:41:08.239 And what we're doing is NIRA globalized. You know, you're 736 00:41:08.320 --> 00:41:11.880 not becoming global. So I can be in Pakistan, for example, 737 00:41:11.880 --> 00:41:14.400 I can be in Canada and I have narraved my 738 00:41:14.440 --> 00:41:16.400 wallet and can still do exactly what I can. 739 00:41:16.599 --> 00:41:19.000 Be able to do with in Nigeria, you know. 740 00:41:19.159 --> 00:41:21.320 So, and those are the those are the those are 741 00:41:21.320 --> 00:41:23.840 the things and are different use cases are my Puelague 742 00:41:23.840 --> 00:41:27.679 has spoken on different use cases. So imagine people doing 743 00:41:28.440 --> 00:41:33.480 international trade business to build business, payment and treasury management properly, 744 00:41:33.639 --> 00:41:37.280 which I believe Victors spoke to, but a lot of 745 00:41:37.360 --> 00:41:41.559 decongloomers and companies able to reportray their funds and it's difficult. 746 00:41:41.599 --> 00:41:46.239 So you can use those digital naira to handshape. 747 00:41:45.760 --> 00:41:49.119 Whichever other stable coin is that we have elsewhere and 748 00:41:50.000 --> 00:41:52.280 that those issues can be very similar. So there are 749 00:41:52.280 --> 00:41:55.039 a lot of use cases and there's a lot of 750 00:41:56.039 --> 00:41:59.920 efficiency that is brought in. There's a lot of complexity 751 00:42:00.079 --> 00:42:01.800 that is involved with this current system. 752 00:42:01.880 --> 00:42:03.840 Are going to be at the pass if this is 753 00:42:03.920 --> 00:42:04.880 completely okay? 754 00:42:05.400 --> 00:42:07.599 Well, but just to be direct, right, So if I 755 00:42:07.679 --> 00:42:10.760 want to buy shares today, right again, what I do 756 00:42:10.960 --> 00:42:13.000 is I take my naira, either I write a check 757 00:42:13.159 --> 00:42:16.559 or I transfer money to the stock broker. So is 758 00:42:16.639 --> 00:42:18.360 there going to be a way that I can do 759 00:42:18.559 --> 00:42:22.400 this by just getting money in stable coins and pain 760 00:42:22.480 --> 00:42:25.280 the broker? It's second involved in this in any way. 761 00:42:25.480 --> 00:42:28.760 So Carlo, So this is it. So we're talking to 762 00:42:29.079 --> 00:42:30.159 two different rails. 763 00:42:31.400 --> 00:42:34.039 So what we're having now is a new rail, a 764 00:42:34.159 --> 00:42:37.559 new technology that will power the next generation of payments 765 00:42:37.880 --> 00:42:39.760 and finance, which is the blockchain. 766 00:42:40.159 --> 00:42:41.800 So what we have today is. 767 00:42:41.800 --> 00:42:45.320 The traditional rail of the normal banking swift system that 768 00:42:45.400 --> 00:42:48.159 had been there donkey years, right, So it's not going 769 00:42:48.199 --> 00:42:50.519 to be accomplition. So one thing we have to be 770 00:42:50.679 --> 00:42:54.519 able to see, which I think I think the stock 771 00:42:54.599 --> 00:42:57.360 market is talking about it is to digitize. 772 00:42:56.800 --> 00:42:59.880 That so you don't need you digitiz all tho. 773 00:42:59.760 --> 00:43:03.800 Stuff market and make sure that all shares are on digitized. 774 00:43:03.840 --> 00:43:05.599 If you mean then maybe I use the word in 775 00:43:05.639 --> 00:43:08.119 the blockchain, it's token ize, so you have tokenice shares. 776 00:43:08.480 --> 00:43:09.559 So when those who ting. 777 00:43:09.480 --> 00:43:14.599 Are tokenized and you have a digitized stock market trading platforms, 778 00:43:14.719 --> 00:43:17.320 then digital currency is naturally the money that have to 779 00:43:17.480 --> 00:43:21.039 play that role and not the normal plantation of Yet if. 780 00:43:20.920 --> 00:43:23.960 You get gotcha stock bubbles? Did I answer your question? 781 00:43:24.079 --> 00:43:31.679 You have a follow up stock bubble? 782 00:43:32.719 --> 00:43:32.960 Okay? 783 00:43:33.239 --> 00:43:36.519 Well from what I from what I understand, I think 784 00:43:38.519 --> 00:43:42.519 it's ongoing, so there's no structure yet for that. On 785 00:43:42.639 --> 00:43:44.719 our path, I was thinking it would be like a 786 00:43:44.760 --> 00:43:48.920 payment option that will just enable you know, buying shares 787 00:43:49.079 --> 00:43:51.920 and engaging with capitol markets in general. 788 00:43:52.119 --> 00:43:54.840 Having this in my book, from what I understand. 789 00:43:54.880 --> 00:43:58.400 I think it's saying that c engine helps to deepening 790 00:43:58.480 --> 00:44:04.719 financial inclusion, uh to, and it leads towards the cryptosavy crowd. 791 00:44:06.079 --> 00:44:09.000 If I understand, it's that's that's the current states for now. 792 00:44:09.400 --> 00:44:12.599 Correct. For what I'm hearing him say is that for now, 793 00:44:12.920 --> 00:44:15.239 that's where they are for now. But you know they've 794 00:44:15.400 --> 00:44:18.800 got this sect seconds behind them if you want to 795 00:44:18.840 --> 00:44:21.000 you to say that way, and for now they're starting 796 00:44:21.119 --> 00:44:24.280 like this and hopefully they can expand and get more adoption. 797 00:44:24.440 --> 00:44:26.599 That's what I hear him saying, which for now, I 798 00:44:26.639 --> 00:44:31.639 will take that from him. Mohammed him. You've got the floor. 799 00:44:33.320 --> 00:44:36.920 Yeah, thank you, guys. The questions are. 800 00:44:39.800 --> 00:44:41.480 Hear me, yes, second, lease go ahead. 801 00:44:44.599 --> 00:44:50.480 My quass are you are just faism in form? So 802 00:44:50.599 --> 00:44:54.440 you know all these figures with nowhere I stand you. 803 00:44:55.400 --> 00:45:01.159 So if they're like fiving number, fight is a lot man, 804 00:45:01.360 --> 00:45:03.599 maybe because there's tools that I can fall and catch up. 805 00:45:07.280 --> 00:45:10.239 Okay, can I just make it free for it? 806 00:45:12.599 --> 00:45:13.039 I thank you. 807 00:45:14.719 --> 00:45:19.039 We're seeing similar en devils, you know with error or 808 00:45:19.320 --> 00:45:22.679 the last peak kind of like explain why you know 809 00:45:22.800 --> 00:45:25.000 they're not exactly the same thing, and they put the 810 00:45:25.079 --> 00:45:28.719 complementary But if that didn't fly, you know, Are you 811 00:45:28.800 --> 00:45:32.079 saying that the tech has changed so much? And you 812 00:45:32.159 --> 00:45:35.960 know like and see c ENG and won't in the 813 00:45:36.079 --> 00:45:40.519 same thing. That's the first one. When if what happens 814 00:45:41.079 --> 00:45:44.039 to the narrow because except you're going to peg se 815 00:45:44.159 --> 00:45:47.480 eng and what happens to the narrow against the other 816 00:45:47.519 --> 00:45:51.239 in terms of value or exchange it if you will 817 00:45:51.880 --> 00:45:58.280 happens to CEng and then it goes to doesn't have 818 00:45:58.360 --> 00:46:05.840 followed that only full adaptation but locally and internationally you know, 819 00:46:07.079 --> 00:46:09.719 can make the coin fly? And if so, how can 820 00:46:09.800 --> 00:46:14.360 these be achieved? Then about the transactionencies? No one transfers 821 00:46:15.079 --> 00:46:20.039 to anyone. People have even transferred wanting these days. And 822 00:46:20.159 --> 00:46:24.199 the larger the amounts, the more negligible charge would be. 823 00:46:25.039 --> 00:46:29.039 And banks have an edge in the sense that they 824 00:46:29.119 --> 00:46:35.519 have customer relations. How can they see engine you know, 825 00:46:35.800 --> 00:46:42.800 like penetrate this because you're going to have the scenario 826 00:46:42.840 --> 00:46:47.559 where you can see access band issue in elcs, you know, 827 00:46:48.480 --> 00:46:50.679 and will be out. 828 00:46:51.960 --> 00:46:53.679 Trade finance loans or whatever. 829 00:46:53.719 --> 00:46:59.320 And they rigs they're using see engine rates you know, and. 830 00:47:01.119 --> 00:47:05.679 Is bent back engine or and how by giving essembly 831 00:47:05.719 --> 00:47:10.280 losing engine? Sorry, are you saying this is a possibility 832 00:47:10.280 --> 00:47:13.679 to this level of administration. That's a good question, thank. 833 00:47:13.519 --> 00:47:16.719 You, A great question. Yeah again, who wants to take 834 00:47:16.760 --> 00:47:19.039 it up? I mean he asked the three. I mean 835 00:47:19.079 --> 00:47:23.800 the one are transfer, the efficiency of the whole system. 836 00:47:23.800 --> 00:47:24.960 Who wants to take it up? If you guys can 837 00:47:25.000 --> 00:47:27.159 pick it up, that's fine, But that good questions. 838 00:47:28.840 --> 00:47:30.480 Are you able to do like a recap? 839 00:47:30.519 --> 00:47:32.480 Because I don't know, maybe it's just from my end, 840 00:47:32.559 --> 00:47:34.199 I could already hear anything. 841 00:47:34.480 --> 00:47:36.159 It was the voice was clipping. 842 00:47:37.400 --> 00:47:41.519 So if you're able to help, really be nice. 843 00:47:41.599 --> 00:47:42.599 I can hear you very well. 844 00:47:43.679 --> 00:47:45.800 I heard him ask no but one about the one 845 00:47:45.880 --> 00:47:48.360 that transform. I'm very curious about that. He said that 846 00:47:48.400 --> 00:47:50.719 no one transfers one there because I think the defeats 847 00:47:50.760 --> 00:47:54.719 also quick catch up. Then he talked about the stability. 848 00:47:54.880 --> 00:47:57.239 I e's one for one if not writ is not stable? 849 00:47:57.280 --> 00:47:58.960 The same question, I act, and what happens to the 850 00:47:59.000 --> 00:48:01.719 other leg because it's legs. Then the tech question was 851 00:48:02.280 --> 00:48:03.599 do you want to you want to go by it again? 852 00:48:05.039 --> 00:48:05.280 You know what? 853 00:48:05.360 --> 00:48:06.199 There was a bit breaker. 854 00:48:06.400 --> 00:48:11.480 Okay, hope, yeah, go for it. 855 00:48:12.480 --> 00:48:13.000 The first one. 856 00:48:14.280 --> 00:48:16.519 The first one is like, like I said, we've seen. 857 00:48:16.400 --> 00:48:19.840 Similar endeavors like the in error and the last explain 858 00:48:19.920 --> 00:48:20.880 why they're not the same. 859 00:48:21.320 --> 00:48:21.519 You know. 860 00:48:22.440 --> 00:48:25.320 The question now is as the tech changed that much, 861 00:48:25.400 --> 00:48:27.880 you know that we are certain that it wouldn't offer 862 00:48:27.960 --> 00:48:29.360 the same fate as the first question. 863 00:48:29.760 --> 00:48:32.239 The second question is if what happens the. 864 00:48:32.760 --> 00:48:36.320 Neror happens to the ability issue happens with Engine and 865 00:48:36.559 --> 00:48:41.360 then obviously only if full adaptation you know, you know 866 00:48:42.400 --> 00:48:47.400 locally and internationally would would you know, we lead to 867 00:48:48.000 --> 00:48:50.559 the success of the scheme else but I wouldn't read 868 00:48:50.639 --> 00:48:53.079 us just reliable on the neror. 869 00:48:53.159 --> 00:48:54.880 And the talk question is about. 870 00:48:54.679 --> 00:48:57.800 The transaction season or you know, I don't say yeah 871 00:48:57.800 --> 00:48:59.519 if you got as well as as one ever and 872 00:48:59.599 --> 00:49:03.039 not get church, but no transfers wllever and the higher 873 00:49:03.159 --> 00:49:04.559 the transfer. 874 00:49:04.360 --> 00:49:06.280 The more negligible charge. 875 00:49:07.159 --> 00:49:07.360 You know. 876 00:49:07.519 --> 00:49:10.800 And in this regard, banks have or seemed to have 877 00:49:10.920 --> 00:49:13.039 an edge in the way of customer relations. 878 00:49:13.400 --> 00:49:15.280 You can see Engine change. 879 00:49:15.039 --> 00:49:17.440 This in terms that you know you see access bank, 880 00:49:17.880 --> 00:49:22.239 you know, giving loans to your customers in c Engine 881 00:49:22.360 --> 00:49:26.159 and quoting you know else I fees in Sea Engine 882 00:49:26.199 --> 00:49:29.440 as opposed to the never is that is that level 883 00:49:29.519 --> 00:49:33.440 of penetration in the financial sector possible. In addition to 884 00:49:33.599 --> 00:49:35.400 stock spin priced in the engine. 885 00:49:35.840 --> 00:49:37.079 Thank you all right? 886 00:49:37.239 --> 00:49:37.760 Did you get that? 887 00:49:38.760 --> 00:49:39.000 That was? 888 00:49:43.320 --> 00:49:45.960 I think they can they can take a start, I. 889 00:49:46.760 --> 00:49:49.920 Go, so I'll go with the tech. 890 00:49:51.760 --> 00:49:57.079 So so so there's there's this difference between private blockchain. 891 00:49:57.159 --> 00:50:00.320 I think this education and we're just starting off at 892 00:50:00.360 --> 00:50:01.440 the time. 893 00:50:01.880 --> 00:50:02.559 All we get it. 894 00:50:03.239 --> 00:50:06.320 So there's different between what we call a private blockchain 895 00:50:07.119 --> 00:50:10.880 and a public blockchain. So a private blockchain is a 896 00:50:10.920 --> 00:50:13.920 blockchain that is controlled by an entity. They all see 897 00:50:14.119 --> 00:50:19.000 themselves and they're controlling themselves and so again depending on 898 00:50:19.199 --> 00:50:22.639 the cryptonitis, and they seem not to trust it that 899 00:50:22.840 --> 00:50:26.480 much because they want to see. The word public blockchain 900 00:50:26.599 --> 00:50:31.239 offers is that openness, that transparency, people ability to actually 901 00:50:31.400 --> 00:50:37.800 see transactions as they're happening. So there's no similarity, like 902 00:50:37.880 --> 00:50:43.039 I said, between they're actually completely different. So one the 903 00:50:43.159 --> 00:50:47.360 different here is one the issue the issue. One is 904 00:50:47.800 --> 00:50:52.440 by the central bank. The other one is by private company. Secondly, 905 00:50:52.760 --> 00:50:55.559 the technology that parties are not the same thing. One 906 00:50:55.719 --> 00:50:58.360 is public, I mean the private blockchain. One is public 907 00:50:58.440 --> 00:51:01.360 that have a lot of the loopers and is contributing 908 00:51:01.440 --> 00:51:05.239 to its robustness and order. So coming to technology, like 909 00:51:05.400 --> 00:51:07.920 you ask whether the technology is different years it is different, 910 00:51:08.280 --> 00:51:10.480 and we use suffer the same fate. The promoters are 911 00:51:10.480 --> 00:51:13.239 completely different depending on the trust and how we're able 912 00:51:13.280 --> 00:51:15.960 to push. So that and is part of this to 913 00:51:16.039 --> 00:51:19.239 make sure that people just understand what we're doing. I 914 00:51:19.320 --> 00:51:21.599 think Victor was trying to talk about people can easily 915 00:51:21.800 --> 00:51:24.079 transfer when there are not in that context, in the 916 00:51:24.159 --> 00:51:28.719 context that you can actually do transfer with completely low 917 00:51:28.840 --> 00:51:30.639 and negligible fee, you. 918 00:51:30.679 --> 00:51:31.760 Know at the end of the day. 919 00:51:31.840 --> 00:51:34.360 So that's what you're just trying to explain why talking 920 00:51:34.719 --> 00:51:37.679 when is not literally the same people will transfer when 921 00:51:37.880 --> 00:51:39.840 I can bank actually use it to deep in. 922 00:51:41.519 --> 00:51:42.800 Maybe their loans and whatever. 923 00:51:42.920 --> 00:51:45.760 So today we have the equivalents of banks on chain 924 00:51:46.119 --> 00:51:49.360 and they are called decentralized finance. And so for people 925 00:51:49.440 --> 00:51:52.320 that are crypto natives, that people that understand crypto properly, 926 00:51:52.440 --> 00:51:54.400 we hardly go to bank to go row money. They 927 00:51:54.400 --> 00:51:58.159 will actually go to decentralize finance peratform to forrow their money. 928 00:51:58.440 --> 00:52:00.760 So banks whill come there and money to use. This 929 00:52:00.960 --> 00:52:02.960 not the it's not the banks in orders, it's not 930 00:52:03.039 --> 00:52:06.039 the units you're not. The empty money is actually the 931 00:52:06.039 --> 00:52:08.760 cryptocurrensis and the only noira that will be residing in 932 00:52:08.840 --> 00:52:11.119 that rail is going to be seeing GM now and 933 00:52:11.320 --> 00:52:14.480 so that's what we're saying is complimentary. Depending as the 934 00:52:14.559 --> 00:52:17.320 time and space evolves, we see a lot of these 935 00:52:17.400 --> 00:52:19.280 activities getting official moment. 936 00:52:20.440 --> 00:52:23.719 Okay, perfect, Thank you so much, Thank you so much, 937 00:52:23.800 --> 00:52:27.000 thank you so much. Perfect. Yeah, questions, thank you, that's 938 00:52:27.079 --> 00:52:30.880 a fantastic answer. Let me get Michael or Michael I 939 00:52:31.000 --> 00:52:32.800 have you in here. Once you ask, I'll just drop 940 00:52:32.920 --> 00:52:35.440 you so I can add us folks, Michael, you're dead, 941 00:52:35.480 --> 00:52:37.440 and of course we'll come back. I do have a 942 00:52:37.559 --> 00:52:38.480 question for Michael. 943 00:52:38.519 --> 00:52:38.840 Go for it. 944 00:52:40.039 --> 00:52:43.360 Okay, thank you very much, and yes, I can go ahead. 945 00:52:44.320 --> 00:52:49.000 Okay, I have some questions and some remark to make 946 00:52:49.079 --> 00:52:50.599 us a bring your Marx in our novel. 947 00:52:51.880 --> 00:52:53.800 The questions, I'm just some purchasing wants. 948 00:52:55.480 --> 00:52:58.400 I was saying, when you're in fact about around is 949 00:52:58.480 --> 00:53:01.920 that this engine I don't know about generally when the 950 00:53:02.519 --> 00:53:06.320 bluction took on the programmentcous that can't use that pos So. 951 00:53:06.360 --> 00:53:12.719 We have by what probi Michael, Michael, your audios has 952 00:53:12.760 --> 00:53:15.400 a break in that. Can you fix the audio real quick? 953 00:53:19.719 --> 00:53:20.599 Are you clearing now? 954 00:53:20.760 --> 00:53:20.920 Yes? 955 00:53:21.039 --> 00:53:21.599 Please go ahead? 956 00:53:22.559 --> 00:53:25.440 Okay, So when you was talking about from being programmed 957 00:53:25.440 --> 00:53:27.840 about this engine and being programmed with that. We can 958 00:53:27.920 --> 00:53:32.320 be used across defied protocose blockshing protocols in that for example, 959 00:53:32.320 --> 00:53:35.079 I'm creating a blocking kit and maybe in the game 960 00:53:35.119 --> 00:53:38.320 you end currency for performing signatural rewards. 961 00:53:38.679 --> 00:53:41.079 I can use this engine in that regard. So use 962 00:53:41.159 --> 00:53:45.400 that cross you know what I said just about having. 963 00:53:45.280 --> 00:53:48.599 Bound on shame something like that centralized applications, so you 964 00:53:48.679 --> 00:53:52.039 can use it freely. You don't need to take permission 965 00:53:52.079 --> 00:53:54.559 from anyone, So you can use it permission. Yes, if 966 00:53:54.599 --> 00:53:57.719 you're building whatever you're building, that just that. But my 967 00:53:57.920 --> 00:53:59.920 questions I will start with this first. I've just had 968 00:54:00.599 --> 00:54:03.920 them just as by stay first of all outdoors the 969 00:54:05.119 --> 00:54:07.800 company behind c ENG and make money, is it the same? 970 00:54:07.800 --> 00:54:11.400 We have stat a noted how the hold us tradery 971 00:54:11.440 --> 00:54:16.760 notes and any interests on that. While secondly, I'm considering 972 00:54:16.840 --> 00:54:20.920 the reverability of CNG and in terms in the sense 973 00:54:20.960 --> 00:54:23.920 that but I've seen stable coins like euro seeds like 974 00:54:24.039 --> 00:54:26.599 in a stable coin of the or for the Europe 975 00:54:26.840 --> 00:54:30.039 it's it's it's it really doesn't get any traction. The 976 00:54:30.119 --> 00:54:32.360 really stable coins dominance stable coins is supposed to be 977 00:54:32.719 --> 00:54:37.079 and majurely USD dominated US dominated and on. We know 978 00:54:37.199 --> 00:54:40.239 it's because the U s allies like the world's most 979 00:54:40.280 --> 00:54:42.519 popular currency and people. 