Paris Blockchain Week rounds up on a very high note, providing great connections with some of the brightest minds in the industry, insightful conversations, and opportunities for individual and business growth. It was also an opportunity to reintroduce Quidax to an eager audience of Crypto traders and businesses for Crypto listings, API integrations and easy digital payments.
A major highlight of the event was the session with Buchi Okoro, our CEO & Co-Founder. Speaking on a panel with other industry leaders, Buchi shared valuable insights on “Next Gen Payments: The Blockchain Revolution”.
Leveraging his extensive experience in finance and his passion to make it easy for individuals and businesses to access cryptocurrency and make global payments, the session and his contributions were nothing short of engaging, relevant and thought-provoking.
Referring to the dynamics of the African market, the panel made a submission that “The improvement of internet access and the UI/UX of Web3 has a role to play in the adoption of blockchain payments, especially in Africa.”
More Than Just Payments
The disruption that is blockchain technology has revolutionised digital payments; offering decentralised, transparent and secure transactions across industries. Blockchain also facilitates peer-to-peer transactions without the need for intermediaries, thereby reducing costs, saving time, and improving trust in the payment ecosystem.
Without the presence of intermediaries, the transaction process is automated through smart contracts and settlements are almost instant across borders.
Moreover, one of the key features of blockchain technology is cryptography and this ensures that transactions are tamper-proof and transparent, making the risk of fraud or unauthorised access less likely to happen.
Blockchain technology has not only disrupted traditional ways of payments but also how we have conceptualised payments, therefore introducing the next-generation digital payments.
More than just payments, blockchain technology has also introduced innovations such as Decentralised Finance (DeFi) platforms that offer lending and borrowing services, and Non-Fungible Tokens (NFTs) which have changed how digital assets are owned.
While blockchain technology has transformed and is still transforming digital payments, it is not without its challenges, some of which include regulatory uncertainty and scalability. Additionally, low levels of awareness limits its adoption amongst individuals and businesses.
To bridge this gap, there must be educational and awareness initiatives to address misconceptions and to build trust. See the work Quidax is doing in this space here.
Companies like Quidax are right in the middle of the blockchain revolution, especially in Africa; pioneering innovative solutions in payments, facilitating seamless cross-border transactions and providing education that drives awareness and acceptance of cryptocurrency around Africa and the world.
Learn more here.
