Crypto and Virtual Assets Forum

Attended a forum for crypto and Virtual assets in Uganda. We have had the keynote from the vice chairperson @FitspaUG @DoreenLukandwa and #FinancialIntelligenceAuthority representative. The discussion about #regulation, #risk, #policy and #activity in the crypto and virtual asset spaces. FIA started by giving an example of someone in the US who started a donation campaign and then diverted the funds through crypto wallets eventually channeling the money into terrorist groups in Syria. He then went to describe the nature of relationships that FIA establishes with payment processors helping them understand risks, compliance and company structure as well as reporting and the flagging of critical wallets or accounts. Special thanks to the team @fitspaug #CapitalMarketsAuthority@mudatech_ CEO Suleiman Muranga had made a compelling case on what the typical Ugandan user seeks after and why they are engaging in the space. The second part of the panel moderated by COO of @EzeemoneyUG Flavia Kasenge. Isaac Wabuge of @yellowcard_app on the applications that exist in the region.Some of the challenges existing in logistics in the last mile are also reflected in payment systems. Useful notes from @yellowcard_appThe last mile of delivery in countries that do not have a well designed mapping and post office service can be challenging. This is one of the reasons why Jumia and other food delivery systems have suffered or struggled. This has created an opportunity for those who have set up alternative systems with more knowledgeable mapping and location structure. Interestingly Fintechs and other payment systems also struggle with this last mile challenge. The yellowcard lead talked about how they were using their systems to connect international remittance companies with local payment systems like mobile money and mpesa this solving the last mile issue.