980 00:54:42.440 --> 00:54:44.199 Appreciades or usage. 981 00:54:44.480 --> 00:54:47.360 So I see, and I think adoption will also be 982 00:54:47.599 --> 00:54:49.280 may also be a problem because. 983 00:54:49.360 --> 00:54:52.960 Majurely the US. The reason the US this is is really. 984 00:54:52.960 --> 00:54:55.800 Is really you know, successful, it's because it's used majurely 985 00:54:55.880 --> 00:54:59.679 in defied people trust the US. It is resilience like 986 00:54:59.800 --> 00:55:02.079 we For example, I don't trust n If I'm even 987 00:55:02.239 --> 00:55:05.599 moving my assets from it's going to let's see, still 988 00:55:05.599 --> 00:55:07.519 going up. I may not want to use the Nira 989 00:55:07.679 --> 00:55:11.920 because I don't trust the Nigeria and Nayra. Right, I 990 00:55:12.199 --> 00:55:16.519 trust to an accent rather than a move. Every other crisis, 991 00:55:16.559 --> 00:55:20.760 I would naturally want to move my assets to G two. 992 00:55:21.360 --> 00:55:22.719 Okay, well let me let me let let me let 993 00:55:22.760 --> 00:55:25.159 me let them. Let's a question. I'm not a crypto guy, right, 994 00:55:25.199 --> 00:55:27.800 I'm not a crypto guy. But we don't spend dollar 995 00:55:27.920 --> 00:55:31.159 in Nigeria. So if I want to pay I have 996 00:55:31.280 --> 00:55:33.280 a I sell a book in Nigeria. The book is 997 00:55:33.320 --> 00:55:35.559 sold in naira. No that it's not sold in dollars. 998 00:55:36.000 --> 00:55:39.199 So if I was going to buy my book in Nigeria, 999 00:55:39.320 --> 00:55:41.320 do I care eat a dollar or nayra is strong? 1000 00:55:41.400 --> 00:55:43.400 What I want to get the book and I want 1001 00:55:43.480 --> 00:55:46.559 to pay and I have naira, so usually I would 1002 00:55:46.599 --> 00:55:51.039 do naira naira to a digital maybe dollar like you've said, 1003 00:55:51.320 --> 00:55:54.480 or dollar paper. These guys are saying that I can 1004 00:55:54.599 --> 00:55:58.800 simply do naira digital naira and buy the book. Is 1005 00:55:58.960 --> 00:56:00.760 I know what I want just book? I can't pay 1006 00:56:00.840 --> 00:56:04.440 a per bill in naira. I can transper money to 1007 00:56:04.719 --> 00:56:06.599 someone to enter you can and come and see me 1008 00:56:07.000 --> 00:56:11.679 in naira. Does stability matter if it's dollar dollar? We 1009 00:56:11.880 --> 00:56:14.639 know dollar is stronger, we know euro is stronger. But 1010 00:56:15.360 --> 00:56:19.280 the efficiency argument does also play, doesn't it? 1011 00:56:21.119 --> 00:56:21.320 Yeah? 1012 00:56:21.760 --> 00:56:25.840 My My My main point is like if I'm someone 1013 00:56:25.920 --> 00:56:28.679 in Nigeria, right, I really don't want to use the 1014 00:56:28.880 --> 00:56:29.840 ng I can just use my. 1015 00:56:30.239 --> 00:56:30.920 One for example. 1016 00:56:30.920 --> 00:56:33.599 I'm not a cryptolative person, right, I'm prevent using my 1017 00:56:33.719 --> 00:56:36.239 naira do and go through the whole stress of you know, 1018 00:56:36.320 --> 00:56:39.119 trying to get education. And I also use the crypto 1019 00:56:40.480 --> 00:56:43.320 a crypto troop for example, when I can easily use 1020 00:56:43.920 --> 00:56:46.400 my naire. And I'm even coming on the street side 1021 00:56:46.440 --> 00:56:49.480 because when he said this is a negligible. I think 1022 00:56:49.599 --> 00:56:54.599 it's from a dollar perspecty transpending like ten thousand dollars, 1023 00:56:54.639 --> 00:56:57.960 I'm trans twenty ten thousand dollars naturally or over pupla 1024 00:56:58.039 --> 00:57:01.400 blocks worficially like one dollar, and that's negligible. 1025 00:57:01.480 --> 00:57:02.079 But for the. 1026 00:57:02.119 --> 00:57:05.320 Aversion of Gium user, the aversion and Gium user, that 1027 00:57:05.599 --> 00:57:08.519 the fee maybe zero and zero five dollars. But if 1028 00:57:08.559 --> 00:57:14.480 you if you multiply that with the price of of 1029 00:57:14.679 --> 00:57:18.039 instner of a dollar right now, that's about a hundred 1030 00:57:18.079 --> 00:57:21.239 era approximately, or they are about. So imagine I want 1031 00:57:21.280 --> 00:57:24.039 to spend I want to spend something like two thousand ERA, 1032 00:57:24.079 --> 00:57:27.519 and I'm being fees of five of one hundred and 1033 00:57:27.519 --> 00:57:30.559 era in my bank will show me like twin era 1034 00:57:30.960 --> 00:57:31.960 or ten ARA. 1035 00:57:32.119 --> 00:57:34.800 So I think the fee side will be largely beneficial. 1036 00:57:34.840 --> 00:57:35.559 But users were. 1037 00:57:35.519 --> 00:57:39.599 Sending millions because the fees are quite quite a big constant. 1038 00:57:40.159 --> 00:57:44.880 So I think from the used from the for the 1039 00:57:45.079 --> 00:57:48.360 for the Ninegeerian user side, I think the ce tues. 1040 00:57:48.599 --> 00:57:51.719 I said, I'm sore broad and I want to you know, 1041 00:57:51.920 --> 00:57:53.760 for Chassera, you. 1042 00:57:53.800 --> 00:57:54.880 Can't help me with that. 1043 00:57:55.400 --> 00:57:58.039 In terms of track, I don't know if you can 1044 00:57:58.079 --> 00:58:00.800 gain traction in like nobally. 1045 00:58:00.519 --> 00:58:04.880 Because okay, let's let's let um answer. Let him answer 1046 00:58:04.920 --> 00:58:06.840 the question. Michael, so maya, I think I think you 1047 00:58:06.960 --> 00:58:11.360 have your point is valid, so let them helping your 1048 00:58:11.920 --> 00:58:12.679 Yeah yeah yeah. 1049 00:58:12.760 --> 00:58:16.559 Let me let me just quickly going So Michael, so 1050 00:58:16.719 --> 00:58:20.079 two things, and thank you for for your questions. And 1051 00:58:20.199 --> 00:58:22.920 I think you're fixated on the fact that maybe you're 1052 00:58:23.000 --> 00:58:26.719 using you're used to turn. We have local blockchain ecosystems, 1053 00:58:26.719 --> 00:58:30.320 so we're talking Africa now. For example, we have asset chain, 1054 00:58:30.679 --> 00:58:34.039 we have Band two blockchain. We we put our fees 1055 00:58:35.119 --> 00:58:39.519 because we're using the white guys innovation to define everything. 1056 00:58:39.559 --> 00:58:41.719 We're changing the starlescope and we need to work to 1057 00:58:41.840 --> 00:58:45.559 change the startlescope. So we have blockchains that are completely robt. 1058 00:58:46.000 --> 00:58:48.000 So you check a Band two blockchain. Of course they 1059 00:58:48.039 --> 00:58:49.840 are not as popular as once, you know, but we're 1060 00:58:49.880 --> 00:58:53.320 thinking that moving rails. We have the asset chain network 1061 00:58:53.400 --> 00:58:55.519 that is also a layer to of materion that you know, 1062 00:58:55.719 --> 00:59:00.599 and it's finageriors, innovators and nagerias, the creators and and 1063 00:59:00.760 --> 00:59:04.400 those people defease you're talking is actually completely negligible on 1064 00:59:04.519 --> 00:59:07.880 those on those block chaps, and so that that possibly 1065 00:59:07.880 --> 00:59:12.199 will answer that certainly you trust. All law problem is 1066 00:59:12.639 --> 00:59:15.559 general saying what you We just are saying that we 1067 00:59:15.719 --> 00:59:19.760 have nera, you know, globalized. So if you have your narra, 1068 00:59:19.920 --> 00:59:22.239 now if it just just say, for example, a card. 1069 00:59:22.400 --> 00:59:24.079 Let's say you are in Natuia, you have a card, 1070 00:59:24.719 --> 00:59:27.360 and you have maybe above card, and you want to 1071 00:59:27.440 --> 00:59:30.159 travel to maybe say Italy or anyway. The moment you 1072 00:59:30.280 --> 00:59:33.440 step out, no matter how rich you are in Nagulia, 1073 00:59:33.559 --> 00:59:35.800 inn Ira, you discovered that I just caught off from 1074 00:59:35.840 --> 00:59:36.840 global finance. 1075 00:59:37.480 --> 00:59:38.920 And all we're trying to say to say, no. 1076 00:59:39.039 --> 00:59:41.679 This cannot happen if you have a US city like 1077 00:59:41.760 --> 00:59:44.679 the one you trust, and the US city that you trust, 1078 00:59:45.280 --> 00:59:47.920 does is he saying to have a hand shape with 1079 00:59:48.000 --> 00:59:51.480 the digital mirror to enable orchestration of these payments globally, 1080 00:59:51.880 --> 00:59:54.000 so that your nera have been more valuable than being 1081 00:59:54.079 --> 00:59:57.239 locktopping you're popeed on your bank when you're out of Naturia. 1082 00:59:57.280 --> 00:59:59.960 And those those are things we are actually not compare. 1083 01:00:00.360 --> 01:00:02.480 Of course it to be, and it to be it 1084 01:00:02.559 --> 01:00:04.480 to be somebody that is not thinking, all right, I 1085 01:00:04.519 --> 01:00:06.719 will begin to compare, and the rite lira or a 1086 01:00:06.800 --> 01:00:09.880 Brazilian money with your doll they have their master again 1087 01:00:09.920 --> 01:00:12.440 for a long time, so there's no issue of comparing. 1088 01:00:13.039 --> 01:00:15.559 No is trust dollar, it's more, it is higher. So 1089 01:00:15.800 --> 01:00:18.199 there's another thing happening quietly, and that is why it's 1090 01:00:18.239 --> 01:00:21.440 great that we're on discod So the dollars stable coin 1091 01:00:22.119 --> 01:00:25.880 just decided and they saw themselfs being isolated from global traits. 1092 01:00:26.400 --> 01:00:28.360 So people are using and people are holding it. 1093 01:00:28.840 --> 01:00:32.280 But then now see that there's a need completely now 1094 01:00:32.800 --> 01:00:35.199 for the dollars stable cord to have a handshield with 1095 01:00:35.400 --> 01:00:39.360 different locals table coins issued in different countries because the 1096 01:00:39.480 --> 01:00:42.920 last mind is always headache for the dollar transactions, and 1097 01:00:43.079 --> 01:00:46.760 so now they are in bed with everybody issuing local 1098 01:00:46.920 --> 01:00:50.480 currencies stable coin. So the idea that oh dolla is 1099 01:00:50.519 --> 01:00:53.440 the global one that is dominating, yes, but the narrative 1100 01:00:53.519 --> 01:00:55.880 is changing with localst table coins. So litra has come up. 1101 01:00:56.159 --> 01:00:58.679 If you if you're checking the Twitter of the cego 1102 01:00:58.840 --> 01:01:02.039 of Coinbise listened, they say we're glad now that on 1103 01:01:02.199 --> 01:01:05.400 bees you know, some locals tables are for me. And 1104 01:01:05.480 --> 01:01:07.840 the reason why it's praising that is not because sitting 1105 01:01:07.880 --> 01:01:10.519 there only is powerful. Is to make sure that they're 1106 01:01:10.599 --> 01:01:13.119 able to do a kind of a hand shape to 1107 01:01:13.239 --> 01:01:15.719 do last mile set to men across countries, to the 1108 01:01:15.800 --> 01:01:18.599 bank accounts, and so that they're happy that the Littal 1109 01:01:18.679 --> 01:01:20.840 and they're happy Brazil has come up. They're happy that 1110 01:01:20.960 --> 01:01:23.519 s in jail from Nagelia. It's on the rail. And 1111 01:01:23.679 --> 01:01:26.679 what he's doing is that we're now Neira on steroid, 1112 01:01:26.760 --> 01:01:29.480 Narra Global and neither on the International rail. On the 1113 01:01:29.519 --> 01:01:32.519 block chain. They can do whatever other digital money can do. 1114 01:01:32.920 --> 01:01:39.519 So it's not competition really, So it's more efficiency not competition. Actually, okay, 1115 01:01:39.719 --> 01:01:45.480 let's get everything. Let's get everything to she everything sucks. 1116 01:01:46.239 --> 01:01:49.000 Everything go ahead. I need to just add more people, 1117 01:01:49.039 --> 01:01:50.960 so I approach that I if you spoken, I was 1118 01:01:50.960 --> 01:01:53.159 going to drop you. Lots of folks want to have 1119 01:01:53.400 --> 01:01:55.639 a sense. So I've got everything such and I'll do 1120 01:01:55.800 --> 01:01:58.239 the crypto and let's let's go for it. Michael, thanks 1121 01:01:58.320 --> 01:02:04.760 much for your question. Everything go ahead, all. 1122 01:02:02.480 --> 01:02:02.960 Right, guys. 1123 01:02:03.320 --> 01:02:05.119 For me, everything is breaking here. 1124 01:02:05.519 --> 01:02:08.239 Could you could you the audience not that lowed, if 1125 01:02:08.440 --> 01:02:09.280 you could just become. 1126 01:02:11.800 --> 01:02:15.119 An That's what I'm saying. You app is buggy for me? 1127 01:02:15.199 --> 01:02:16.840 Adam am I audible? 1128 01:02:17.000 --> 01:02:21.000 Yes, please go ahead? Yeah, all right, awesome. So for me, 1129 01:02:21.079 --> 01:02:26.679 it's quite an interesting time in the cryptocurrency, bigcoin slash 1130 01:02:27.800 --> 01:02:31.920 stable coin space, and that we are sort of having 1131 01:02:32.079 --> 01:02:37.679 these types of conversations as how to move value within 1132 01:02:37.800 --> 01:02:42.679 the space and do so in a regulated manner. I'm, however, 1133 01:02:42.960 --> 01:02:48.480 from very very important questions because there are some things 1134 01:02:48.559 --> 01:02:53.159 that while I understand the need for promoting this space 1135 01:02:53.920 --> 01:03:00.239 and do not factually entirely with the technicals of how 1136 01:03:00.360 --> 01:03:05.480 the technology actually works. Right, I understand everybody is trying 1137 01:03:05.599 --> 01:03:10.480 to do your own thing, but I wouldn't really evolve 1138 01:03:10.519 --> 01:03:12.280 into that because of time, and I'll just keep a 1139 01:03:12.360 --> 01:03:15.920 shut to ask my very few questions. Hopefully I get 1140 01:03:16.360 --> 01:03:20.760 adequate answers. So there are some Nigerians who want to 1141 01:03:20.960 --> 01:03:27.119 move value in a discreete manner because they fear that 1142 01:03:28.039 --> 01:03:32.920 the normal banking system does not respect financial predacity and 1143 01:03:34.039 --> 01:03:39.360 they can be debanded for autuary reasons, maybe going to 1144 01:03:39.440 --> 01:03:41.239 the wrong protests and whatnot. 1145 01:03:42.440 --> 01:03:43.719 Does this same. 1146 01:03:45.639 --> 01:03:54.960 System give that same sort of leadway to the issue 1147 01:03:55.079 --> 01:03:56.880 was of this token? 1148 01:04:00.199 --> 01:04:02.719 Should probably be worried that they might be this might 1149 01:04:02.840 --> 01:04:07.280 just be another surveillance to buy the government to punish people. 1150 01:04:08.599 --> 01:04:12.360 Or confiscate people's savings. Can people be comfortable in. 1151 01:04:12.519 --> 01:04:18.119 Saving in d C engine Okay, that's a fantastic question. 1152 01:04:18.559 --> 01:04:21.639 That's a fantastic question. I mean because I know why 1153 01:04:21.719 --> 01:04:24.239 that's a fantastic question again because it's all over again 1154 01:04:24.280 --> 01:04:26.639 on my DM. So let's one answer that everything. I 1155 01:04:26.760 --> 01:04:29.719 appreciate that that question, I'm very very valid. So who 1156 01:04:29.760 --> 01:04:31.760 wants to take that up? Can we trust this? If 1157 01:04:31.800 --> 01:04:34.840 we use this and need's going to be taken down somewhere? 1158 01:04:34.920 --> 01:04:38.480 Can so come tomorrow and send folks after us? Who 1159 01:04:38.599 --> 01:04:39.239 wants to take it on? 1160 01:04:41.280 --> 01:04:43.199 Let me speak class and there are my colleagues. 1161 01:04:43.599 --> 01:04:44.360 I yield your mic. 1162 01:04:45.039 --> 01:04:49.360 So it's just and I think that that's a distinction 1163 01:04:49.599 --> 01:04:53.599 that I did earlier to say one is built by 1164 01:04:53.719 --> 01:04:58.519 government and again most of the most of the concern 1165 01:04:58.599 --> 01:05:04.159 globally when it came out is actually deserted as like 1166 01:05:04.280 --> 01:05:09.639 the speaker mentioned. And so what we build is on 1167 01:05:10.159 --> 01:05:15.000 public blockchain. So today, if you have I have seen 1168 01:05:15.159 --> 01:05:17.719 gene in my Metamax for example, today a metal mark, 1169 01:05:17.840 --> 01:05:21.519 like you know, is your wallet is decentralized. I have 1170 01:05:21.679 --> 01:05:25.599 se engine on my Transford for example, and like you know, 1171 01:05:25.840 --> 01:05:29.920 it's also completely under your control, so it is it 1172 01:05:30.079 --> 01:05:33.440 is decentralized, meaning you control your money. So that is 1173 01:05:33.639 --> 01:05:38.239 what wanting engine on public block chain does for you. 1174 01:05:38.360 --> 01:05:41.679 So if your money is your money, accept accept if 1175 01:05:42.360 --> 01:05:47.360 there are criminality and involved, if it's say maybe for example, 1176 01:05:47.480 --> 01:05:51.280 you told that c engen from somebody, of course they 1177 01:05:51.320 --> 01:05:54.920 will be able to accord because on public blockchain, which 1178 01:05:54.960 --> 01:05:56.079 will be able to follow it. 1179 01:05:57.400 --> 01:05:59.199 Different companies globally, you. 1180 01:05:59.239 --> 01:06:02.519 Know, the likes of change analysis analysis companies and all 1181 01:06:02.559 --> 01:06:03.320 those issues will. 1182 01:06:03.159 --> 01:06:04.000 Be able to track down. 1183 01:06:04.239 --> 01:06:07.519 Even they had has the store Walmi billion, we're able 1184 01:06:07.639 --> 01:06:09.480 to track down. The only thing is that I don't 1185 01:06:09.480 --> 01:06:11.440 know who is behind it or whenever they spend it 1186 01:06:11.800 --> 01:06:13.559 in a very compliance man, I should be able to 1187 01:06:13.639 --> 01:06:16.079 know who did that. Well, outside that atting, your money 1188 01:06:16.119 --> 01:06:18.239 is your money. Nobody can the bank you you're actually 1189 01:06:18.320 --> 01:06:20.159 your own bank. If you are in those waters, you 1190 01:06:20.239 --> 01:06:21.880 have those money in those or whatever. You're on your 1191 01:06:21.920 --> 01:06:25.599 own bank. Coming with the attendant risks of you managing 1192 01:06:25.639 --> 01:06:28.559 your private key yourself, and so it's as good as 1193 01:06:28.599 --> 01:06:29.639 you're having builtcoin your. 1194 01:06:29.559 --> 01:06:30.199 Wallet, it might be. 1195 01:06:32.280 --> 01:06:35.400 Okay, is that the final answer on that? I like 1196 01:06:35.480 --> 01:06:37.440 the answer just I think that's a final answer for 1197 01:06:37.639 --> 01:06:42.760 going to the next question. And guys, yeah, okay, let's 1198 01:06:42.760 --> 01:06:45.199 get the crypto who got the crypto Preacher, Then I'll 1199 01:06:45.239 --> 01:06:49.119 get Lawa in here. So Crypto Preacher, I have you 1200 01:06:49.159 --> 01:06:51.719 an also function that had dropped off Crypto Future. You've 1201 01:06:51.719 --> 01:06:54.360 got the flow. Ask you a question. We've full branch. 1202 01:06:54.679 --> 01:06:57.599 And again lots of bookshare have different you know, the 1203 01:06:57.760 --> 01:07:01.000 ass on different spaces or different tea of this. But 1204 01:07:01.079 --> 01:07:02.000 go ahead and ask your question. 