Why Franklin Peters of Boundlesspay believes Africa can be a blockchain hub
You could say that “Blockchain Expert”, Franklin Peters, has an in-depth knowledge of the technology’s technicalities. And in our interview with him, the digital marketer and software developer says blockchain is “love at first sight for him”.
The renowned crypto trader and community builder shares some of his experiences and offers several ways blockchain technology can make things better.
Before entering the crypto space, Franklin Peters was a student at the University of Nigeria, Nsukka. And the simplicity of the technology, especially its offerings for payments, was the deal breaker for him.
The crypto aspect and the fact that it could solve the problem of remittances and payments without any kind of discrimination and restrictions. In fact, I saw a lot of opportunity with it, given that Africa is heavily underbanked.
Franklin Peters
With the revolutionary features of blockchain technology, Franklin Peters still believes there are some downsides.
“One of its biggest strengths is the fact that it is censorship-resistant, transparent and secure. This provides an extra layer of security to users. On the other hand, the same characteristics are its weaknesses in the sense that it attracts a lot of bad players, but this can be mitigated if governments can adopt crypto-friendly regulations to protect the end users from the bad actors.”
Unlimited salary
Boundlesspay is one of the leading fintechs using blockchain technology. It is considered a secure application that turns mobile phones into mobile banking. With Boundlesspay, users can spend digital currencies across merchants globally, access crypto loans, pay utilities and invest in digital assets.
According to the founder and CEO, Franklin Peters:
“Limitless Pay came out of the passion to solve key problems in remittance. We decided to use BLOCKCHAIN because it is the only technology that allows us to express our creativity without minimal qualification and funding.
“I like to refer to Boundlesspay as a cryptofintech application as it seeks to solve problems related to payments, remittance and easy user onboarding. We created Boundlesspay to be user-friendly, fast, flexible and fun. This sets us apart from other platforms.”
Franklin Peters on crypto in Nigeria
Apart from being a crypto trader, Franklin Peters is a stakeholder in the Nigerian crypto space. He is the VP of the premier blockchain association in Nigeria, SIBAN. And Franklin describes the SIBAN experience as a great one.
“It has been a wonderful journey to be part of a community of people with the same values. I’ve learned, connected, collaborated, and most importantly, it’s given me a platform to give back to the industry in my small way.
“The challenge we have generally faced is to gain proper acceptance in the industry as a self-regulatory body. It took quite a while for it to make sense to our community, and with more education, partnerships and exposure, we will definitely gain full acceptance.”
Cryptocurrency is said to be illegal in Nigeria, but SIBAN as a blockchain association has been able to navigate and cooperate with regulators.
“Crypto is not legal in Nigeria, yes. The government put a restriction on the banks not to offer services to crypto users, but that does not mean an outright ban. After all, e-Naira is a form of cryptocurrency.
“Given the above, SIBAN always seeks to cooperate and work very closely with regulators to ensure that the service providers in our community are compliant. We also educate our community to uphold sacred uses of crypto that are permitted within the confines of the law. This has helped us stay afloat, regardless of the difficult conditions.”
Franklin Peters is the convener of Blockchain Vibes, an event centered around educating crypto and tech enthusiasts about blockchain technology. The premiere edition was held earlier this month, and Franklin Peters says the impact on the African crypto community has been huge.
“The event had a huge impact on the community mostly because we were able to draw the best global crypto influencers into Nigeria for the first time. This very move opened the gate for other foreign crypto players to want to visit and explore Nigeria/Africa. It also proved for the crypto community that anything is possible.”
Despite the obstacles, Nigeria and Africa have had their fair share of crypto adoption and acceptance. Franklin Peters predicts that this trend will definitely continue, and it can only get better.
“…because of how corrupt and underbanked Africa is, I think Africa needs Blockchain and crypto more than the rest of the world.
“Africa has produced brilliant blockchain products and services as well as smart enthusiasts who have helped shape the face of blockchain technology globally. I have no doubt that in the future Africa can be the hub of blockchain.”
The Future of Boundlesspay and Blockchain Vibes
Just like the internet has done over the years and added value to the world, I just want to see the space grow, succeed. I believe in building valuable products and services, and that’s what led me to build Boundlesspay, Blockchain Vibes and other projects. I will continue to do my best to support the space and see it evolve into something the world cannot resist.
Franklin Peters
