Blockchain, Telecom, Economic Freedom and African Leadership in Global Adoption Agenda – Insights from Oyedeji Oluwoye | The Guardian Nigeria News

Oyedeji Oluwoye, co-founder and CTO of Canza Finance, was a network planning engineer on the AT&T TP&E Global Technology and Implementation Team. His experience spans international and national design, analysis and modification of network components and architecture, which support the wireless and cable-based infrastructure.

MoveMint recently spoke with him about his involvement in the Blockchain industry since 2015. In this interview, he shares his insights on the intersection of Blockchain technology and telecommunications, Africa’s role in the global Blockchain adoption agenda, Web3 Policy, and the potential benefits of Blockchain technology for economic development in Africa.

Background and entry into Blockchain

For some years he was responsible for the capacity management of AT&T network transport products in India, Indonesia, New Zealand, Singapore, Thailand, Vietnam and Japan. As a Telco engineer and data scientist, Oyedeji is a leading advocate for Blockchain implementation in telecommunications.

With a diverse upbringing on two continents, Oyedeji is a global trotter who symbolizes a typical African fireball in the diaspora. When asked about his background and entry into Blockchain, Oluwoye revealed:

“My background is Australian, American and Nigerian. Born and raised in Sydney, Australia, then moved to the US in her teens. My parents are Yourba Nigerians from Osun State. From a technical trade point of view, I was a network engineer/data scientist. In 2015 for my Masters in Computer Science, I did a dissertation on Bitcoin and have been down the rabbit hole ever since.“

Five years ago, his proposal won the AT&T Blockchain-Backed Mobile Money Transfer Program Social Innovation Award. This recognition is part of the company’s Technology Innovation Pipeline Program.

Blockchain and telecommunications

As an experienced telecom engineer, Oyedeji sees the convergence of Blockchain technology and telecom as a huge innovation to come. In particular, he points to how the development will transform new economic frontiers.

“I see Blockchain technologies and telecom penetration as the driving force behind providing newfound access in underserved locations that breeds innovation and creativity, especially in emerging markets,” he said. “By creating and empowering opportunities for new solutions through Web 3.0 technology, we see this as the force that will help release the term ‘Emerging’ from ‘Emerging Markets’ and create a level playing field for the richest continent on earth.”

Blockchain and African Governments

When asked if it is Africa that needs Blockchain or Blockchain that needs Africa, Oyedeji replied: “Honestly, it’s equally two-way. I really believe that Blockchain needs Africa as the Real World exploitation will be unlocked from African markets and the exploitation of Real World

Assets (RWA) will have the most applications on the African continent.”

African governments have strongly opposed Blockchain technologies like Cryptocurrency recently. In his opinion on whether it is ignorance or fear of losing control, he noted:

“I don’t think it’s ignorance or fear of losing control. Cryptocurrency is just one application of Blockchain technology and many use cases have been encouraged that innovate the Blockchain technology ecosystem regarding Africa.

From his point of view, many things he has encountered have been positive regarding the technology of the so-called Dark Continent. In addition, Africa will gradually see more progress with government involvement.

Blockchain and Economic Freedom in Africa

With economic freedoms, Oyedeji recognizes that Blockchain technology can be fundamental in driving economic freedoms and development across the continent. The technology provides tools to remove third parties to reduce costs and increase transaction speed.

He points out how the permissionless aspect of decentralized finance allows for genuine development and economic freedom without restrictions imposed by traditional financial institutions. This approach is suitable for contributing to growth and development in emerging markets, especially when focusing on B2B.

Africa’s position in the global blockchain adoption agenda

However, Oyedeji, also a Forbes contributor, strongly disagreed that Africa would be left behind in the global Blockchain adoption agenda. He argued that many indicators point to the opposite and suggest that Africa is positioning itself as a leader in this industry.

“Not at all. Many reports are now focused on Africa, describing the use of blockchains, stablecoins and the use of the tools in the ecosystem,” Oyedeji illustrated. “I don’t think Africa will be left behind as I see Africa moving into a position of innovation on the global Blockchain agenda in the coming years.”

He therefore recommended a clear political framework that encourages innovation and will provide a fertile breeding ground for growth and development of new and innovative solutions. Such an approach can help provide the continent with the next generation of financial products and services, delivering a level playing field with the rest of the world.

Follow Frisco d’Anconia further Twitter to ask questions about Blockchain and Web3 technologies.