1205 01:07:04.119 --> 01:07:07.199 Thank you very much Calou for the opportunity to speak. 1206 01:07:07.400 --> 01:07:12.840 Also the very big thanks to you guys behind the 1207 01:07:12.920 --> 01:07:14.320 cngent team and the rest. 1208 01:07:14.159 --> 01:07:17.599 Of the coup right here on the on this space. 1209 01:07:17.679 --> 01:07:21.199 So my question is costletely the fact that over this 1210 01:07:21.559 --> 01:07:25.000 part a period of time, let's say twenty twenty one 1211 01:07:25.159 --> 01:07:28.199 down now, with all of the front and back and 1212 01:07:28.440 --> 01:07:32.599 all of the name calling of this industry, and with 1213 01:07:32.800 --> 01:07:34.320 a couple of things that have happened in the. 1214 01:07:34.360 --> 01:07:39.039 Past, and regarding or the INI Earth ting. 1215 01:07:40.079 --> 01:07:42.719 I figured out because I posted a couple of my 1216 01:07:42.840 --> 01:07:45.840 payers about cng in one of my social media patform 1217 01:07:45.960 --> 01:07:50.719 and the bad clash is somewhat looking like people see 1218 01:07:50.920 --> 01:07:57.480 the cnngen as another recipe to salve the INI Earth team. 1219 01:07:57.679 --> 01:08:01.760 What is the CNGN team doing to be able to 1220 01:08:01.880 --> 01:08:05.599 erase all of that because what has happened specifically in 1221 01:08:05.719 --> 01:08:09.119 the crypto space right now is the lack of trust 1222 01:08:09.199 --> 01:08:13.480 which government actually initiated or making the industry. 1223 01:08:13.159 --> 01:08:16.279 Look terribly bad. Right, but what is what are the 1224 01:08:16.319 --> 01:08:19.039 team is this current team doing to make it. 1225 01:08:19.199 --> 01:08:21.520 Look like No, this is not a government should be 1226 01:08:22.159 --> 01:08:24.359 This is a private company trying. 1227 01:08:24.239 --> 01:08:26.199 To make sure that things can. 1228 01:08:26.119 --> 01:08:30.600 Work out more like the US did better and circle. 1229 01:08:30.479 --> 01:08:31.600 USDC kind of thing. 1230 01:08:31.680 --> 01:08:37.199 Thank you very much, Okay, perfect, I mean this is 1231 01:08:37.359 --> 01:08:39.960 it's almost like the last question. I think it's folks 1232 01:08:40.079 --> 01:08:42.560 asking for you know, due to the gens and all 1233 01:08:42.640 --> 01:08:44.359 that kind of stuff. So who wants to take that off? 1234 01:08:46.359 --> 01:08:48.520 I know they've just spoken a lot, but he wants 1235 01:08:48.560 --> 01:08:49.159 it to jump in. 1236 01:08:50.119 --> 01:08:52.760 Yeah, i'd in think ended up. 1237 01:08:54.520 --> 01:08:55.800 And think for that. 1238 01:08:56.439 --> 01:08:58.239 So one of the things we are doing is just 1239 01:08:58.399 --> 01:08:58.920 what we are. 1240 01:08:58.920 --> 01:09:01.239 Doing now there that it is this book. 1241 01:09:03.119 --> 01:09:06.079 We we've heard about that and that is why we 1242 01:09:07.000 --> 01:09:10.720 are coming out to reach the public right to say, 1243 01:09:10.760 --> 01:09:12.439 there's a clear distinction between. 1244 01:09:12.760 --> 01:09:19.760 From the inn era the c Engen Like what your 1245 01:09:19.840 --> 01:09:25.479 audio about spec Yes it booke up a bit, but 1246 01:09:25.560 --> 01:09:28.000 go ahead, you can speak up wonderful. 1247 01:09:29.039 --> 01:09:32.880 Okay, So so so so the inner life specifically or 1248 01:09:32.960 --> 01:09:39.359 basically the government enduable right it's big priate central bank 1249 01:09:39.479 --> 01:09:44.199 for the country, so on the private blockchain. But the 1250 01:09:44.319 --> 01:09:47.960 c eng and is a stable coin that is on 1251 01:09:48.039 --> 01:09:52.840 a public blockchain by a private company, So that is 1252 01:09:52.880 --> 01:09:53.640 a clear distinction. 1253 01:09:54.359 --> 01:09:59.720 They both have their the market they are serving. Then 1254 01:10:00.159 --> 01:10:01.199 the c engine. 1255 01:10:02.600 --> 01:10:06.680 Our model currently is it's more of like a whole 1256 01:10:06.760 --> 01:10:10.960 self right to businesses. That is why we're focused more 1257 01:10:11.039 --> 01:10:15.920 on companies or organizations of financial incisions or. 1258 01:10:19.439 --> 01:10:23.439 Digital exchanges to take this the CNNG and formost. 1259 01:10:23.560 --> 01:10:24.039 That's why. 1260 01:10:25.560 --> 01:10:27.560 It's not everybody that can go to the platform and 1261 01:10:27.920 --> 01:10:30.199 you register and then you start getting the CNN. 1262 01:10:30.359 --> 01:10:32.880 So based on the fact that these are the greatest tablecoin, 1263 01:10:33.000 --> 01:10:33.760 we're compliance. 1264 01:10:34.399 --> 01:10:36.199 We have our rules and that for the. 1265 01:10:36.199 --> 01:10:37.319 CNGEN to be issued. 1266 01:10:37.399 --> 01:10:39.880 Then it goes out to the public, and the public 1267 01:10:40.000 --> 01:10:43.119 mixtures of it, the retailers or the individuals I want 1268 01:10:43.159 --> 01:10:45.319 to make use of it for to create solutions that 1269 01:10:45.359 --> 01:10:49.319 will have to do it maybe payment or people that want. 1270 01:10:49.239 --> 01:10:51.640 To create solution that has to do with paying utility 1271 01:10:51.680 --> 01:10:52.359 bills and all that. 1272 01:10:52.640 --> 01:10:53.239 That is fine. 1273 01:10:53.800 --> 01:10:56.159 There's a whole lot of possibilities. So we've not even 1274 01:10:56.199 --> 01:10:57.479 started scratching the. 1275 01:10:57.560 --> 01:10:59.079 Surface of the possibilities. 1276 01:10:59.119 --> 01:11:01.760 Although I do not come from US as an issue 1277 01:11:01.800 --> 01:11:04.800 as but we believe there are lots of companies out 1278 01:11:04.840 --> 01:11:07.159 there that I've been waiting for solutions like this to create, 1279 01:11:09.720 --> 01:11:11.640 to create solutions that. 1280 01:11:11.920 --> 01:11:15.560 People can is listed using. I'm talking that had the 1281 01:11:15.600 --> 01:11:16.039 first question. 1282 01:11:18.920 --> 01:11:22.319 I think he's dropped off because because we were cycling. 1283 01:11:22.520 --> 01:11:27.079 But I think it's just more let's knowing the the 1284 01:11:27.720 --> 01:11:30.319 safety and safety mechanisms that I guess that's what pops 1285 01:11:30.359 --> 01:11:32.800 are asking about. But I think good answers so far. 1286 01:11:34.079 --> 01:11:36.680 Let's get fund show fund shore to ask the question 1287 01:11:36.840 --> 01:11:39.359 way way back. I see you. I don't know what 1288 01:11:39.439 --> 01:11:41.760 it is, what its go methological. Let's get a full shot. 1289 01:11:41.880 --> 01:11:43.880 Then we'll come back to the crypto boys and when 1290 01:11:43.920 --> 01:11:46.439 you guys calm you guys are gonna so for Shure, 1291 01:11:46.479 --> 01:11:55.319 you've got a question full Shore, Giro, you've got a question, okay, 1292 01:11:56.159 --> 01:11:59.239 or Louis shuggle my friend Cosimani, how are you doing? 1293 01:11:59.760 --> 01:12:02.199 This is your space. We've got the guys with one 1294 01:12:02.199 --> 01:12:04.720 of the Niger stable coins here. Do you have a 1295 01:12:04.840 --> 01:12:05.680 question for them? 1296 01:12:05.760 --> 01:12:05.920 Sir? 1297 01:12:11.239 --> 01:12:11.359 All? 1298 01:12:11.359 --> 01:12:11.840 Do I share? 1299 01:12:11.920 --> 01:12:11.960 Go? 1300 01:12:12.920 --> 01:12:16.359 Yeah? I want to think is having a netal problem 1301 01:12:16.399 --> 01:12:16.800 what's up. 1302 01:12:16.840 --> 01:12:17.600 Calu, What are you doing? 1303 01:12:17.680 --> 01:12:18.000 My brother? 1304 01:12:19.800 --> 01:12:26.399 Congratulations you eventually brought dig and Charlie to this place 1305 01:12:26.800 --> 01:12:28.600 for about two years I've been ham marrying. Is you 1306 01:12:28.680 --> 01:12:32.119 bring them Here're very very glad? Yeah, yeah, thank you 1307 01:12:32.199 --> 01:12:34.079 very much. Well done, caldum me God bless the work 1308 01:12:34.119 --> 01:12:38.399 of your hand. Amen, keep it up. You know, today 1309 01:12:38.479 --> 01:12:40.520 is not the day for me to express my Bitcoin 1310 01:12:40.600 --> 01:12:43.520 maximalism because these are my brothers, you know. But I 1311 01:12:43.640 --> 01:12:45.439 just want to say a few things before I ask 1312 01:12:45.520 --> 01:12:47.439 my question, before I give them mike to other people, 1313 01:12:47.880 --> 01:12:54.279 because it's very very important. Digiuh, Charles and the rest 1314 01:12:54.319 --> 01:12:56.840 of them. You your life spoken. They've done well. But 1315 01:12:57.039 --> 01:12:59.199 but one thing I want to call the attention to this. 1316 01:12:59.840 --> 01:13:02.880 You can hear how people truly want to support you, 1317 01:13:04.079 --> 01:13:07.600 and they've already started their due diligence trying to scrutinize 1318 01:13:07.640 --> 01:13:12.039 you as wonderful lit well as you guys have done 1319 01:13:12.119 --> 01:13:15.159 as I would love to really hype, give a round 1320 01:13:15.199 --> 01:13:17.680 of a plus and say some positive things and then 1321 01:13:17.800 --> 01:13:20.720 ask you push your questions that can help grow. Because 1322 01:13:20.840 --> 01:13:22.760 of course I may not be on the board, but 1323 01:13:22.880 --> 01:13:25.000 I've been a part of this from day one day 1324 01:13:25.079 --> 01:13:27.520 zero blow a bit of God. I would like to say, 1325 01:13:27.760 --> 01:13:32.560 Charles Digi and all the representative representative of CGN here, 1326 01:13:32.680 --> 01:13:35.560 please go to your ex profile and go and see 1327 01:13:35.640 --> 01:13:38.920 how you have not represented CNNGN. Well, first go and 1328 01:13:39.039 --> 01:13:42.520 put ashtack CNGN or at CNNGR can do on your 1329 01:13:42.600 --> 01:13:45.880 profile first, because I said bitcoiner, I don't trust, I 1330 01:13:46.079 --> 01:13:47.399 verify and I love. 1331 01:13:47.279 --> 01:13:48.359 You guys as my brothers. 1332 01:13:48.720 --> 01:13:50.880 Charles will spend the year together twenty twenty one to 1333 01:13:51.039 --> 01:13:53.119 twenty twenty two, so me and you were family. 1334 01:13:53.399 --> 01:13:55.680 Diji is my guy. Anytime I go to a buja, 1335 01:13:55.760 --> 01:13:56.840 you know, I got to check him out. 1336 01:13:57.039 --> 01:13:59.920 Shout out to show Danny and my friend down there. 1337 01:14:00.319 --> 01:14:03.039 You know, and everybody on the CGM board, you cannot 1338 01:14:03.039 --> 01:14:06.279 be representing the first ever stable coin in Nigeria. And 1339 01:14:06.640 --> 01:14:09.159 all of you speaking about c Engen don't even have 1340 01:14:09.439 --> 01:14:12.760 at c engen or ashtack c Engen on your profile. 1341 01:14:13.119 --> 01:14:15.680 I speak truth to power and walk away from billions. 1342 01:14:16.479 --> 01:14:16.640 You know. 1343 01:14:16.880 --> 01:14:18.720 So I know we say because my friends we can 1344 01:14:18.920 --> 01:14:20.920 tell you about the truth. So I'll keep quiet for now. 1345 01:14:21.000 --> 01:14:22.920 That's what I want to call your attention to because 1346 01:14:22.920 --> 01:14:25.720 I'm getting d ms uh people that don't want to 1347 01:14:25.800 --> 01:14:29.159 write under Carlus comments so they don't mess this all 1348 01:14:29.279 --> 01:14:33.359 up for you guys, and those have to unnecessarily cause. 1349 01:14:34.640 --> 01:14:35.319 Quilt diligence. 1350 01:14:35.359 --> 01:14:37.960 That is too timely. I think it's too timely for 1351 01:14:38.119 --> 01:14:39.720 now to start. 1352 01:14:40.119 --> 01:14:43.920 You know, over scrutinizing c Engen call Aduna of Tether, 1353 01:14:44.159 --> 01:14:47.800 the co founder of usd T went through a lot 1354 01:14:47.880 --> 01:14:52.800 of scrutinization from the entire crypto community, bitcoin community on 1355 01:14:52.840 --> 01:14:54.760 top of the food chain. That's why it represents a 1356 01:14:54.840 --> 01:14:58.079 bitcoiner even more than the Tether co founder. 1357 01:14:58.119 --> 01:14:59.199 That I so please my. 1358 01:14:59.239 --> 01:15:03.159 Guys, all of you, all of you representing CNGN, You 1359 01:15:03.359 --> 01:15:07.640 cannot be profiling yourself without carrying the flag of c 1360 01:15:07.800 --> 01:15:12.159 eng Because CNGN is an automated machine. CNGN is back 1361 01:15:12.319 --> 01:15:15.359 a human beings. Right, you guys are the once in 1362 01:15:15.479 --> 01:15:18.000 charge of CNNGS, So put the flag of cng on 1363 01:15:18.159 --> 01:15:21.319 your profile first, the website, the astag, so we can 1364 01:15:21.479 --> 01:15:24.359 know who to pick, who to find, who to blame, 1365 01:15:24.479 --> 01:15:25.279 who to apploud. 1366 01:15:25.399 --> 01:15:28.319 First of all, I'll use my my calu. That's what 1367 01:15:28.399 --> 01:15:29.079 I want to call your. 1368 01:15:28.960 --> 01:15:32.000 Attention to first, so that everybody who follows you here 1369 01:15:32.319 --> 01:15:34.720 will be able to you know, know how to ask 1370 01:15:34.760 --> 01:15:36.359 you for that questions on every time, You'll be a 1371 01:15:36.439 --> 01:15:38.159 CALDO space and thank you all for coming to my 1372 01:15:38.199 --> 01:15:38.920 space the other day? 1373 01:15:39.039 --> 01:15:40.000 Who owns another space? 1374 01:15:40.000 --> 01:15:42.520 If I get another opportunity, I will ask them the CALU. 1375 01:15:42.760 --> 01:15:43.439 These are my guys. 1376 01:15:43.600 --> 01:15:45.920 I trust them until they fail. They say, don't trust 1377 01:15:46.199 --> 01:15:48.960 but verify. I'm not going to scrutinize them too much. 1378 01:15:49.039 --> 01:15:52.439 Onto billions and billions and billions of transactions that have 1379 01:15:52.520 --> 01:15:55.279 been done. My fear is fractional reserve banking. But these 1380 01:15:55.319 --> 01:15:57.680 are my guys who I trust. You know, I've exchanged 1381 01:15:57.720 --> 01:15:59.920 money with the J before. The g has been there 1382 01:16:00.039 --> 01:16:02.680 for me before. That's my guy, Guy Guy. Charles is 1383 01:16:02.720 --> 01:16:05.239 my guy Guy Guy. So these guys are not. They 1384 01:16:05.359 --> 01:16:08.520 run a forensic company. They run a software development company 1385 01:16:09.840 --> 01:16:12.439 until they proved to us that we are Cammas before 1386 01:16:12.479 --> 01:16:15.520 we start to condemn them. Before now, if we have 1387 01:16:15.640 --> 01:16:18.720 accepted USDC worldwide, there is no reason to do it. 1388 01:16:18.800 --> 01:16:20.680 We are our own IRA. I don't care about the 1389 01:16:20.720 --> 01:16:22.880 e IRA, but shout out to CNG and there's a 1390 01:16:22.960 --> 01:16:25.359 lot of possibilities and as a bitcoiner, I will carry 1391 01:16:25.359 --> 01:16:28.159 out for my head everywhere. But my guys don't run 1392 01:16:28.199 --> 01:16:32.119 away from questions. Starts by representing CNG A. Well, I'm 1393 01:16:32.159 --> 01:16:35.760 putting on all of your profile. Then we'll continue with 1394 01:16:35.800 --> 01:16:37.399 it utilis I hope that's fair? 1395 01:16:37.760 --> 01:16:38.600 Okay? Perfect? 1396 01:16:39.000 --> 01:16:39.239 Thanks? 1397 01:16:39.239 --> 01:16:42.079 And I'm not sure comment for the for the folks 1398 01:16:42.239 --> 01:16:45.760 here your inside baseball thing. I appreciate the comments. I 1399 01:16:45.840 --> 01:16:47.880 had a question though, and I know who's going to answer. 1400 01:16:48.199 --> 01:16:50.600 So it's a stable coin, right, and I know at 1401 01:16:50.600 --> 01:16:53.920 the very beginning I did read out that that's so 1402 01:16:54.199 --> 01:17:00.319 the detect from CNG from the c G and back 1403 01:17:00.359 --> 01:17:03.000 to one to one and all that. So I just 1404 01:17:03.039 --> 01:17:06.079 want to ask, can you name the bank you happen 1405 01:17:06.159 --> 01:17:08.800 in the bank, per se? But how much treasury bills 1406 01:17:09.000 --> 01:17:12.399 or bonds? How are you guys what's backing the stable 1407 01:17:12.479 --> 01:17:14.119 quote unquote side of the c and energy? 1408 01:17:14.560 --> 01:17:15.279 Is it cash? 1409 01:17:15.520 --> 01:17:18.039 Is it bonds? Is it held in the bank? Who 1410 01:17:18.119 --> 01:17:20.880 can give us more insights on the other side? Now 1411 01:17:21.039 --> 01:17:24.199 on the on what's back in the one for one? 1412 01:17:24.479 --> 01:17:27.640 Do you guys have these funds already curated? Is it 1413 01:17:27.760 --> 01:17:30.720 in the CBN? Is it in individual banks? Who wants 1414 01:17:30.760 --> 01:17:31.800 to let me talking around that? 1415 01:17:37.479 --> 01:17:40.439 Okay, thank you, shruggle. 1416 01:17:41.760 --> 01:17:44.159 I think you have to give me a hour and 1417 01:17:44.159 --> 01:17:45.520 what why you to send me oneaus? 1418 01:17:46.319 --> 01:17:49.079 I think when we launch have a hashtag send jan 1419 01:17:49.119 --> 01:17:50.840 on my bidar. I don't know if you can check mine. 1420 01:17:51.960 --> 01:17:55.079 So yeah, God is taking I think we love those 1421 01:17:55.119 --> 01:17:58.159 questions and just keep them coming. If you spend your 1422 01:17:58.239 --> 01:18:03.000 US with I think a lot of ahead of us. 1423 01:18:04.439 --> 01:18:09.239 So I cannot be okay, this is backed by no man. 1424 01:18:10.560 --> 01:18:12.239 So I listen, for example, so you. 1425 01:18:12.319 --> 01:18:15.079 Have I'm not sure. I'm not sure if it's me 1426 01:18:15.199 --> 01:18:18.199 dig you, but your audience kind of cracky. I'm not 1427 01:18:18.239 --> 01:18:18.800 sure if it's me. 1428 01:18:19.600 --> 01:18:20.840 Yes, I noticed that. 1429 01:18:21.039 --> 01:18:22.920 I noticed that that. 1430 01:18:23.000 --> 01:18:28.800 I can think, okay, okay, So so you want to 1431 01:18:28.840 --> 01:18:32.039 go ahead, okay, so let me look at that. 1432 01:18:32.239 --> 01:18:39.079 Okay, I can here. Thanks very question and thanks. So 1433 01:18:39.880 --> 01:18:43.159 the saying journey is really backed by. 1434 01:18:44.960 --> 01:18:45.680 Buying there. 1435 01:18:47.119 --> 01:18:52.680 And government dates instruments, right, and we we have an 1436 01:18:52.720 --> 01:18:57.359 a detour. We have an appointed custodian from our largest 1437 01:18:57.399 --> 01:19:01.479 banks in Nigeria and we reports. 1438 01:19:02.600 --> 01:19:02.960 Monthly. 1439 01:19:03.560 --> 01:19:08.560 It's a sect, but our reserves and everything audited monthly, 1440 01:19:09.359 --> 01:19:13.399 and it's it's displayed in real time life on a 1441 01:19:13.600 --> 01:19:17.680 dashboard on our website, so sort of everybody can see 1442 01:19:17.680 --> 01:19:21.479 what our reserve positions are. Both for the reserve assets. 1443 01:19:22.960 --> 01:19:27.039 We are Our assets are managed by I can a 1444 01:19:27.159 --> 01:19:33.199 great a assets manager by augusta uncle, and we have 1445 01:19:33.319 --> 01:19:35.079 an auditor and custodian. 1446 01:19:35.439 --> 01:19:36.600 I don't know answers question. 1447 01:19:36.920 --> 01:19:39.840 It doesn it doesn't lot. So you have the assets there, 1448 01:19:40.039 --> 01:19:44.239 it's it's regulated, it's audited monthly, and it's backed really 1449 01:19:44.359 --> 01:19:47.239 one for one and you guys are holding Nigerian or 1450 01:19:47.359 --> 01:19:52.359 Naira assets to backtop one for one? Yeah, perfect, perfect, 1451 01:19:52.600 --> 01:20:02.520 Let's gets the tutor, got the floor, jimsy, you've got 1452 01:20:02.640 --> 01:20:07.920 the flow. If you're not ready, let's get cryptonomics. Cryptonomics, 1453 01:20:08.600 --> 01:20:15.640 thank you for hopping in here. Economics, thank you, Carlos. 