In episode 44, I spoke with Akin Sawyerr, Managing Director of Feleman Limited, a venture advisory firm focused on leveraging Blockchain technology to create value in underserved communities. We discussed the current state of the crypto ecosystem, the future money and work in the US and abroad on the continent of Africa and where we go from here. Specifically, we talked about Nigeria as a case study for how distrust in a political and financial system can lead to a shift where citizens opt-out to adopt other self-custody value transfer options.
For example, esusus (informal lending groups) are a popular means to create and protect wealth based on familial relationships or affinity groups, create a community of trust and honor that is “off the books” Esusus aren't digitized. But if they were digitized … perhaps they’d look A LOT like blockchain communities.
We explored what it would look like to digitize cooperative economics for the unbanked, underbanked and those who want an alternative hedge against government-issued money (aka fiat).
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Reuters 10/12/2021: Crypto Trading Thrives in Nigeria Despite Official Approval
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