1454 01:20:16.399 --> 01:20:18.359 In fact, I don't think I have any other question 1455 01:20:18.520 --> 01:20:20.079 because I've already asked my question. 1456 01:20:21.000 --> 01:20:23.640 But let it still be that I asked something. 1457 01:20:24.039 --> 01:20:25.560 So I heard one of. 1458 01:20:25.600 --> 01:20:29.760 These speakers when they said when he spoke about they 1459 01:20:29.800 --> 01:20:33.399 are still targeting businesses at the moment. So in the future, 1460 01:20:33.680 --> 01:20:39.000 is there any plan for retail users or small business users? 1461 01:20:39.600 --> 01:20:42.560 And then for those of us in the exporta You know, 1462 01:20:42.760 --> 01:20:47.520 I know how much I spend in bank, you know 1463 01:20:47.720 --> 01:20:51.640 charges when I do make a nirab bank to bank transfers. 1464 01:20:51.720 --> 01:20:55.600 So would there be any benefit you know of using 1465 01:20:55.760 --> 01:20:59.920 c eng and in terms of reduced transaction fees. If 1466 01:21:00.039 --> 01:21:04.439 I'm sending c Engen to another CNNG on wallet or 1467 01:21:04.720 --> 01:21:07.439 like if I want to transfer us the US dollars, 1468 01:21:07.680 --> 01:21:10.560 I usually do that using transferring US data. I know 1469 01:21:10.640 --> 01:21:13.520 how much I save, you know, in transferring usty to 1470 01:21:13.600 --> 01:21:16.159 my family in Nigeria and the cell and converted to naira. 1471 01:21:16.720 --> 01:21:22.039 So that's the only one I want to ask. Thank you, Okay, no, 1472 01:21:22.800 --> 01:21:27.079 thank you very much for that fantastic question. So really, 1473 01:21:27.319 --> 01:21:31.920 our job in the end, in the end, everything we're 1474 01:21:31.960 --> 01:21:35.399 doing is about regular you know, every day Nigeria and rates. 1475 01:21:35.920 --> 01:21:39.239 So even when we say our focus is on businesses, 1476 01:21:39.359 --> 01:21:43.720 it's still it's still those transactions are done by everyday users. 1477 01:21:44.119 --> 01:21:47.600 It's using those businesses, if that makes sense. So our 1478 01:21:47.720 --> 01:21:52.439 job here is to make sure that businesses right, FinTechs, 1479 01:21:52.560 --> 01:21:55.560 you know, everybody that can you know, that's that sort 1480 01:21:55.600 --> 01:22:03.239 of manages the systems can get and you know, distribute 1481 01:22:04.000 --> 01:22:08.760 see engine as cheaply, as easily and as fast as possible. 1482 01:22:08.800 --> 01:22:12.880 And that's really the you know, the tall tax we 1483 01:22:13.000 --> 01:22:15.760 have to do right now. Really every day, our job 1484 01:22:16.319 --> 01:22:18.399 for the next few months is figuring out how to 1485 01:22:18.520 --> 01:22:22.279 make sure that when you in maybea in Canada, in 1486 01:22:22.359 --> 01:22:25.319 the UK, wherever you are, you're even in Nigeria and 1487 01:22:25.439 --> 01:22:29.359 you're trying to you know, buy irregular digital assets in Nigeria, 1488 01:22:30.039 --> 01:22:33.880 or you want to send you know, money to your 1489 01:22:34.199 --> 01:22:36.159 you know, to your family or friends, you know, whatever 1490 01:22:36.199 --> 01:22:38.560 it is. So our job is really to make sure 1491 01:22:38.600 --> 01:22:44.039 that end users are able to access the engine, working 1492 01:22:44.279 --> 01:22:46.920 obviously working closely with our business partners, but making sure 1493 01:22:46.960 --> 01:22:51.119 that end users are able to access Changine and Engine 1494 01:22:51.279 --> 01:22:55.319 transactions as cheaply, as easily and as as quickly as possible. 1495 01:22:55.760 --> 01:22:57.640 And so so far I said that that's really our 1496 01:22:57.680 --> 01:23:01.039 focused right now. Am away that you can you know, 1497 01:23:01.119 --> 01:23:03.800 there are there's some people building in the in the 1498 01:23:03.880 --> 01:23:06.760 community because sameermes starting to have an interesting community. 1499 01:23:07.720 --> 01:23:10.760 There's no blocks. I see some of the stuff they're doing. 1500 01:23:11.319 --> 01:23:16.560 You can basically now go from you know, your your 1501 01:23:17.439 --> 01:23:21.359 blockchain wallets, you know, internire in like you know, to 1502 01:23:21.560 --> 01:23:26.119 three seconds right for like sooner three and a five 1503 01:23:26.520 --> 01:23:29.119 do sort of things. So days there's a lot of 1504 01:23:29.520 --> 01:23:31.640 sort of work going on right I am aware that 1505 01:23:31.760 --> 01:23:35.279 some who are building in the systems to enable you 1506 01:23:35.840 --> 01:23:39.640 go from in the same gene to impers out in Kenya, 1507 01:23:39.720 --> 01:23:42.800 for example. So what that means is you can't then 1508 01:23:43.439 --> 01:23:47.880 functionally be spending nira, you know anyway, you don't have 1509 01:23:48.000 --> 01:23:49.840 to if you're traveling to Kenya, you don't have to 1510 01:23:49.880 --> 01:23:52.600 go on hard you know, ten thousand US dollars five 1511 01:23:52.640 --> 01:23:55.079 thousand US dolls because you want to travel. You can 1512 01:23:55.239 --> 01:23:57.439 just go to your regular bank with your normal and 1513 01:23:57.520 --> 01:23:59.720 are and you can't spend it there in real time 1514 01:23:59.800 --> 01:24:03.000 and the transactions are going two seconds, three circles, you. 1515 01:24:03.000 --> 01:24:05.520 Know, for like tenure transaction piece. 1516 01:24:05.880 --> 01:24:07.520 So that that's that's really a lot of the what 1517 01:24:07.640 --> 01:24:12.920 we're doing is making sure that and users can ultimately 1518 01:24:13.399 --> 01:24:17.760 access and use you know, disproducts as cheaply, as quickly 1519 01:24:17.920 --> 01:24:19.119 and as as possible. 1520 01:24:19.399 --> 01:24:20.680 I don't know if that answers the question. 1521 01:24:21.560 --> 01:24:23.359 It does, it does a lot. I just want to 1522 01:24:23.680 --> 01:24:28.359 just yeah, it does. Just you're just getting some questions again, 1523 01:24:28.479 --> 01:24:30.520 Just can you just go over that question asks the 1524 01:24:30.640 --> 01:24:34.279 very beginning, how does this, you know, help the average 1525 01:24:34.760 --> 01:24:39.399 Nigerian business, Like think of a woman selling soaping in 1526 01:24:39.680 --> 01:24:43.119 gian Kara or song setting textiles and cane. How does 1527 01:24:43.199 --> 01:24:47.279 this really help the efficiency you know, the cashless. Just 1528 01:24:47.359 --> 01:24:49.760 give us an example, make it, you know, make it local. 1529 01:24:49.880 --> 01:24:52.800 How does it really help businesses in Nigeria? This sea 1530 01:24:52.880 --> 01:24:54.720 engine and if you might just go over that, I 1531 01:24:54.800 --> 01:24:56.600 know you give it at the beginning, just go by 1532 01:24:56.600 --> 01:24:57.359 it the game please. 1533 01:24:58.960 --> 01:24:59.760 And thank you, thank you. 1534 01:24:59.800 --> 01:25:06.319 Ver So i'd say this this it would happen in phases, right. 1535 01:25:06.479 --> 01:25:08.840 I think that's kind of the points that's necessary to 1536 01:25:08.920 --> 01:25:13.399 make it would happen in phases. Right now we are 1537 01:25:14.439 --> 01:25:19.359 we are in a regulator sandbox, right, and the immediate 1538 01:25:19.439 --> 01:25:24.840 focus is really proving setting use cases, proving sets and functionalities. 1539 01:25:24.960 --> 01:25:25.119 Right. 1540 01:25:27.159 --> 01:25:28.159 So a lot of the. 1541 01:25:29.840 --> 01:25:35.119 A lot of the specific use cases for financial inclusion, 1542 01:25:35.880 --> 01:25:38.399 you know, a lot of dis things would come naturally 1543 01:25:38.520 --> 01:25:39.039 over time. 1544 01:25:39.239 --> 01:25:39.359 Right. 1545 01:25:39.920 --> 01:25:42.600 But what say engine is and what stable coins are 1546 01:25:42.840 --> 01:25:48.960 in general, it's they are basically a technology that makes 1547 01:25:50.199 --> 01:25:56.680 that makes the the use and distribution of of money 1548 01:25:56.800 --> 01:26:01.279 rights as cheap, as efficient, as quick as rights. So 1549 01:26:01.479 --> 01:26:07.520 that means in practices, you no longer need, for example, 1550 01:26:08.720 --> 01:26:12.840 you know, three four, five intermediaries to set two a 1551 01:26:12.960 --> 01:26:17.079 transaction between two banks, right like in Nigeria today, to 1552 01:26:17.159 --> 01:26:20.079 set the transaction between two banks or two financial institutents, 1553 01:26:20.520 --> 01:26:22.359 a I'm sorry this, I just want to be very 1554 01:26:22.439 --> 01:26:25.159 clear that the engine is not as a stable coin 1555 01:26:25.279 --> 01:26:28.840 is not yet used by banks or anything, and distance 1556 01:26:28.840 --> 01:26:31.399 will happen in phases. I'm just making a points stable 1557 01:26:31.479 --> 01:26:35.520 coins in general, right, like in the in the US 1558 01:26:35.640 --> 01:26:38.039 or other markets where their regulations are more. 1559 01:26:40.000 --> 01:26:40.199 You know. 1560 01:26:42.760 --> 01:26:46.560 Developed, In some of these paymental use cases, you no 1561 01:26:46.640 --> 01:26:50.079 longer need three four five, You don't need to pay 1562 01:26:50.399 --> 01:26:54.840 four five six intermediaries to cetily transaction, right, so you 1563 01:26:54.960 --> 01:26:57.439 can pretty much directly go from. 1564 01:26:59.039 --> 01:27:02.920 The end from the woman in the market pain to 1565 01:27:03.079 --> 01:27:06.279 the person she wants to pay at the. 1566 01:27:06.359 --> 01:27:09.439 Most minimal possible PHI is like in a ways that 1567 01:27:09.600 --> 01:27:12.199 in ways that the regular. 1568 01:27:13.560 --> 01:27:15.119 System will be able to accommodate. 1569 01:27:15.279 --> 01:27:15.399 Right. 1570 01:27:15.439 --> 01:27:19.720 So that's really the core of stable coins is that 1571 01:27:20.399 --> 01:27:26.520 it allows it allows value flow in a way that 1572 01:27:26.920 --> 01:27:30.960 is more efficient, cheaper, and faster than any other thing 1573 01:27:31.560 --> 01:27:34.680 we currently have to pay anywhere in this world. 1574 01:27:35.199 --> 01:27:40.239 So what that means in practices, ultimately everybody is going 1575 01:27:40.319 --> 01:27:45.520 to be getting access so easier, cheaper, quaker you know 1576 01:27:47.880 --> 01:27:50.920 systems right to move there, to move their to move 1577 01:27:50.960 --> 01:27:53.640 their local value and payment. 1578 01:27:53.399 --> 01:27:54.720 Around, if that makes sense. 1579 01:27:55.760 --> 01:28:00.159 So yeah, it's ultimately it's automately get to get to 1580 01:28:01.079 --> 01:28:03.800 you know, do money in Alabama. 1581 01:28:03.359 --> 01:28:08.439 And eventually so Wela, eventually you can actually be in 1582 01:28:08.520 --> 01:28:08.840 here at. 1583 01:28:08.800 --> 01:28:09.680 What point in mind? 1584 01:28:10.520 --> 01:28:13.239 Yeah, thanks, thanks so much for you for pointing that out. 1585 01:28:14.600 --> 01:28:18.039 I think again this is a very good point in 1586 01:28:18.119 --> 01:28:22.079 the space to speak to developers. 1587 01:28:22.960 --> 01:28:24.640 If you remember the last time I made a comment 1588 01:28:24.680 --> 01:28:29.000 about programmable money, right, I for one know that there's 1589 01:28:29.039 --> 01:28:31.920 a lot of innovators in Nigeria. 1590 01:28:33.239 --> 01:28:36.960 In fintech space even you know, generally. 1591 01:28:40.319 --> 01:28:43.399 What the engine can do is almost limited by the 1592 01:28:43.600 --> 01:28:46.399 creativity an innovative mindset. 1593 01:28:46.159 --> 01:28:49.319 Of this Nigeria itself and even Africa. 1594 01:28:50.199 --> 01:28:52.399 When you talked about the person the market will manage 1595 01:28:52.880 --> 01:28:55.439 that someone can build and you know something in wallet 1596 01:28:55.880 --> 01:28:58.439 or something that has some scroot system stuff built into it, 1597 01:28:59.079 --> 01:29:01.760 you can revolution is how is SUSU is currently done? 1598 01:29:01.920 --> 01:29:02.560 For example? 1599 01:29:03.359 --> 01:29:05.399 Right you how I like? 1600 01:29:05.520 --> 01:29:06.319 I like I like that. 1601 01:29:06.760 --> 01:29:08.840 I like what you just said. Now, so if I 1602 01:29:09.039 --> 01:29:11.000 have ten people and want to do a sus so 1603 01:29:11.079 --> 01:29:16.640 we can do a susu with inira Abbi because sorry sorry, 1604 01:29:16.680 --> 01:29:18.520 when I see engine and we can do that right 1605 01:29:18.560 --> 01:29:23.920 because it's instantaneous, it's every month, it's programmable and exactly. 1606 01:29:24.199 --> 01:29:26.880 It's the programming rights. There's no you know, you know 1607 01:29:26.960 --> 01:29:27.680 what they in. 1608 01:29:29.199 --> 01:29:32.520 You know when it's time to turn money to me, when. 1609 01:29:32.439 --> 01:29:33.800 It's time to pay you know. 1610 01:29:34.239 --> 01:29:37.439 We we really want developers to come on board and 1611 01:29:38.199 --> 01:29:40.760 think about what they're able to do. I mean, I 1612 01:29:41.600 --> 01:29:43.960 think I've been in the text Niger, but you know that. 1613 01:29:43.960 --> 01:29:45.479 People are super treated. 1614 01:29:45.880 --> 01:29:48.960 People talk about organization, you know, the organization of stocks, 1615 01:29:49.119 --> 01:29:54.520 organization of assets. You know what if let me bumba 1616 01:29:54.560 --> 01:29:56.560 engi so I can say some things, but think about 1617 01:29:56.680 --> 01:29:59.079 what you're able to treat. If you people that order things, 1618 01:29:59.760 --> 01:30:03.640 you know from from other markets that maybe asked, well 1619 01:30:03.680 --> 01:30:04.720 they needed the US. 1620 01:30:04.560 --> 01:30:05.079 Did to do that. 1621 01:30:05.960 --> 01:30:07.720 We have stable coins and there's seven point of some 1622 01:30:07.800 --> 01:30:08.479 of those markets. 1623 01:30:08.680 --> 01:30:09.399 Now you don't need. 1624 01:30:09.399 --> 01:30:12.359 USD can just buy your CNG and and if if 1625 01:30:12.479 --> 01:30:16.199 you know, if you build more intuitive market to my 1626 01:30:16.319 --> 01:30:19.479 friend dissolutions, you literally can use your to make orders 1627 01:30:19.520 --> 01:30:22.039 in those particular places. You know the issues that you 1628 01:30:22.119 --> 01:30:25.039 have paying some of your subscription bills, you know because 1629 01:30:25.079 --> 01:30:28.399 of limitations or you are someone can easily. 1630 01:30:28.239 --> 01:30:31.119 Build the proper nut virtual virtual. 1631 01:30:30.920 --> 01:30:33.479 Type in which all you don't introduce to fundly your NIRA. 1632 01:30:33.560 --> 01:30:35.720 You don't know what happens under the rails, right, and 1633 01:30:35.760 --> 01:30:38.079 then you're able to make assessments and then the reverse 1634 01:30:38.800 --> 01:30:40.920 the reverse. There's a lot of smart people in like 1635 01:30:41.039 --> 01:30:46.760 g get you know, geek geeks abroad because of settlement 1636 01:30:46.880 --> 01:30:51.079 issues or because you know sometimes they did complex Now 1637 01:30:51.439 --> 01:30:54.239 you can expand our gig economy, so to speak, because now, 1638 01:30:55.439 --> 01:30:58.079 like like you said, we're in different phases where people 1639 01:30:58.119 --> 01:31:01.159 from different parts of the world can literally acquire CNNG 1640 01:31:01.319 --> 01:31:02.800 and just decise is that they. 1641 01:31:02.760 --> 01:31:05.479 Currently acquire us DT, et cetera, and we can use 1642 01:31:05.520 --> 01:31:09.479 that to make payments. Think about the situation where where. 1643 01:31:09.359 --> 01:31:10.159 Publies cannot you. 1644 01:31:10.199 --> 01:31:13.520 Know, up their start what they call it up pay roam. 1645 01:31:14.239 --> 01:31:16.720 You know, they can do that so easily now because 1646 01:31:16.800 --> 01:31:18.399 you know at a particular time of it, as long 1647 01:31:18.399 --> 01:31:21.520 as the money available, it can go to everybody, you know, 1648 01:31:21.680 --> 01:31:25.239 and you can you can payble by hour, you can program. 1649 01:31:25.079 --> 01:31:27.479 You know over time, you know hours and things like that. 1650 01:31:27.800 --> 01:31:31.159 You know, there's you just we just need creative. 1651 01:31:30.880 --> 01:31:34.720 Developers to come on board and and speak. 1652 01:31:34.520 --> 01:31:39.159 To us UH and try to build innovative solutions on this. 1653 01:31:39.520 --> 01:31:40.600 We can do everything. 1654 01:31:40.880 --> 01:31:42.640 If the guys at c ENG and they make the 1655 01:31:42.760 --> 01:31:45.439 infrastructure you know available and many of the things that 1656 01:31:45.520 --> 01:31:47.159 you have, many of the products that you have today 1657 01:31:47.680 --> 01:31:49.920 that are built on CNJA, built by people you know 1658 01:31:50.000 --> 01:31:52.600 who are creative but are trying to to make things happen. 1659 01:31:52.880 --> 01:31:54.239 So I guess maybe that's. 1660 01:31:54.079 --> 01:31:57.520 My addition to what my public view has already said. 1661 01:31:57.880 --> 01:32:01.680 Is there a use for this and music in Nigeria? 1662 01:32:01.840 --> 01:32:06.199 We have copyright issues, so on release an album, it's copyrighted. 1663 01:32:06.800 --> 01:32:09.319 Is there a way we can tie this into downloading 1664 01:32:09.439 --> 01:32:13.359 music where musicians are able to get paid digitally, where 1665 01:32:13.439 --> 01:32:15.800 they see and energy. Is there something around that we 1666 01:32:15.840 --> 01:32:16.279 can build? 1667 01:32:17.840 --> 01:32:20.680 Again, remember what I said before that we are not 1668 01:32:20.760 --> 01:32:23.239 the one who are going to build this, but imagine 1669 01:32:23.239 --> 01:32:26.159 a situation where you're able to scream and build paper. 1670 01:32:26.239 --> 01:32:30.199 Second, right, this is just me imagining things. I'm not 1671 01:32:30.399 --> 01:32:33.600 about all the nuances and not about the condo or 1672 01:32:33.680 --> 01:32:36.119 the inefficiency that I may bring. But I'm just saying 1673 01:32:36.199 --> 01:32:39.479 that the we'll just have to apply our imagination here. 1674 01:32:40.239 --> 01:32:42.279 Regardless of what you build people. 1675 01:32:42.479 --> 01:32:43.960 You know that people who always do want to gain 1676 01:32:44.000 --> 01:32:45.520 whatever system or platform you're build. 1677 01:32:45.560 --> 01:32:48.600 So again, it's not a not to innovate on behalf 1678 01:32:48.640 --> 01:32:49.000 of people. 1679 01:32:49.439 --> 01:32:52.920 We have just created this particular tool or infrastructure, so 1680 01:32:53.039 --> 01:32:55.760 to speak, to say, here you are here and here 1681 01:32:55.840 --> 01:33:00.279 you go. This is programmable nairah. Make it work for 1682 01:33:00.479 --> 01:33:02.640 the average jow on the streets. 1683 01:33:02.960 --> 01:33:05.399 The cryptunities already kind of know what they can do 1684 01:33:05.479 --> 01:33:08.680 with it, right, some of them already can swap digital 1685 01:33:08.760 --> 01:33:11.720 assets directly into c Engen and off from you know, 1686 01:33:13.000 --> 01:33:15.720 that is already happening. But for the average drive on 1687 01:33:15.800 --> 01:33:18.840 the streets, the market woman, like you said, the program 1688 01:33:19.239 --> 01:33:22.239 the product manager here looking for gigs. 1689 01:33:21.960 --> 01:33:24.399 In Mauritia, So the US is somewhere. 1690 01:33:24.680 --> 01:33:29.520 All of those people build solutions that would enable them 1691 01:33:29.560 --> 01:33:31.560 to be able to receive payments deciding for their service. 1692 01:33:31.640 --> 01:33:32.720 So that we can even be more. 1693 01:33:32.640 --> 01:33:36.399 Export driven, so to speak up I mean export service driven. 1694 01:33:37.000 --> 01:33:39.479 I know we have limitations and challenges with the exporting 1695 01:33:39.520 --> 01:33:41.760 you know, actual products and companies, but at least we 1696 01:33:41.800 --> 01:33:44.079 can export services no people that you can get you 1697 01:33:44.199 --> 01:33:45.920 so we can get instant settlement. 1698 01:33:46.239 --> 01:33:47.239 You know, and stuff like that. 1699 01:33:47.359 --> 01:33:49.680 So for us, we're not going to be the ones 1700 01:33:49.760 --> 01:33:51.720 building these things that you said. There might be some 1701 01:33:51.880 --> 01:33:54.399 of us, you know that may end up innovating as well. 1702 01:33:54.399 --> 01:33:55.239 I'm built on top of this. 1703 01:33:55.359 --> 01:33:59.279 But the mandate of rahap CDC CITYDC is to ensure 1704 01:33:59.319 --> 01:34:02.079 that we're initially constant and complained. Man, we're making this 1705 01:34:02.159 --> 01:34:07.960 particular if a platform available for businesses and technological partners 1706 01:34:08.199 --> 01:34:11.000 to build on, you know, to to change how business 1707 01:34:11.079 --> 01:34:12.640 is done in Nigeria and Africa. 1708 01:34:13.439 --> 01:34:20.880 So gotcha? Okay response, Let's get money, him money, him money, 1709 01:34:22.920 --> 01:34:25.039 Thanks for having ye go ahead? 1710 01:34:25.920 --> 01:34:26.479 Yeah okay. 1711 01:34:26.560 --> 01:34:29.000 So first of all, I'd like to thank the creators 1712 01:34:29.079 --> 01:34:32.439 of c Engine for they also what they're doing. I 1713 01:34:32.520 --> 01:34:36.199 think this is definitely a way forward for Nigeria and 1714 01:34:36.680 --> 01:34:41.079 for the blockchain community. One question I just want. 1715 01:34:40.960 --> 01:34:46.359 To ask is regarding the aspect of trust and transparency. 1716 01:34:46.439 --> 01:34:50.319 I know bits of this has been touched and previous 1717 01:34:50.359 --> 01:34:52.880 answers to the questions asked for, but I think this 1718 01:34:53.039 --> 01:34:54.479 is very important because. 1719 01:34:54.680 --> 01:34:57.800 As we all know, Nigeria and every Nigeria. 1720 01:34:57.800 --> 01:35:02.039 Has trust issue right and and I think it's falls 1721 01:35:02.359 --> 01:35:04.560 the responsibility for as on say Engine, to make sure 1722 01:35:04.560 --> 01:35:08.000 that they're able to help people understand that this platform 1723 01:35:08.319 --> 01:35:11.079 is uh is going to help them solve a lot 1724 01:35:11.119 --> 01:35:11.960 of problems. 1725 01:35:11.640 --> 01:35:14.279 In the future. And this is this applies to developers 1726 01:35:14.399 --> 01:35:15.880 and their end users eventually. 1727 01:35:16.439 --> 01:35:18.800 Now to give example, why I'm apking this. 1728 01:35:18.920 --> 01:35:24.039 Question on your side, you mentioned that you have like 1729 01:35:24.199 --> 01:35:28.079 audits reports been delivered on daily basis, but I can't 1730 01:35:28.359 --> 01:35:32.920 really touch on or see anything in that area like 1731 01:35:33.560 --> 01:35:36.760 they for spent for some reason. But I think these 1732 01:35:36.880 --> 01:35:39.680 are examples where I think it's important for you to 1733 01:35:39.760 --> 01:35:44.560 be on again regarding like giving accurate informations. Now the 1734 01:35:44.680 --> 01:35:48.640 numbers with regard to circulations or as they're just numbers 1735 01:35:49.079 --> 01:35:51.840 like for the auditors. If I can get like another 1736 01:35:51.920 --> 01:35:54.439 audit reports, that in the way kind of helps me 1737 01:35:54.560 --> 01:35:57.399 trust the platform and I can meet maybe for doing 1738 01:35:57.560 --> 01:36:00.520 investigation and see how I can maybe start working around 1739 01:36:00.640 --> 01:36:03.079 maybe working with teams to be something around this. But 1740 01:36:03.760 --> 01:36:06.840 these four steps are four steps are not even available 1741 01:36:06.880 --> 01:36:08.960 to me. And how do I and this is just 1742 01:36:09.079 --> 01:36:13.840 me one understand a bit of blockchain, So please, how 1743 01:36:14.000 --> 01:36:17.399 do you address the issue of trust and transparency? And 1744 01:36:17.560 --> 01:36:22.159 then you've mentioned the world compliants quite a number of times. 1745 01:36:22.520 --> 01:36:27.680 What does that mean like saying this compliant, like what 1746 01:36:28.119 --> 01:36:31.119 what does that entails? Like can you pick that down 1747 01:36:31.159 --> 01:36:34.239 a bit? And yeah, so that does are my questions. 1748 01:36:36.119 --> 01:36:40.600 Right again? Open question, guys? Did you go I take that? 1749 01:36:41.439 --> 01:36:41.680 Take that? 1750 01:36:42.000 --> 01:36:43.199 Thank you time? Money. 1751 01:36:44.880 --> 01:36:49.159 Again, we are barely a mont. So normal traditional stable 1752 01:36:49.239 --> 01:36:53.880 coins do whether they started or with a quarterly report, 1753 01:36:54.239 --> 01:36:56.840 but we are going to be doing monthly report and 1754 01:36:57.119 --> 01:36:59.479 the auditor is working on it now. We're barely a mont. 1755 01:37:00.079 --> 01:37:02.920 Always saying is that all the structures have been putting 1756 01:37:03.000 --> 01:37:04.199 place for transparency. 1757 01:37:04.560 --> 01:37:06.159 If you check on our page, those. 1758 01:37:06.119 --> 01:37:08.920 Numbers are not merely numbers, they are picking them from blockchain. 1759 01:37:09.199 --> 01:37:12.359 Since we say you understand blockchain, those numbers are immittable. 1760 01:37:12.560 --> 01:37:15.600 It means they actually happened and it's pulling it from 1761 01:37:15.640 --> 01:37:18.920 the blockchain. And if you inquire deeper on that same page, 1762 01:37:19.000 --> 01:37:21.920 you see the numbers on each of the protocols that 1763 01:37:22.000 --> 01:37:25.319 we support, from asset chain to pace to every transaction 1764 01:37:25.399 --> 01:37:25.960 that's happened. 1765 01:37:26.119 --> 01:37:27.840 Is that open on that. 1766 01:37:29.319 --> 01:37:30.000 Those areas. 1767 01:37:30.039 --> 01:37:34.439 So we are completely committed to transparency and we we 1768 01:37:34.560 --> 01:37:37.960 all attend. Now we're about blocking one month and we 1769 01:37:38.359 --> 01:37:41.199 don't want to go with the style of releasing quarterly 1770 01:37:41.239 --> 01:37:41.960 auditor report. 1771 01:37:42.000 --> 01:37:43.039 We want to do it monthly. 1772 01:37:43.239 --> 01:37:45.119 In fact, we just did the meeting with the auditor 1773 01:37:45.319 --> 01:37:48.680 today to make sure that that goes out so that 1774 01:37:48.840 --> 01:37:52.439 you see it immediately. Hunger the website like you did 1775 01:37:52.600 --> 01:37:59.319 mention Secondly, I think the second question is about first 1776 01:38:00.000 --> 01:38:04.199 atten distrust. Yeah, I think we addressed that, No, we 1777 01:38:04.239 --> 01:38:06.439 don't have our compliance. We don't have our compliance and 1778 01:38:06.520 --> 01:38:10.159 what what does that mean? Okay, so so there have 1779 01:38:10.279 --> 01:38:12.720 been they have been there have been people that have 1780 01:38:12.840 --> 01:38:17.079 attempted to do to do uh stable coins, but they 1781 01:38:17.159 --> 01:38:23.960 didn't go to regulators. Again because it's a bit kind 1782 01:38:23.960 --> 01:38:27.319 of regulated activities. We don't want to take the route 1783 01:38:27.359 --> 01:38:29.800 of just going to the market. We are going to compliance. 1784 01:38:29.840 --> 01:38:32.640 And again, like I mentioned, we're very big in compliance 1785 01:38:32.680 --> 01:38:36.159 and around crypto risk and all that. And so for us, 1786 01:38:36.439 --> 01:38:39.880 we are starting off with merchants and merchants that are regulated. 1787 01:38:40.000 --> 01:38:42.960 So it means for you to optic c engine. You 1788 01:38:43.119 --> 01:38:46.439 know you asked what that compliance meant. For you to 1789 01:38:46.560 --> 01:38:49.720 uptake c Enger, you have to be one regulated entity. 1790 01:38:50.039 --> 01:38:52.560 It means we are distributed it from a regulated I dentity. 1791 01:38:52.680 --> 01:38:57.880 So today we have started with entities like quid Acts 1792 01:38:57.920 --> 01:39:01.319 who are also regulated and still like Busher, who are 1793 01:39:01.399 --> 01:39:03.079 also to their regulator. 1794 01:39:03.159 --> 01:39:04.359 If we move to FinTechs, we. 1795 01:39:04.560 --> 01:39:07.039 Must have a sibian or one other line sense that 1796 01:39:07.159 --> 01:39:08.880 you have to be able to come to us who 1797 01:39:08.960 --> 01:39:11.920 want to know who are the initial optakers of these 1798 01:39:12.000 --> 01:39:15.000 tokens are and that's what that compliance meant. 1799 01:39:15.319 --> 01:39:17.720 So, but of course retail customers. 1800 01:39:17.279 --> 01:39:18.840 WI go and but there would be a lot of 1801 01:39:18.920 --> 01:39:21.800 people that will also optake it make it available to 1802 01:39:21.920 --> 01:39:24.720 every other personality to be distribute like that. But the 1803 01:39:24.920 --> 01:39:27.439 source is that you have to be a regulated business. 1804 01:39:27.479 --> 01:39:29.680 You have to be registered for you to be able 1805 01:39:29.720 --> 01:39:32.720 to appairly op take it in that larger wholesale quantity. 1806 01:39:35.760 --> 01:39:39.960 Okay, all right, all right, all right, let's get James James, 1807 01:39:40.279 --> 01:39:45.800 Hillary consoles Hi, thanks for hanging there in. 1808 01:39:48.000 --> 01:39:51.920 Jims, Hillary, I'm from a roobic career. I work with 1809 01:39:52.000 --> 01:39:55.000 a couple of more authority and I have to say that. 1810 01:40:00.359 --> 01:40:11.000 James around virtual assets and one of the very patternate 1811 01:40:11.079 --> 01:40:13.520 and key issues that we've been discussing a lot actually 1812 01:40:13.640 --> 01:40:18.039 stable coins. I was also in a meeting the other week. 1813 01:40:18.800 --> 01:40:22.800 Road is also coming up with their regulation and stable 1814 01:40:22.840 --> 01:40:26.319 coins also was a very patent issue that was raised. 1815 01:40:27.199 --> 01:40:33.159 And for this CNN team, I just want to to 1816 01:40:33.319 --> 01:40:37.479 inquire what is the rational of the Central Bank of 1817 01:40:37.600 --> 01:40:43.960 Nigeria to refer you guys to CEC because that will 1818 01:40:44.000 --> 01:40:47.119 actually go a long way, and especially in Kenya as 1819 01:40:47.199 --> 01:40:48.199 that will shape. 1820 01:40:48.840 --> 01:40:50.439 Our discussion as that now. 1821 01:40:51.920 --> 01:40:54.680 Many people are of the opinion that stable coins should 1822 01:40:54.680 --> 01:40:59.600 be under the central bank, while it's evident from this 1823 01:40:59.840 --> 01:41:02.000 kind shows that it falls unto the. 1824 01:41:01.960 --> 01:41:02.880 Couple of market space. 1825 01:41:03.319 --> 01:41:07.359 So just a clarification potionally for corderstondability or perspective. 1826 01:41:07.640 --> 01:41:12.560 Thank you, thank you very much, sir, thank you for 1827 01:41:13.039 --> 01:41:18.239 coming on. So what I would say, hello, car am 1828 01:41:18.279 --> 01:41:22.920 I own yes, I can hear you. Yes, okay, okay, okay. 1829 01:41:22.960 --> 01:41:25.800 So what I would say, sir is I think there's 1830 01:41:25.800 --> 01:41:30.079 no finality in my view to that. As earlier as 1831 01:41:30.640 --> 01:41:33.840 yesterday or so, I was at the Central Bank on 1832 01:41:33.920 --> 01:41:36.920 the same discussion. So they are I think the Central 1833 01:41:36.960 --> 01:41:39.600 Bank is working on a framework, and I think it's 1834 01:41:39.640 --> 01:41:41.880 in their wison not to not to hold us down, 1835 01:41:42.520 --> 01:41:44.880 to say, okay, go to the people that will regulated, 1836 01:41:45.239 --> 01:41:48.039 that will regulate and digital asset, so that we can 1837 01:41:48.159 --> 01:41:48.840 get sort. 1838 01:41:48.680 --> 01:41:50.439 Of moving and something moving, if. 1839 01:41:50.359 --> 01:41:53.039 You if you know, we are in the regulatory some 1840 01:41:53.199 --> 01:41:56.000 works to test the model. And again the two regulators 1841 01:41:56.039 --> 01:41:58.640 are talking to themselves, and I want to believe there 1842 01:41:58.640 --> 01:42:01.640 will be some kind of hansh before maybe later or 1843 01:42:01.720 --> 01:42:05.439 maybe not, depending And I would say this is not finality, 1844 01:42:05.520 --> 01:42:08.079 but for now, the way it stands is aware with 1845 01:42:08.199 --> 01:42:12.600 the SEC and we they are also talking together. But 1846 01:42:12.720 --> 01:42:16.359 again if there are questions from the Sibyan, we said, 1847 01:42:16.520 --> 01:42:19.079 we we also go to attend to those questions and 1848 01:42:19.199 --> 01:42:21.840 see if we can help as they do their framework 1849 01:42:21.920 --> 01:42:25.520 to make sure that this works properly, where most people 1850 01:42:25.560 --> 01:42:27.520 will have also learned from what have been the years. 1851 01:42:27.560 --> 01:42:31.119 But they are just too still doing the framework currently, 1852 01:42:31.560 --> 01:42:35.279 so I don't think it's a finality to say. Obviously 1853 01:42:35.359 --> 01:42:38.399 it's directly under secle for today, so it depends the 1854 01:42:39.199 --> 01:42:44.720 even the stable coin has different variants. So today we 1855 01:42:44.840 --> 01:42:47.520 started up with what we're called stable coin that we 1856 01:42:47.640 --> 01:42:49.680 use the money market phone to pack it, which is 1857 01:42:49.760 --> 01:42:50.640 directly under the. 1858 01:42:50.720 --> 01:42:51.640 SEC to regulate. 1859 01:42:52.119 --> 01:42:55.000 But we know naturally that the whole stable cord journey 1860 01:42:55.039 --> 01:42:57.960 we metamorphosing to payments and reels and cross border and 1861 01:42:58.079 --> 01:43:01.039 all those issues that some how we than the purview central. 1862 01:43:01.239 --> 01:43:05.039 But whatever our framework eventually comes up, we will also 1863 01:43:05.079 --> 01:43:11.640 working improperly. But today that's the regulatory situation assistance, Thank 1864 01:43:11.640 --> 01:43:13.680 you very much, sir, just kind. 1865 01:43:13.560 --> 01:43:17.039 Of go ahead, go ahead, okay, to add like a bit. 1866 01:43:18.399 --> 01:43:22.079 So our own our position. Really again, we can't speak 1867 01:43:22.159 --> 01:43:27.439 for the regulators. Our position is we are we talking issue, right, 1868 01:43:29.039 --> 01:43:32.079 and just like any of our talking right. And that's 1869 01:43:32.439 --> 01:43:37.600 how how different entities sort of intact we just talking 1870 01:43:37.960 --> 01:43:41.079 and use them really depends on you know, those entities 1871 01:43:41.119 --> 01:43:45.520 and their regulators. Right, we're probably speaking what we're just 1872 01:43:45.680 --> 01:43:50.439 talking issue and that that was there in the second moment. 1873 01:43:52.159 --> 01:43:54.680 Okay, fantastic. Let me see if you're a full show 1874 01:43:54.840 --> 01:43:59.560 is available to speak now? Full show? Gim we have 1875 01:43:59.760 --> 01:44:06.960 you all right, fund show where to get that? So 1876 01:44:07.079 --> 01:44:18.359 let's get go Chuku Urnu all right, I've let's get shape. 1877 01:44:19.039 --> 01:44:19.239 Yeah. 1878 01:44:19.680 --> 01:44:21.119 Hello, can you hear Nick Leny. 1879 01:44:21.159 --> 01:44:22.319 Yes, I can hear you. 1880 01:44:22.520 --> 01:44:27.319 Go ahead, Okay, great, thanks. Okay, So my name is Butchpool, 1881 01:44:28.239 --> 01:44:31.000 governor of asset Chain. I know the g and the 1882 01:44:31.079 --> 01:44:36.039 rest of the Engine team speaking about you know, blockchain 1883 01:44:36.079 --> 01:44:39.439 supporting c eng and I yeah, we're from asset Chain. 1884 01:44:40.119 --> 01:44:43.319 We built in the one blockchain you know from Nigeria. 1885 01:44:44.039 --> 01:44:47.319 We we've been able to support c Engine on our 1886 01:44:47.399 --> 01:44:50.239 private main net public maynaire should be out in a 1887 01:44:50.319 --> 01:44:52.920 few weeks. But yeah, something I just really wanted to 1888 01:44:53.000 --> 01:44:55.199 comment on is, you know, when a lot of people 1889 01:44:55.239 --> 01:44:58.840 talk about adoption I think the c eng and team 1890 01:44:58.920 --> 01:45:02.720 has done if fantastic job being able to create this. 1891 01:45:04.039 --> 01:45:06.239 When you look at something like Teta as the USDT, 1892 01:45:06.920 --> 01:45:12.279 you say that Tata actually became really huge from early 1893 01:45:12.399 --> 01:45:16.760 days of DeFi that's like the centralized financial protocols, right 1894 01:45:17.319 --> 01:45:21.600 like you needs to have a compound finance and finance 1895 01:45:21.680 --> 01:45:25.920 you could earn yield from stable coins, right like USDT. 1896 01:45:26.600 --> 01:45:30.479 And I think it's now on us to build very 1897 01:45:30.520 --> 01:45:33.800 good five proto calls that would allow c eng and 1898 01:45:33.880 --> 01:45:36.960 gain massive adoption. At this point, I don't really look 1899 01:45:37.000 --> 01:45:42.520 at it from the perspective of the everyday consumer, maybe 1900 01:45:42.640 --> 01:45:45.479 like someone entrain bike or something. 1901 01:45:45.560 --> 01:45:47.279 I think that's still. 1902 01:45:48.920 --> 01:45:52.159 Maybe months away, maybe years away. 1903 01:45:52.239 --> 01:45:56.640 I think first is for people who understand cryptotally. I 1904 01:45:56.680 --> 01:45:59.039 think it's from the noon to the unknown, right from 1905 01:45:59.079 --> 01:46:01.600 the guys that understand crypto first, to deal with it, 1906 01:46:02.319 --> 01:46:05.000 to use it in different systems, and to derive value 1907 01:46:05.039 --> 01:46:09.319 from it. Someone here was speaking about the what's it 1908 01:46:09.439 --> 01:46:13.359 called tokenization of assets? Right there are different things that 1909 01:46:13.520 --> 01:46:15.800 can be tokenized. I mean we have our money market, 1910 01:46:15.880 --> 01:46:18.760 we have things that any yield right at skill in 1911 01:46:18.920 --> 01:46:21.960 in with our with our current Ninjeri and NIRA I 1912 01:46:22.039 --> 01:46:23.760 think bringing a lot of these assets. 1913 01:46:23.439 --> 01:46:24.439 On chain is a big deal. 1914 01:46:24.560 --> 01:46:27.800 And at this point you don't necessarily need the regulators 1915 01:46:27.920 --> 01:46:30.520 that much. I mean, you can break things with direct 1916 01:46:30.560 --> 01:46:31.920 letters down come for you. That's okay. 1917 01:46:31.960 --> 01:46:34.000 But the seer gene guys have done a lot already 1918 01:46:34.359 --> 01:46:37.840 with you know, breaking or surpassing the first regulatory hurdle. 1919 01:46:38.119 --> 01:46:40.800 It's not for people to innovate and build around c 1920 01:46:41.000 --> 01:46:45.119 n G and create reasons why people should use it. 1921 01:46:45.680 --> 01:46:48.640 Some weeks ago, someone was talking about, you know, building 1922 01:46:48.680 --> 01:46:52.439 a system that would convert their usd T to NAIRA 1923 01:46:53.039 --> 01:46:56.560 in a couple of minutes, an automated system. And when 1924 01:46:56.600 --> 01:46:58.640 I looked at this system, I commented on it. It 1925 01:46:58.760 --> 01:47:02.479 had some flaws that were caused by the person, but 1926 01:47:02.760 --> 01:47:06.119 flaws whether were caused by the traditional financial system, which 1927 01:47:06.199 --> 01:47:08.920 is connecting to banking APIs and all that. But we 1928 01:47:09.000 --> 01:47:11.880 see eng and all those flows are removed instantly. You 1929 01:47:11.960 --> 01:47:13.600 don't need to you don't need to connect to an 1930 01:47:13.600 --> 01:47:16.399 API because everything is going to happen instantly, right if 1931 01:47:16.439 --> 01:47:17.560 you're connecting. 1932 01:47:17.159 --> 01:47:19.439 To a liquidity pool in a dept. 1933 01:47:19.960 --> 01:47:21.439 Now, some of the things that might be saying, might 1934 01:47:21.520 --> 01:47:24.000 this quite strange for people who don't understand crypto. But 1935 01:47:24.520 --> 01:47:26.640 for people who get crypto, they will know that this 1936 01:47:26.840 --> 01:47:27.720 makes a lot of sense. 1937 01:47:27.960 --> 01:47:28.760 And these are the fects. 1938 01:47:28.760 --> 01:47:31.199 These are supposed to be the real off takers, right. 1939 01:47:31.560 --> 01:47:34.880 And then the corporate, the guys that trade made in 1940 01:47:35.000 --> 01:47:38.319 our Nigeria stock exchange and all that, because if they 1941 01:47:38.439 --> 01:47:43.239 see that, oh wow, there is lipidity when let's say 1942 01:47:43.279 --> 01:47:45.600 cee eng and and people are tapping into it, maybe 1943 01:47:45.760 --> 01:47:48.159 there is you know, a pool that trade c eng 1944 01:47:48.279 --> 01:47:51.520 and USDIT and they don't have restrictions like markets that 1945 01:47:51.640 --> 01:47:54.000 open on Monday and close on Fridays. They know that 1946 01:47:54.079 --> 01:47:56.560 these markets are open to for seven they can plod 1947 01:47:56.600 --> 01:48:00.920 into that market, trade even weekends. And I value these 1948 01:48:00.960 --> 01:48:02.920 are the kind of people that we need to also 1949 01:48:03.039 --> 01:48:06.159 build for. Right, So I think the whole cng and 1950 01:48:06.239 --> 01:48:09.199 adoption is a no brainer. We just think builders, just 1951 01:48:09.319 --> 01:48:13.279 like early days of DeFi twenty seventeen, twenty eighteen, we 1952 01:48:13.439 --> 01:48:15.720 need to now build on build a lot of DeFi 1953 01:48:15.800 --> 01:48:19.640 protocols that leverage c engen. Already there are some companies 1954 01:48:19.680 --> 01:48:23.359 already building that on our blockchain, right, and we're pushing 1955 01:48:23.399 --> 01:48:26.039 them really hard because you've see that it's something the 1956 01:48:26.119 --> 01:48:30.199 product that nobody else has, and everybody wants more money. 1957 01:48:30.199 --> 01:48:32.920 I'll give you an example. People still invest in on 1958 01:48:33.000 --> 01:48:35.520 stable currency and I know people will be like, Snira 1959 01:48:35.720 --> 01:48:36.560 is not the US dollar. 1960 01:48:36.680 --> 01:48:37.399 Yes, I agree. 1961 01:48:38.000 --> 01:48:40.239 Well, if you tell someone that they can end let's 1962 01:48:40.239 --> 01:48:45.239 say twenty percent APR in nyra or twenty five percent 1963 01:48:45.399 --> 01:48:48.600 or thirteen percent APR in Nira, and then the person 1964 01:48:48.640 --> 01:48:52.359 will probably end five percent in USD. A lot of 1965 01:48:52.399 --> 01:48:55.680 people might understand that there's still the risk, right that 1966 01:48:55.840 --> 01:48:58.760 Narra is quite unstable, but they will still are located 1967 01:48:58.760 --> 01:49:01.880 a certain part of their asset to that now because 1968 01:49:02.279 --> 01:49:04.560 they know that they can end a huge amount of 1969 01:49:04.800 --> 01:49:10.680 yield on it. And it's possible some some systems already 1970 01:49:10.680 --> 01:49:14.840 even pay huge amounts, right, So why don't wenown leverage 1971 01:49:15.079 --> 01:49:18.479 some systems like that and bring those assets on and 1972 01:49:18.600 --> 01:49:22.039 allow people and interests that are really high. And you 1973 01:49:22.159 --> 01:49:24.840 see guys converting their USDIT to c eng and to 1974 01:49:25.000 --> 01:49:27.800 end those interests, right, that's the truth. A lot of 1975 01:49:27.840 --> 01:49:31.000 people will do that. They might not convert their entire portfolio, 1976 01:49:31.079 --> 01:49:33.119 but they might convert in So these are just a 1977 01:49:33.199 --> 01:49:34.600 few points I wanted to point out. 1978 01:49:34.640 --> 01:49:37.800 I think what the C engine guys have done is really. 1979 01:49:37.640 --> 01:49:39.840 Great and I would love to come on you know, 1980 01:49:39.960 --> 01:49:43.680 vators and developers to build more DeFi pros leverage c Engen. 1981 01:49:43.920 --> 01:49:44.239 Thank you. 1982 01:49:44.960 --> 01:49:47.000 I think the next live question before you guys answer, 1983 01:49:47.039 --> 01:49:48.640 I was going to ask that question if it was 1984 01:49:48.760 --> 01:49:51.279 possible to stake or if it was too little to 1985 01:49:51.279 --> 01:49:53.680 talk about taking of the c and energy, If I 1986 01:49:53.760 --> 01:49:56.119 can stay, if I can put Nayra in the bank 1987 01:49:56.199 --> 01:49:59.359 and n interest and it is one for one, should 1988 01:49:59.399 --> 01:50:02.399 I also be about to put my c NG and 1989 01:50:02.960 --> 01:50:05.720 stake it and also an interest. Let me let you 1990 01:50:05.800 --> 01:50:07.920 guys speak. I've got you. You guys are all here, 1991 01:50:08.000 --> 01:50:08.680 Please go ahead. 1992 01:50:09.680 --> 01:50:10.920 Let me let me quick at jumping. 1993 01:50:11.920 --> 01:50:16.640 So yes, now, these these are these are products that. 1994 01:50:17.119 --> 01:50:18.359 Can actually be created. 1995 01:50:18.479 --> 01:50:21.840 I think we've seen a lot of the five products 1996 01:50:22.279 --> 01:50:29.159 right that's actually created sort solutions with high use and 1997 01:50:29.359 --> 01:50:29.600 all that. 1998 01:50:30.319 --> 01:50:34.359 And the beuty about this nowise it's more things like 1999 01:50:34.960 --> 01:50:35.880 you're taking. 2000 01:50:37.199 --> 01:50:42.880 Alone business online or on chain saying people want to okay, 2001 01:50:43.119 --> 01:50:48.760 people already having digital assets like bitcoin, they're storing it 2002 01:50:48.920 --> 01:50:51.720 or they're holding it as also value and all that. 2003 01:50:52.239 --> 01:50:55.880 Now with such with such digital. 2004 01:50:55.640 --> 01:51:02.119 Assets and with a solution like CD products like loan 2005 01:51:02.880 --> 01:51:06.960 and actually be created whereby you deposit. 2006 01:51:06.680 --> 01:51:10.640 The digital asset like bitcoin or any other asset that 2007 01:51:10.800 --> 01:51:14.600 is that you're holding, and you collect your loan in 2008 01:51:14.880 --> 01:51:18.159 even city engine, all right, So that is one very 2009 01:51:18.199 --> 01:51:22.720 big use case that people can actually build on. Then secondly, 2010 01:51:22.960 --> 01:51:28.359 one of the things we also need to help developers 2011 01:51:28.439 --> 01:51:30.720 and help businesses that will be integrating is we have 2012 01:51:31.920 --> 01:51:36.800 called a library like next decade, where as you as 2013 01:51:37.000 --> 01:51:40.119 a company that is integrating, does differy much as you 2014 01:51:40.159 --> 01:51:45.560 can easily integrate that library be able to create wallets seamlessly. 2015 01:51:45.960 --> 01:51:46.920 That's crypto wallets. 2016 01:51:47.640 --> 01:51:51.119 You'll be able to swap so in the crypto space 2017 01:51:51.279 --> 01:51:54.680 or stable coin, there's well got liquidative fragmentation, right, so 2018 01:51:55.359 --> 01:52:02.439 you have less stay engine on one chain and you 2019 01:52:02.600 --> 01:52:08.800 want to send a user c engine on another chain. Now, 2020 01:52:09.000 --> 01:52:11.880 what we did was to create a bridge system whereby 2021 01:52:12.239 --> 01:52:13.319 you can easily. 2022 01:52:13.439 --> 01:52:17.560 Do the bridging that you send. You can still send. 2023 01:52:17.439 --> 01:52:20.960 Your c engen that you have on a particular chain 2024 01:52:21.600 --> 01:52:24.560 to the chain of the recipients, right, So that's the 2025 01:52:24.640 --> 01:52:26.960 bridging system. So this is just to make it easier 2026 01:52:27.079 --> 01:52:29.520 that you're not locked in on just one thing that 2027 01:52:30.079 --> 01:52:33.760 the CNNG and system supports. You are with anatually mixus 2028 01:52:33.800 --> 01:52:37.000 of it all the gain that the CNNG and support. 2029 01:52:37.079 --> 01:52:39.479 So there are there are whole lots that's. 2030 01:52:39.840 --> 01:52:43.439 Been built around these defire products and come in and 2031 01:52:43.720 --> 01:52:45.920 create whatever they need to create. 2032 01:52:46.560 --> 01:52:49.920 There's a whole lot of possibilities. So this, like Victor said. 2033 01:52:49.800 --> 01:52:52.199 Earlier, is not on steroid. 2034 01:52:52.279 --> 01:52:56.399 That's anyone that wants to create innovative, protim ultraly. 2035 01:52:56.119 --> 01:53:00.760 Wrong, all right, all right, so so just want to 2036 01:53:00.760 --> 01:53:04.600 because so it's possible, it's in the pipeline for for staking, 2037 01:53:05.359 --> 01:53:07.960 like if I a stake c ENG and it's possible 2038 01:53:08.880 --> 01:53:10.840 if I take my money out to fixed deposits and 2039 01:53:11.479 --> 01:53:12.359 I can also end someone. 2040 01:53:12.520 --> 01:53:12.800 Is that going? 2041 01:53:12.960 --> 01:53:15.000 Is that also a pipeline. 2042 01:53:16.000 --> 01:53:16.199 Yeah? 2043 01:53:17.720 --> 01:53:21.159 Issue, but yes, I love someone I want. 2044 01:53:21.159 --> 01:53:27.079 Yeah, No, we have it on then finance, okay, exactly. 2045 01:53:27.600 --> 01:53:30.840 Yeah, so that's what I mentioned earlier. On the asset chain. 2046 01:53:30.920 --> 01:53:34.000 Minut's coming out in a few weeks. It's really it's 2047 01:53:34.079 --> 01:53:37.680 going to be life for everybody to to deposit here engine. 2048 01:53:37.399 --> 01:53:40.479 And any Yeah, so we're on where again, please. 2049 01:53:41.439 --> 01:53:44.800 On asset chain. It's it's we're ventually announced, it's on 2050 01:53:45.199 --> 01:53:49.119 our blockchain. Right, we have defied products launching on asset chain. Yes, 2051 01:53:49.199 --> 01:53:50.279 so you can deposit he. 2052 01:53:50.359 --> 01:53:53.920 Eng and yes, okay and get okay, very important to 2053 01:53:54.560 --> 01:53:57.960 know that. Okay, perfect, Let's get Shay. I've got Shay here. 2054 01:53:59.399 --> 01:54:05.880 He's his work crypt Can you hear me? 2055 01:54:06.960 --> 01:54:07.159 Ah? 2056 01:54:09.159 --> 01:54:12.159 Oh, she is doesn't Caliber Bitcoin Club? How are you 2057 01:54:12.159 --> 01:54:16.479 guys doing Calibar Calabar Bitcoin Club. She's just got ready 2058 01:54:16.479 --> 01:54:17.439 to speak Caliber Bilo. 2059 01:54:17.640 --> 01:54:18.079 We got the flog. 2060 01:54:18.119 --> 01:54:24.159 Go ahead, all right, believing in thee. My name is 2061 01:54:24.239 --> 01:54:28.079 she to do from Caluba. I wish I would heare 2062 01:54:28.119 --> 01:54:32.880 on my Andrew, but I'm found of Colabal Bitcoin Club. However, 2063 01:54:32.920 --> 01:54:34.960 I say yes my view actually and not start of 2064 01:54:35.119 --> 01:54:39.640 Clover Bitcoin Club. You know, first of all, I would 2065 01:54:39.760 --> 01:54:42.439 really love to comment betic engine. 2066 01:54:42.960 --> 01:54:44.560 I've been asking questions back. 2067 01:54:44.439 --> 01:54:47.039 And forth, you know when bitcoin I'm a big cooin 2068 01:54:47.119 --> 01:54:48.039 and foremost. 2069 01:54:48.319 --> 01:54:51.359 And I'd love to ask. I would love to ask 2070 01:54:51.439 --> 01:54:55.279 some specific questions. And first of all, when. 2071 01:54:55.319 --> 01:54:59.560 Are we seeing c NGC engine or Bitcoin network. That's 2072 01:54:59.600 --> 01:55:00.399 the first question. 2073 01:55:05.960 --> 01:55:06.800 Nobody saying anything. 2074 01:55:07.399 --> 01:55:09.119 I can hear you. You are asking when I do 2075 01:55:09.199 --> 01:55:09.840 you ask a question? 2076 01:55:10.039 --> 01:55:10.239 Yeah? 2077 01:55:10.279 --> 01:55:11.560 Go ahead? Is that the question? 2078 01:55:11.880 --> 01:55:12.079 Yeah? 2079 01:55:12.920 --> 01:55:15.359 Because I thought I would say something, okay, so to 2080 01:55:15.439 --> 01:55:15.880 go ahead. 2081 01:55:16.920 --> 01:55:21.520 We have been saying this is noron steroids, right, noron steroids. 2082 01:55:22.039 --> 01:55:23.159 For me, I think that's bad. 2083 01:55:23.279 --> 01:55:28.359 That's a very very bad slogan because practically only patriotic 2084 01:55:28.399 --> 01:55:29.800 people who want the air, right. 2085 01:55:32.159 --> 01:55:33.560 Aly, patratical who want the air. 2086 01:55:33.720 --> 01:55:35.640 So I think we should keep out the neron steroids 2087 01:55:35.840 --> 01:55:37.520 because when you're. 2088 01:55:37.000 --> 01:55:41.039 On steroids you mean inflation and steroids you mean you know. 2089 01:55:41.119 --> 01:55:43.239 Lots of things on steroids of which we don't want. 2090 01:55:43.399 --> 01:55:46.520 And also I want somebody asked this question but does 2091 01:55:46.560 --> 01:55:51.199 not answered explicitly, And I just wish morels could be 2092 01:55:51.239 --> 01:55:51.680 truded on it. 2093 01:55:52.159 --> 01:55:54.520 Now when you see reports in reporting back to. 2094 01:55:55.000 --> 01:55:58.079 I'm the second I really understand I could start to 2095 01:55:58.119 --> 01:56:01.239 be corrected that Gene is a secure because it's a 2096 01:56:01.279 --> 01:56:05.079 single issue, right, which means that there's a lot. It 2097 01:56:05.239 --> 01:56:06.640 has a lot to do with the SEC and the 2098 01:56:06.680 --> 01:56:07.680 CBL and all of that. 2099 01:56:09.279 --> 01:56:10.119 We see. 2100 01:56:10.159 --> 01:56:12.600 If if I want to do transactions, I don't want 2101 01:56:12.680 --> 01:56:15.880 usd T. I can't tach you the city for my 2102 01:56:16.000 --> 01:56:19.520 own personal use except maybe for you know, complex reasons. 2103 01:56:19.640 --> 01:56:21.960 I want to do stuff for businesses and all of that. 2104 01:56:22.319 --> 01:56:24.239 But I can't touch you s CIT because I know 2105 01:56:24.319 --> 01:56:27.680 I'm not safe and I know my ux City. My 2106 01:56:27.800 --> 01:56:30.079 phones can be seised, I know, I can be you know, 2107 01:56:30.279 --> 01:56:32.439 foos and all of that kind of stuff. Now, when 2108 01:56:32.479 --> 01:56:34.920 you guys keep using the world reports back, reports back, 2109 01:56:35.319 --> 01:56:38.359 what is the scope of reporting back to SEC? Are 2110 01:56:38.439 --> 01:56:41.359 we see if I get involved in the protest against 2111 01:56:41.399 --> 01:56:45.039 bad governors and the protest against you know, look I'm 2112 01:56:45.039 --> 01:56:47.760 suffering from I mean, got to the federal government right now. 2113 01:56:47.760 --> 01:56:50.119 A lot of people know, and I'm challenging the government 2114 01:56:51.479 --> 01:56:54.960 reasons for blocking and you're just having access to you know, 2115 01:56:55.000 --> 01:56:56.399 a lot of exchange and all of that. 2116 01:56:56.600 --> 01:56:57.840 I mean, that's the re booked the news. 2117 01:56:58.119 --> 01:57:00.920 But the question is if I see any as an engine, 2118 01:57:01.439 --> 01:57:04.239 am I safe or do I you know, have to 2119 01:57:04.319 --> 01:57:05.119 look up for others. 2120 01:57:05.159 --> 01:57:07.159 And that's why I keep asking why on bitcoin? 2121 01:57:07.640 --> 01:57:09.920 And lastly, what what are the fees? 2122 01:57:10.119 --> 01:57:12.479 I mean, can we know what the fee is? Are 2123 01:57:13.279 --> 01:57:15.199 CNG and c engines engen to other. 2124 01:57:15.119 --> 01:57:19.520 Apploggings you know, and all of that so very importantly, Also, 2125 01:57:19.840 --> 01:57:22.399 who are the founders of c gen? Like all you 2126 01:57:22.479 --> 01:57:25.199 said earlier, I love to see I'm proudly learning you 2127 01:57:25.319 --> 01:57:27.680 and no doubt, and I was very happy when CNG 2128 01:57:27.920 --> 01:57:29.960 came on, you know, but I love to know who 2129 01:57:30.000 --> 01:57:32.880 are the founders of c engine, what's their background story, 2130 01:57:33.199 --> 01:57:36.199 you know, what's their business? What what we see if 2131 01:57:36.640 --> 01:57:39.159 you know, in the whole c eng and and stuff 2132 01:57:39.199 --> 01:57:40.239 that is coming up and down. 2133 01:57:40.600 --> 01:57:42.199 And I'll use my mind for them for now. 2134 01:57:43.680 --> 01:57:45.079 Okay, I'm sure, I'm sure I'm going to come and 2135 01:57:45.159 --> 01:57:47.319 really give you a good answer. I've also just shared 2136 01:57:47.800 --> 01:57:50.680 a little rite up on CNNG and I just first 2137 01:57:51.720 --> 01:57:54.920 regulous stable coin a three developers I see here, WARP, 2138 01:57:55.079 --> 01:58:01.199 c B d C Limited in collaboration with Convexity, Interstella 2139 01:58:01.479 --> 01:58:05.399 and Alpha Greeks Tech. Maybe they'll tell you more, but 2140 01:58:05.439 --> 01:58:08.159 I've just shared that in case folks wants so google 2141 01:58:08.239 --> 01:58:09.880 them to know who about it. But I think it's 2142 01:58:10.119 --> 01:58:14.239 excellent questions, even though they've been asked before, but excellent questions. 2143 01:58:14.279 --> 01:58:17.760 So whoever wants to address those concerns can please. 2144 01:58:20.600 --> 01:58:24.079 Okay, so we'll just go thank you a bitcoining Calaba. 2145 01:58:25.720 --> 01:58:33.000 I think we are Calabana Calabar Bitcoin. Okay, yes, so 2146 01:58:33.520 --> 01:58:37.439 great again, just to start, we'll all be going us right, 2147 01:58:37.600 --> 01:58:42.560 everybody coming into this space. His grandfather is bitcoin, and 2148 01:58:42.680 --> 01:58:46.039 so we are fine and we're working with everyone to 2149 01:58:46.199 --> 01:58:47.439 make sure a bitcoin. 2150 01:58:47.960 --> 01:58:49.159 Actually we're talking with the. 2151 01:58:49.840 --> 01:58:53.159 Latin lab to see what can happen with everything gent 2152 01:58:53.319 --> 01:58:56.039 on Lighting network, and that talk is going on. 2153 01:58:56.720 --> 01:58:57.560 Unlet's see, I goes. 2154 01:58:57.680 --> 01:58:59.640 It's just that there's a lot of work maybe done 2155 01:58:59.720 --> 01:59:02.439 and are just starting just barely amount. But I can 2156 01:59:02.560 --> 01:59:04.800 tell you that the future is bright. 2157 01:59:05.479 --> 01:59:05.800 Again. 2158 01:59:06.000 --> 01:59:08.600 To address the question whether you are safe, I think 2159 01:59:08.640 --> 01:59:11.439 you're completely safe, but I will put a caveat that 2160 01:59:11.800 --> 01:59:12.600 same Jene. 2161 01:59:12.520 --> 01:59:15.159 Is used for legitimate purposes. 2162 01:59:15.920 --> 01:59:19.720 So if Jene is involved in money laundry, in terror 2163 01:59:19.840 --> 01:59:25.319 financing and all those issues, we are completely also be 2164 01:59:25.479 --> 01:59:30.720 able to use some other innovative compliance tools to make 2165 01:59:30.760 --> 01:59:33.279 sure that and this is not all the issuers but 2166 01:59:33.560 --> 01:59:37.560 every everybody that is take so take for example on 2167 01:59:37.680 --> 01:59:40.159 a quid acts for example, if you are really going 2168 01:59:40.359 --> 01:59:41.079 that you would be. 2169 01:59:42.640 --> 01:59:44.960 Able to do your clients. 2170 01:59:45.880 --> 01:59:49.319 But people have it today as pick today to you 2171 01:59:49.399 --> 01:59:52.039 today you can go swap. 2172 01:59:53.520 --> 01:59:54.960 John on pancake. 2173 01:59:56.319 --> 01:59:58.239 To those you are as good as safe in that 2174 01:59:58.520 --> 02:00:02.399 in that direction, and I to you which one is 2175 02:00:02.479 --> 02:00:03.079 the last question? 2176 02:00:03.239 --> 02:00:03.479 Again? 2177 02:00:04.159 --> 02:00:07.720 Who are the guys behind it? So the companies behind it? 2178 02:00:08.479 --> 02:00:14.239 Three uh Convexity. We started the project and I'm one 2179 02:00:14.279 --> 02:00:17.399 of the co founders of Convexity and Convexity. We have 2180 02:00:17.640 --> 02:00:21.039 a lot of things we've been doing within the space 2181 02:00:21.199 --> 02:00:24.720 and we are very serious pioneers within a lot of 2182 02:00:24.920 --> 02:00:28.319 corporate block chain use. We have been on the forefront, 2183 02:00:28.439 --> 02:00:32.439 like you, fighting for you know, teens that doesn't make 2184 02:00:32.600 --> 02:00:35.600 any sense to change for the eternality of the young 2185 02:00:35.720 --> 02:00:38.960 Nigerians to take opportunity of what the blockchain have got 2186 02:00:39.000 --> 02:00:41.560 to offer to make some economic benefit out of it. 2187 02:00:42.079 --> 02:00:44.439 And we've been in the forefront of educating. So we've 2188 02:00:44.439 --> 02:00:47.680 been educating. We've been talking about policymakers. We are not 2189 02:00:47.960 --> 02:00:51.159 running away and fighting them from a distance. We are 2190 02:00:51.239 --> 02:00:53.680 within and talking to them and why they have to 2191 02:00:53.760 --> 02:00:56.000 do it, because within that is how it has to work. 2192 02:00:56.279 --> 02:00:59.840 We've been involved internationally to work to see how the 2193 02:01:00.079 --> 02:01:03.159 frameworks globally in alliance and we're working to help to 2194 02:01:03.239 --> 02:01:06.920 make sure that alliance and for us, we are involved 2195 02:01:06.960 --> 02:01:13.000 with building technologies around blockchain. We supported companies that are 2196 02:01:13.039 --> 02:01:15.600 building it and we're building ourselves and changing a lot 2197 02:01:15.680 --> 02:01:21.439 of generation. That's for Convexity. Astella is currently they are 2198 02:01:21.560 --> 02:01:25.640 the builders of Band two blockchain and also working on 2199 02:01:25.760 --> 02:01:28.159 the Pan African payment settlement system to make sure that 2200 02:01:28.199 --> 02:01:31.159 the African countries is not dollarized and they'll be able 2201 02:01:31.199 --> 02:01:33.399 to be able to treat our bungerself with our local 2202 02:01:33.560 --> 02:01:36.600 currencies and they're working with Afraism on that. And so 2203 02:01:36.920 --> 02:01:40.399 it is the is the company with higher reputation. ALFA 2204 02:01:40.479 --> 02:01:43.399 Gig is a tech company that does a lot of 2205 02:01:43.479 --> 02:01:46.640 things around web Tree, build solutions and all that. So 2206 02:01:46.800 --> 02:01:48.600 we are the one and with a lot of partnership 2207 02:01:48.640 --> 02:01:52.079 with few other and other companies that are supporting a 2208 02:01:52.159 --> 02:01:56.239 different segments to make sure that the Seni stable comes 2209 02:01:56.279 --> 02:01:59.840 in a very regulated compliance and more serious and stable 2210 02:02:00.039 --> 02:02:02.960 and that can be very confident for people to actually 2211 02:02:03.119 --> 02:02:03.560 use freely. 2212 02:02:05.479 --> 02:02:08.640 Let me jumping on the reporting right, So you asked 2213 02:02:08.680 --> 02:02:13.800 the Calababic what what is being reported? So what's which 2214 02:02:14.520 --> 02:02:19.039 it's out there in terms of reporting. We have some 2215 02:02:19.159 --> 02:02:22.479 of it on our side correctly, like well I'm not 2216 02:02:22.720 --> 02:02:23.239 being minted? 2217 02:02:23.520 --> 02:02:24.399 What is been minted? 2218 02:02:24.960 --> 02:02:25.119 Right? 2219 02:02:25.279 --> 02:02:29.119 They exchanges that of taking an order. 2220 02:02:29.199 --> 02:02:31.359 So these are regumated. These are kind of. 2221 02:02:34.039 --> 02:02:35.520 Reports drawn from. 2222 02:02:35.760 --> 02:02:39.399 Approjects by the Bank of International Settlements I think they 2223 02:02:39.479 --> 02:02:44.880 call a project. Then the extra that states the kind 2224 02:02:44.960 --> 02:02:47.279 of reporting that should be going to regulate us when 2225 02:02:47.359 --> 02:02:50.439 it comes to a stable coins. 2226 02:02:50.520 --> 02:02:54.600 So we we already have that model before the Bank 2227 02:02:54.640 --> 02:02:58.640 of International Settlement came up with such a projects. 2228 02:02:58.720 --> 02:03:03.760 So it's not like we don't have this of the individuals, right, 2229 02:03:03.840 --> 02:03:06.840 retailers and all the stuff that is left for the 2230 02:03:06.960 --> 02:03:08.920 my chances that are of taking both. 2231 02:03:09.000 --> 02:03:15.039 For us, the reporting is the normals in circulation. What is. 2232 02:03:17.039 --> 02:03:20.239 For us rereading aloument things like that is what's that 2233 02:03:20.520 --> 02:03:24.000 contain in a report which I also some of them 2234 02:03:24.000 --> 02:03:25.439 are visible on our. 2235 02:03:25.439 --> 02:03:28.359 Side to go to our fantastic guys or guys hey 2236 02:03:28.399 --> 02:03:31.079 believe it or not, guys who've spent some time here 2237 02:03:31.279 --> 02:03:34.000 learning from you folks who've done about two hours in 2238 02:03:34.800 --> 02:03:36.920 Let folks go to bed. So we've got three guys 2239 02:03:36.960 --> 02:03:41.279 I want to speak, d unsatisfied and I believe there 2240 02:03:41.439 --> 02:03:44.399 is a ten on bitcoin. We're gonna let all three 2241 02:03:44.560 --> 02:03:47.720 speak so we can just take closing remarks. This is 2242 02:03:47.880 --> 02:03:50.159 such for us to learn, you know what we've lard 2243 02:03:50.199 --> 02:03:52.319 you guys to basically talk. I want to learn more 2244 02:03:52.359 --> 02:03:55.239 about this because it's all new and the us I 2245 02:03:55.359 --> 02:03:57.960 had about the Genius Act. They're also doing their own 2246 02:03:58.039 --> 02:04:01.279 thing over there to bring about the digital doll are 2247 02:04:01.520 --> 02:04:04.039 the CNBD and all that. So this is the world 2248 02:04:04.159 --> 02:04:07.279 is changing and we have to, you know, adapt to 2249 02:04:07.399 --> 02:04:09.239 what is going to happen. We can stay still, we 2250 02:04:09.319 --> 02:04:12.039 can we're going to use FIAT or or Bitcournercy scam. 2251 02:04:12.319 --> 02:04:14.399 We can't just keep on saying that. We've got to 2252 02:04:14.520 --> 02:04:18.720 understand what's happening. So we composition our portfolios and even 2253 02:04:18.800 --> 02:04:22.439 our companies to what is going to happen, because clearly 2254 02:04:22.640 --> 02:04:25.079 a change is going to happen the way we settle 2255 02:04:25.199 --> 02:04:28.720 payments internationally and even locally. So if the better we 2256 02:04:28.880 --> 02:04:31.079 are informed, as in, the better it is for us. 2257 02:04:31.239 --> 02:04:34.479 So lets us get d n M d V on 2258 02:04:34.560 --> 02:04:37.439 a called NMD. You're going to be first and we'll 2259 02:04:37.479 --> 02:04:39.159 take the other two. And then we just got to 2260 02:04:39.359 --> 02:04:41.760 vote of tanks by the foods that have been here, 2261 02:04:41.800 --> 02:04:44.359 So go ahead. So you've got the flow re pretty 2262 02:04:44.479 --> 02:04:45.000 and everybody. 2263 02:04:45.359 --> 02:04:47.520 Thank you Carlo J for wonderflow. 2264 02:04:47.560 --> 02:04:50.640 Butting to talk, I want to say very big kudos 2265 02:04:50.680 --> 02:04:55.079 to the e CNG and team and most especially to Charles. 2266 02:04:55.239 --> 02:04:58.319 I think I met Charles twenty two and MCB and 2267 02:04:58.840 --> 02:05:03.079 Sam being there happen to happy that terms just come 2268 02:05:03.199 --> 02:05:07.920 up with the steam INTI ideator to transform the ecosystem. 2269 02:05:08.960 --> 02:05:10.840 So I'm very curious because. 2270 02:05:10.680 --> 02:05:13.439 In that hapaton, we came up with an idea that 2271 02:05:14.640 --> 02:05:18.640 the then leadership of Civilian decided to. 2272 02:05:21.119 --> 02:05:21.520 Support. 2273 02:05:22.439 --> 02:05:25.800 We participated in the incubation program and we la'nt have 2274 02:05:25.800 --> 02:05:28.439 a product using the inn Era. But right now I 2275 02:05:28.479 --> 02:05:30.640 can't really say anything about the Inner. So my question 2276 02:05:30.840 --> 02:05:35.479 is how we'll see engine co exists with Inner? Right, 2277 02:05:36.039 --> 02:05:38.800 we know that in Ara was meant to address the 2278 02:05:38.920 --> 02:05:43.520 issues of financial inclusion, because then we're doing a financial 2279 02:05:43.600 --> 02:05:48.039 inclusions solution that would enable anybody to seamlessly provide value 2280 02:05:48.600 --> 02:05:52.359 to unbound people. Right, so you have an anti in 2281 02:05:52.439 --> 02:05:55.920 the village, you could like similarly use our solution to transfer. 2282 02:05:55.720 --> 02:05:59.840 Value from your from your inerra wor led to the 2283 02:06:00.279 --> 02:06:00.720 full number. 2284 02:06:00.760 --> 02:06:04.159 A unique idea, and that's really skilled. And then we 2285 02:06:04.239 --> 02:06:07.119 got into that incubation program. But because of I don't 2286 02:06:07.119 --> 02:06:09.079 really know what happened. I don't know, I can't really 2287 02:06:09.079 --> 02:06:11.640 say it about the Inner right now. So I'm curious 2288 02:06:11.800 --> 02:06:16.199 because and this is another stable coin launched kind of 2289 02:06:16.319 --> 02:06:16.760 like by. 2290 02:06:16.760 --> 02:06:20.640 Regulated entities, So what will happen? How is it going 2291 02:06:20.680 --> 02:06:22.279 to equisist with the Inner. 2292 02:06:22.359 --> 02:06:26.640 And then secondly, I think I like we go to 2293 02:06:26.760 --> 02:06:29.640 consent take on a program with more money, how we 2294 02:06:29.720 --> 02:06:35.039 can actually provide programmatically yield mechanisms. 2295 02:06:34.520 --> 02:06:38.239 Right for people to utilize. 2296 02:06:37.840 --> 02:06:40.840 The c engine and stake it or put it in. 2297 02:06:40.880 --> 02:06:45.239 Every protocol to kind of like yield some innings from that. 2298 02:06:45.880 --> 02:06:50.399 So I'm trying to like ask what are the plans 2299 02:06:51.039 --> 02:06:53.319 for because we have a lot of change right now, 2300 02:06:53.760 --> 02:06:56.279 we have so many changes coming up from assets in 2301 02:06:56.399 --> 02:06:58.880 and them based. I think I had that at some point, 2302 02:06:59.560 --> 02:07:02.000 what are the plants to kind of like them support 2303 02:07:02.079 --> 02:07:05.399 more chines and they make it interapprival for people to 2304 02:07:06.600 --> 02:07:09.199 We didn't want to bridge another chain and make it 2305 02:07:09.239 --> 02:07:11.960 kind of similars for people to have arturally assess and 2306 02:07:12.079 --> 02:07:14.800 the possibilities of the inner regardless of the chain your own. 2307 02:07:15.239 --> 02:07:19.960 So this is are the questions that I need clarity, clarification. 2308 02:07:20.159 --> 02:07:23.479 I think anybody can actually through more light on this. 2309 02:07:23.680 --> 02:07:27.319 Thank you so much and could do specially to be conversited. 2310 02:07:26.880 --> 02:07:31.920 In your things brilliant you want to take that. Thank you, 2311 02:07:32.359 --> 02:07:35.560 Thank you very much so for the for that for 2312 02:07:35.720 --> 02:07:38.560 that platform you build. I would say all you unit 2313 02:07:38.840 --> 02:07:42.359 is what char just mentioned to just reach out for. 2314 02:07:42.600 --> 02:07:46.079 So can your secan library for you to make sure 2315 02:07:46.199 --> 02:07:50.119 that what inerror does on your application, you can actually 2316 02:07:50.239 --> 02:07:54.640 enable saying gien to perform that for you. Whatever the 2317 02:07:54.760 --> 02:07:57.680 inner the inner I think maybe if they come up, 2318 02:07:57.720 --> 02:07:59.520 if they center and come up with it again and 2319 02:07:59.600 --> 02:08:06.600 all that, it's simply just the same, just just I'm 2320 02:08:07.000 --> 02:08:11.239 residing on different rails. So you can take a c 2321 02:08:11.439 --> 02:08:14.039 eng in to those diffire protocols. You cannot take an 2322 02:08:14.079 --> 02:08:17.520 inner day because like I mentioned, that is a private blockchain. 2323 02:08:17.640 --> 02:08:21.000 They don't want to inter operate within those ecosystems. So 2324 02:08:21.079 --> 02:08:24.640 it depends on which network you actually want to use. 2325 02:08:24.760 --> 02:08:27.680 Tom power your solution, and I think most people are 2326 02:08:27.720 --> 02:08:30.399 moving to A three. Most people are moving to blockchain, 2327 02:08:30.680 --> 02:08:32.920 and I think it's good that you integrate that's decay 2328 02:08:33.359 --> 02:08:34.640 into the system. 2329 02:08:34.680 --> 02:08:36.760 I think my Alcolley would take the second question. 2330 02:08:42.000 --> 02:08:50.199 Okay, who's going to happen that? Should? Should? Should we 2331 02:08:50.239 --> 02:08:50.479 move on? 2332 02:08:51.319 --> 02:08:54.039 What was the question again, Carlum. 2333 02:08:54.279 --> 02:08:59.359 Dm DM DM W Did you want to have the 2334 02:08:59.399 --> 02:08:59.920 second question? 2335 02:09:01.760 --> 02:09:04.920 Yeah, I was talking about the programmable money and I 2336 02:09:04.960 --> 02:09:07.520 think they are clified already. I think we have really 2337 02:09:07.680 --> 02:09:10.600 I think we open computation channel with conversity teams, which 2338 02:09:10.600 --> 02:09:12.640 I also think we take it on from there because 2339 02:09:12.640 --> 02:09:14.479 I'm happy this is kind of like them live now. 2340 02:09:14.640 --> 02:09:17.840 So I think last generally we were in contact. 2341 02:09:17.479 --> 02:09:20.079 We created the worstapp chat where we were talking about 2342 02:09:20.199 --> 02:09:23.640 possible integration of MC engine, but I think we did 2343 02:09:24.159 --> 02:09:26.640 Like now, I think we're actually continue the conversation on 2344 02:09:26.720 --> 02:09:29.239 that wapp group. So yeah, So the haput question was 2345 02:09:29.399 --> 02:09:34.279 the possibility of integrating multiple chains, so that to address 2346 02:09:34.319 --> 02:09:36.520 the issues of liquiditive augmentation. 2347 02:09:37.039 --> 02:09:38.680 Right, so it's on this chain, it's not on this 2348 02:09:38.840 --> 02:09:40.359 change so this kind of thing. 2349 02:09:40.520 --> 02:09:43.960 So how do I know you guys started not quite 2350 02:09:44.039 --> 02:09:47.079 long So what are the long term plans to address 2351 02:09:47.239 --> 02:09:47.760 this issue? 2352 02:09:49.079 --> 02:09:52.359 Okay, I think I think the the protocols we have, 2353 02:09:52.600 --> 02:09:55.079 I think we for us, we have moved faster, and 2354 02:09:55.199 --> 02:09:58.840 I think it's because of demands. Most most typical projects 2355 02:09:58.880 --> 02:10:01.720 we possibly start and they will be on launching and 2356 02:10:01.840 --> 02:10:04.279 it takes longer time for them to integrate because of 2357 02:10:04.439 --> 02:10:07.920 cost and of course engineering requirements. But to the assistance, 2358 02:10:08.039 --> 02:10:12.439 we are on almost seven very popular protocols and many 2359 02:10:12.560 --> 02:10:14.920 people are acting. I think in the next a few 2360 02:10:15.039 --> 02:10:18.439 weeks we should be also going like on tron and uh. 2361 02:10:20.000 --> 02:10:20.479 Solana. 2362 02:10:20.800 --> 02:10:26.399 We're currently on ethelium polygon bus network, binance matching asset 2363 02:10:26.520 --> 02:10:27.399 chain band too. 2364 02:10:27.640 --> 02:10:29.000 You know. So there's a lot of change. 2365 02:10:29.319 --> 02:10:32.399 And so again we have building a muti chain transfer 2366 02:10:32.520 --> 02:10:35.560 protocol to make sure that people can easily work and 2367 02:10:35.960 --> 02:10:38.439 move between chains. So I think we have done that. 2368 02:10:38.640 --> 02:10:41.039 We didn't want that we were launching. But again a 2369 02:10:41.159 --> 02:10:43.960 lot will come and to just answer what you said. 2370 02:10:43.840 --> 02:10:48.159 Here, perfect love it. Okay, let's get unsatisfied. You've got 2371 02:10:48.199 --> 02:10:50.000 the flow sour satisfied legend. 2372 02:10:53.399 --> 02:11:00.439 Gem everybody and my brothers past, I am most satisfied agender. 2373 02:11:01.039 --> 02:11:03.079 Yeah, indeed, I want to give a posision to the 2374 02:11:03.840 --> 02:11:05.000 c eng and seam for. 2375 02:11:05.199 --> 02:11:08.159 Coming up with something like this. You know, anyway, three space. 2376 02:11:08.000 --> 02:11:09.359 Is not like people. 2377 02:11:09.520 --> 02:11:11.800 People kind of have their identities in. 2378 02:11:11.840 --> 02:11:14.760 This web three space mostly some of them. 2379 02:11:14.880 --> 02:11:17.520 That's that's why you guys might have had. 2380 02:11:17.439 --> 02:11:20.000 Experiences of racism on the use of it. 2381 02:11:20.840 --> 02:11:24.439 So you guys coming up and you know, probably coming 2382 02:11:24.479 --> 02:11:27.119 out two years, do something for the country, do something 2383 02:11:27.239 --> 02:11:31.079 for us. It's something heavily to appreciate. The stable coin 2384 02:11:31.399 --> 02:11:34.399 backs with Neyra is something amazing. They do different scenario 2385 02:11:34.439 --> 02:11:36.399 and dollar those different price. 2386 02:11:36.319 --> 02:11:40.680 Facts that we concuse ourselves. So I want to ask 2387 02:11:40.720 --> 02:11:41.600 a few questions. 2388 02:11:42.840 --> 02:11:48.119 First of all, is just as you guys talked about programmability, that. 2389 02:11:48.279 --> 02:11:51.800 Is builders coming up to you know, build. 2390 02:11:51.720 --> 02:11:57.199 Something with with c ENGM. How programming with this engine? 2391 02:11:57.319 --> 02:12:00.399 Like you know, when I want to make an maybe 2392 02:12:00.439 --> 02:12:04.800 an app eveleyment system, lending and boring, protocal eat C 2393 02:12:05.479 --> 02:12:08.960 or anything, how easily can I be able to integrate 2394 02:12:09.199 --> 02:12:12.800 this engine own chain, you know, not just like Pumpy 2395 02:12:12.960 --> 02:12:16.079 or other banks, Like how can I is it the 2396 02:12:16.119 --> 02:12:19.680 possibility of me doing things and it is verifiable on 2397 02:12:19.840 --> 02:12:21.960 thing just like the way I can very sadly use 2398 02:12:22.000 --> 02:12:26.600 the transaction. And also start of you may not be 2399 02:12:26.720 --> 02:12:30.840 funded and as you know, round the business or this 2400 02:12:31.039 --> 02:12:37.399 course the way are gerally welcomed or you know, is 2401 02:12:37.479 --> 02:12:40.319 it when you want to start with just run on 2402 02:12:40.439 --> 02:12:44.079 your own? You are not nearly affiliated to thine, Yes, 2403 02:12:44.159 --> 02:12:47.079 I know that very much. For then those of us 2404 02:12:47.159 --> 02:12:51.199 as developers, we are not so funded as you. 2405 02:12:51.279 --> 02:12:54.439 Know, we might have the products or we might not 2406 02:12:54.520 --> 02:12:55.239 have the funding. 2407 02:12:56.079 --> 02:12:56.840 What I mean. 2408 02:12:57.359 --> 02:13:02.079 Possible way of support or integration. And then about peer 2409 02:13:02.159 --> 02:13:05.600 to peer if if she meets the c e GM 2410 02:13:05.800 --> 02:13:12.039 to the easy it is I have to reconvert it 2411 02:13:12.199 --> 02:13:17.439 back to naira as if as she means it, Uh, 2412 02:13:18.359 --> 02:13:21.520 after I do whatever I want to do on other 2413 02:13:21.880 --> 02:13:24.199 changes like if I she meet it, I want to 2414 02:13:24.239 --> 02:13:27.239 treat the coin it's issy and after I don't the 2415 02:13:27.439 --> 02:13:32.079 ability of bringing it back to NIRA again, how physical 2416 02:13:32.239 --> 02:13:32.520 is that? 2417 02:13:33.239 --> 02:13:35.039 And then the antimate just. 2418 02:13:35.119 --> 02:13:41.039 Like I highlight highlighted earlier, especially about this closer security. 2419 02:13:41.520 --> 02:13:45.960 You know, some people come up with very good projects. 2420 02:13:45.560 --> 02:13:50.000 And at the end they get to wreck the trust 2421 02:13:50.000 --> 02:13:55.560 spreading them. You know, something like these audiits suppose the 2422 02:13:55.600 --> 02:13:58.119 way we can track and takes years that the people 2423 02:13:58.279 --> 02:14:01.119 actually this with this, but really fast. 2424 02:14:01.199 --> 02:14:03.319 These processes are many more. 2425 02:14:03.800 --> 02:14:08.079 And then about instegration with eco systems. 2426 02:14:08.800 --> 02:14:13.039 I'm a developer coming from it starts looking starts. 2427 02:14:12.920 --> 02:14:14.640 Delimiting between two. 2428 02:14:15.279 --> 02:14:19.520 So I'm hoping to see CNG and on the Bitcoin 2429 02:14:19.640 --> 02:14:21.119 network at least via starts. 2430 02:14:21.720 --> 02:14:23.560 So how okay? 2431 02:14:23.680 --> 02:14:24.039 I know that. 2432 02:14:24.239 --> 02:14:25.239 Yeah, you guys are working on. 2433 02:14:25.279 --> 02:14:29.960 It, just like you're highlected with runs as they issue. Also, 2434 02:14:30.079 --> 02:14:34.279 Jessica has also come to stacks. I really appreciate, you know, 2435 02:14:34.840 --> 02:14:38.279 bringing CNG using the James to get the starts to 2436 02:14:38.319 --> 02:14:41.159 open on from my own products. 2437 02:14:41.760 --> 02:14:46.119 That's the few questions I have to thank you all. 2438 02:14:47.119 --> 02:14:50.079 So you can see that the changes are unlimited. But again, 2439 02:14:50.279 --> 02:14:52.720 like we say, we want it to be everywhere, so 2440 02:14:52.840 --> 02:14:55.920 it should be. It should be everywhere, every every block, TAM. 2441 02:14:55.960 --> 02:14:57.680 We should be able to have SA there with time. 2442 02:14:57.800 --> 02:14:59.880 But again, like I said, we're just one one all. 2443 02:15:00.359 --> 02:15:02.640 I will try it as much as possible to accommodate. 2444 02:15:03.199 --> 02:15:06.680 How easy can you integrate? I would say as easy 2445 02:15:06.720 --> 02:15:09.520 as switching off a light bulb, you know, just click 2446 02:15:09.840 --> 02:15:12.600 with our execute our libraries. A lot of people are 2447 02:15:12.640 --> 02:15:15.880 doing activities with the people are integrating very similar. We 2448 02:15:16.000 --> 02:15:21.319 make it very good detail, very self explanatory, and as 2449 02:15:21.399 --> 02:15:23.520 developers you can actually quickly. 2450 02:15:23.399 --> 02:15:24.119 Just integrate it. 2451 02:15:24.560 --> 02:15:28.920 We currently support twit change, but we'll be adding like 2452 02:15:29.079 --> 02:15:33.640 you like you know, as the time goes on. Do 2453 02:15:34.159 --> 02:15:37.600 developers don't have phones? Again, we are also just starting up, 2454 02:15:37.640 --> 02:15:41.199 but again we're open to supporting very innovative solutions to 2455 02:15:41.359 --> 02:15:44.800 make sure that those solutions build pantastic use cases that 2456 02:15:44.840 --> 02:15:48.560 will push the adoption order for me. I think those 2457 02:15:49.000 --> 02:15:52.439 those are the questions I was able to pick any 2458 02:15:52.479 --> 02:15:53.720 other thing that I'm living up. 2459 02:15:56.920 --> 02:15:58.840 I think the last thing is how do you go 2460 02:15:59.000 --> 02:16:01.640 from seeing gentin So basically you off arms. 2461 02:16:02.560 --> 02:16:05.680 Oh okay, okay, okay, okay. 2462 02:16:05.760 --> 02:16:10.680 So yesterday, yesterday, just an example, yesterday I moved. I 2463 02:16:10.840 --> 02:16:13.720 moved about fifty thousand from my clock wal CNG and 2464 02:16:13.800 --> 02:16:16.199 now c eng and and what is the purpose of 2465 02:16:16.359 --> 02:16:16.720 moving it. 2466 02:16:16.800 --> 02:16:18.039 I want to send fifty. 2467 02:16:17.840 --> 02:16:21.760 Thousand to somebody's first barmy you be account. But the 2468 02:16:21.800 --> 02:16:23.800 person say, oh, I want you to send me this money, 2469 02:16:23.840 --> 02:16:26.039 And what I have with me at that point was 2470 02:16:26.079 --> 02:16:29.399 a c engn in trust wallet. So what I did, 2471 02:16:29.479 --> 02:16:33.159 if you remember when we were speaking, he said, there 2472 02:16:33.239 --> 02:16:36.440 are people building in a Vasis solution to enable seamless 2473 02:16:36.559 --> 02:16:39.360 few seconds of ramp at the maplop per twenty second, 2474 02:16:39.559 --> 02:16:40.799 fifteen seconds. 2475 02:16:40.719 --> 02:16:42.479 Ten seconds. Your money is in the bank. 2476 02:16:42.879 --> 02:16:44.559 What I did was just to collect a person's a 2477 02:16:44.639 --> 02:16:47.600 cant number, plan that money to no blocks, no blocks. 2478 02:16:48.079 --> 02:16:50.280 I saw young in a virtual that just built something 2479 02:16:50.319 --> 02:16:53.159 some weeks back and just putting the account number and 2480 02:16:53.319 --> 02:16:55.879 before you say it, few circles with the person and 2481 02:16:55.920 --> 02:16:56.680 the person confirmed. 2482 02:16:56.959 --> 02:16:58.920 So that's how easy and how similars it is. 2483 02:16:59.239 --> 02:17:01.159 So I want to see a lot of solutions around 2484 02:17:01.200 --> 02:17:03.360 that line to make it very easy for people to 2485 02:17:03.479 --> 02:17:06.399 move from do see engine in different networks and start 2486 02:17:06.520 --> 02:17:08.879 like you mentioned to anything to bank account. 2487 02:17:08.760 --> 02:17:10.239 In a matter of just a few seconds. 2488 02:17:10.280 --> 02:17:18.879 Really okay, looks good, looks good. Thanks and the last 2489 02:17:19.120 --> 02:17:22.559 guy to speak is going to be a bit coin blaze, 2490 02:17:22.920 --> 02:17:24.520 Cape Town, go for it. 2491 02:17:26.600 --> 02:17:29.680 Yeah, thank you very much, Calu, thank you, thank you 2492 02:17:29.799 --> 02:17:32.959 seeing GMT. So I just want to quickly say it, 2493 02:17:33.520 --> 02:17:35.680 do you anyways where we. 2494 02:17:35.719 --> 02:17:40.719 Can transparently verify if there is in what you guys do, 2495 02:17:41.120 --> 02:17:45.239 is their ways to verify that you guys are not 2496 02:17:45.440 --> 02:17:49.559 practicing the fractional reserve policy? 2497 02:17:50.639 --> 02:17:54.159 And also I would like to actually look at the. 2498 02:17:54.280 --> 02:17:57.920 Plans where you someone can actually send b TC and 2499 02:17:58.079 --> 02:18:02.479 a woman in your name markets can naturally receive c 2500 02:18:02.719 --> 02:18:06.879 ENG or NYRO equivalent when you say BTC, like are 2501 02:18:06.879 --> 02:18:07.639 the plans for that? 2502 02:18:08.440 --> 02:18:14.040 So yes, thank you, all right, excellent, Yeah, thanks that 2503 02:18:14.319 --> 02:18:14.639 very much. 2504 02:18:17.760 --> 02:18:22.920 So again, being being sort of regulated means that they 2505 02:18:22.920 --> 02:18:27.079 are very very high reserve standards for us. Right, So 2506 02:18:27.159 --> 02:18:33.840 what that means is literally speaking every single you know, 2507 02:18:33.920 --> 02:18:36.360 every single c ENG is back to the last couple, 2508 02:18:37.479 --> 02:18:41.000 we are detayed. We have like a custodian and uh 2509 02:18:41.639 --> 02:18:42.840 you know, we have assets manager. 2510 02:18:42.959 --> 02:18:45.200 So it's it's a whole very robust process I think 2511 02:18:45.239 --> 02:18:46.760 that that's really great. 2512 02:18:47.159 --> 02:18:52.399 Uh, you know running with regulated products is that they 2513 02:18:52.440 --> 02:18:55.760 are very again I mean this, it's it's unbelievably high 2514 02:18:55.840 --> 02:19:00.959 standards for for our reserve backet right for bitter c 2515 02:19:01.399 --> 02:19:07.040 to say engine of firms. Again, it's a lot of 2516 02:19:07.120 --> 02:19:10.200 these things really really would depend on on duders like yourself. 2517 02:19:10.280 --> 02:19:13.719 Right within the bit t C ecosystem. You ple add 2518 02:19:13.840 --> 02:19:17.639 geniuses to understand the ecosystem and to the level that 2519 02:19:18.200 --> 02:19:26.040 see engine is integrated, you know, course on doders like yourself. 2520 02:19:26.559 --> 02:19:28.799 For us, we are very open, you know, to anything 2521 02:19:28.879 --> 02:19:31.559 that the most can you do forward most danger afford 2522 02:19:31.719 --> 02:19:34.840 allows Nigerias and just Africans in general participate point in 2523 02:19:34.920 --> 02:19:38.920 the digital set right, Oh. 2524 02:19:38.840 --> 02:19:42.399 Your your your audio is breaking up real. 2525 02:19:44.040 --> 02:19:46.239 Oh apologies, apologies. 2526 02:19:47.680 --> 02:19:51.639 Made all the early points really gotcha? All right, folks, 2527 02:19:52.040 --> 02:19:54.239 let me just get you guys to sort of give us, like, 2528 02:19:54.360 --> 02:19:57.120 you know, closing remarks. You guys sent me a very 2529 02:19:57.200 --> 02:20:00.360 very interesting data point. I have more here, try to 2530 02:20:00.440 --> 02:20:02.559 share as much as you guys want to share, but 2531 02:20:02.639 --> 02:20:05.440 let's have closing remarks from you folks. I think most 2532 02:20:05.680 --> 02:20:09.479 most of us here are not crypto or even you 2533 02:20:09.559 --> 02:20:13.319 know it people, but we like what we're hearing, you know, 2534 02:20:13.760 --> 02:20:16.200 I like the fact that we're sort of keeping pace 2535 02:20:16.280 --> 02:20:17.000 with what's happening. 2536 02:20:17.360 --> 02:20:18.200 I like it or not. 2537 02:20:18.520 --> 02:20:20.680 If Innera had worked, this would have been a better 2538 02:20:21.079 --> 02:20:24.319 you know, pill to swallow inn literally work. You guys 2539 02:20:24.360 --> 02:20:26.639 are doing a little bit better. You've gotten the sect 2540 02:20:26.760 --> 02:20:29.879 behind you. I like that a lot are you are 2541 02:20:30.040 --> 02:20:32.600 just starting. You've done all this and this is just March, 2542 02:20:33.040 --> 02:20:35.559 like I say said in February, and I have achieved 2543 02:20:35.600 --> 02:20:37.239 all this, So I would just say keep at it, 2544 02:20:37.639 --> 02:20:40.600 you know, keep really at it. We need this now 2545 02:20:41.440 --> 02:20:44.239 for you know, the efficiency of payment in Nigeria were 2546 02:20:44.239 --> 02:20:47.360 also what happened about two years ago. So perhaps if 2547 02:20:47.440 --> 02:20:50.479 this is there and more folks start to build on it, 2548 02:20:51.120 --> 02:20:53.639 then we can really have some even Africans can then 2549 02:20:53.719 --> 02:20:57.239 take from us on adopt. I hear the comments about 2550 02:20:57.479 --> 02:21:00.200 exchange from dollar to naira, but I think the you'll 2551 02:21:00.239 --> 02:21:03.639 focus really should be on the efficiency locally. If we 2552 02:21:03.719 --> 02:21:06.639 can stop the use of cash because it's not safe, 2553 02:21:07.000 --> 02:21:10.959 and we can make this payment seenenerg where have achieved something. 2554 02:21:11.239 --> 02:21:14.559 If we can do CNNG and invest in CNERG and 2555 02:21:14.719 --> 02:21:18.479 get returns is taken, we've done something really a lot. 2556 02:21:18.559 --> 02:21:21.079 If we can get the market women, the kids out there. 2557 02:21:21.159 --> 02:21:24.159 I want to pay for jam, want to buy music. 2558 02:21:24.280 --> 02:21:26.959 To use this even taxes, you know you want to 2559 02:21:26.959 --> 02:21:28.920 pay your tax you can. Can you pay your tax 2560 02:21:29.360 --> 02:21:32.280 to legal state as all the other states. Using this, 2561 02:21:32.959 --> 02:21:36.479 can we get even allocations you know, paid fair salaries 2562 02:21:36.559 --> 02:21:40.920 to focus because if you pay the property payments through this, 2563 02:21:41.799 --> 02:21:44.360 you can track it. You can remove the waste and 2564 02:21:44.520 --> 02:21:46.959 fraud because then you can know who is receiving it. 2565 02:21:47.280 --> 02:21:50.559 It's going to specified wallet or phone or whatever. So 2566 02:21:50.680 --> 02:21:52.520 it's you know, it's it's you know, you remove waste 2567 02:21:52.639 --> 02:21:55.600 and fraud. So I like what I'm hearing, and I 2568 02:21:55.719 --> 02:21:57.239 want to tell you guys, I'm a friend. If you 2569 02:21:57.319 --> 02:21:59.120 guys have more stuff your on the share even after 2570 02:21:59.200 --> 02:22:01.360 the space, please feel free to come back and do that. 2571 02:22:01.479 --> 02:22:03.840 I can also just omit that. But let me give 2572 02:22:03.840 --> 02:22:06.520 you guys a floor to give your closing remarks whoever. 2573 02:22:06.520 --> 02:22:08.239 I want to do that, and then we'll just call 2574 02:22:08.239 --> 02:22:10.239 it today. Thank you so much, guys. I really enjoyed 2575 02:22:10.239 --> 02:22:11.760 the decision with you guys. So it's back to you 2576 02:22:11.840 --> 02:22:12.239 guys now. 2577 02:22:14.520 --> 02:22:16.040 No, thanks very much. 2578 02:22:20.920 --> 02:22:23.520 I'm very very grateful that you picked that interest in 2579 02:22:23.600 --> 02:22:26.719 this and you set this up for the community. Maybe 2580 02:22:26.760 --> 02:22:28.840 for us, it's been very helpful, you know, just to 2581 02:22:28.959 --> 02:22:32.159 listen directly and then that's really what I hear from again. 2582 02:22:32.879 --> 02:22:37.040 We are accessible really just to get as many people 2583 02:22:37.040 --> 02:22:40.639 as possible, you know, to build on this rights because 2584 02:22:40.840 --> 02:22:45.200 this success would really depend on on the community, right 2585 02:22:45.479 --> 02:22:50.479 and and the ingenious of you know, of Nigerians rights 2586 02:22:50.600 --> 02:22:52.680 and the builders in the ecosystems. 2587 02:22:52.760 --> 02:22:55.840 Yeah, we really really employ everybody. Please reach out to us. 2588 02:22:56.559 --> 02:22:57.719 Let's let's build together. 2589 02:22:58.040 --> 02:23:01.360 And yeah, curd really flow up and saying undus, well, 2590 02:23:01.399 --> 02:23:04.360 thank you, please, let's let's build. Let's build less, build less. 2591 02:23:04.200 --> 02:23:07.280 Built perfect. Reach out to us, all right, guys, and 2592 02:23:07.319 --> 02:23:08.680 don't want to want to say anything else. 2593 02:23:14.079 --> 02:23:20.440 Yeah yeah, yeah, go ahead, all right, thank you. I 2594 02:23:20.479 --> 02:23:21.600 would love to have our. 2595 02:23:21.600 --> 02:23:25.399 Says to be visiting to and you know, at least 2596 02:23:25.479 --> 02:23:30.760 maybe one of the explorer links is the transaction A 2597 02:23:30.840 --> 02:23:33.319 lots of play around in I'm looking into right now. 2598 02:23:35.680 --> 02:23:41.719 Okay, all right, got you guys. So guys, if that's 2599 02:23:41.879 --> 02:23:43.559 where we are right now, of because I want to 2600 02:23:43.559 --> 02:23:45.440 make sure this is recorded, it's going to be shared 2601 02:23:45.479 --> 02:23:48.040 after the space, so you guys can go back and 2602 02:23:48.399 --> 02:23:50.920 you know full up and what we've heard. The handles 2603 02:23:50.959 --> 02:23:53.440 are all in there for you guys to follow, ask learn. 2604 02:23:53.639 --> 02:23:55.319 That's the whole idea of the space is we want 2605 02:23:55.319 --> 02:23:57.280 to bring in folks that know what they're talking about, 2606 02:23:57.760 --> 02:24:00.280 teacher stuff, and then of course we can become better 2607 02:24:00.479 --> 02:24:04.120 investors of our money. We didn't get to Genius Act, right, 2608 02:24:04.200 --> 02:24:05.920 we didn't get to Genius Act. We try to keep 2609 02:24:05.920 --> 02:24:08.040 it very, very local. But that's going to have a 2610 02:24:08.079 --> 02:24:09.959 big impact. I believe in too, what we're doing in 2611 02:24:10.079 --> 02:24:13.280 Nigeria as well. Once the US basically signed off on 2612 02:24:13.440 --> 02:24:17.280 crypto on stable coins, there's going to be an adoption 2613 02:24:17.600 --> 02:24:20.479 across the world, whether we like it or not. We're 2614 02:24:20.559 --> 02:24:22.639 now part of the world, so we also have got 2615 02:24:22.680 --> 02:24:24.920 to respond. So this is very very good the young 2616 02:24:25.000 --> 02:24:28.159 folks in Nigeria stepping up again to create an industry. 2617 02:24:28.280 --> 02:24:31.600 Nollywood was created outside the government. This is also going 2618 02:24:31.680 --> 02:24:33.719 to be something big. Ten years we're going to say wow, 2619 02:24:34.079 --> 02:24:36.879 Remember we're starting this NGX and it was all this 2620 02:24:37.040 --> 02:24:39.559 and that. Now it's really big. We have built this 2621 02:24:40.000 --> 02:24:43.120 on top of it and we're creating jobs, efficiency and 2622 02:24:43.239 --> 02:24:45.760 revenues for Nigerian state. So I thank you guys for 2623 02:24:45.879 --> 02:24:49.079 doing this good job, keep at it and again guys 2624 02:24:49.120 --> 02:24:51.840 who will come back here next week to talk again 2625 02:24:51.879 --> 02:24:55.600 about sometimes about the economy, personal finance and of course 2626 02:24:55.680 --> 02:24:57.479 are investing and I hope you guys will join us. 2627 02:24:57.559 --> 02:25:00.479 My name is klu Aja, So you guys then have 2628 02:25:00.639 --> 02:25:01.040 a good. 2629 02:25:00.920 --> 02:25:01.840 One and buy. 2630 02:25:03.639 --> 02:25:04.479 Well weakly. 2631 02:25:05.440 --> 02:25:06.479 Thank you, You're welcome. 2632 02:25:08.520 --> 02:25:10.680 H m hm