Crypto Currency: “Public Calls for Funds Must Be Canceled”

Noel Kouassy, ​​CEO of NK Group Technology, denounces the investment offers and speculative investments that are gaining momentum in the Ivory Coast using the spectrum of crypto currencies. This is all the more so as the exercise of this activity is subject to a license from the WAEMU.

(Cio Mag) – For the CEO of NK Group Technology, public calls for funds in the form of investments and speculative investments, made to the public in exchange for high returns invested and remunerated in crypto currencies, should be canceled given the the number of losses caused by these investments, especially since crypto currencies themselves are very volatile and can cause huge losses. In addition, service providers offering such investments within the West African Economic and Monetary Union (UEMOA) do not have approvals for this purpose.

“Calls for funds for investments in crypto currencies or on very high return investment sites commonly referred to as HYIPs really should be rejected because those who do this do not have the authorization empowering them to do so and are at great risk of the investment of the people who adhere to it. If I do this kind of activity, I become a counterfeiter,” emphasizes Noel Kouassy.

It must be said that in the WAEMU space, investment offers and speculative investments are equated by the Regional Council for Public Savings and Financial Markets (CREPMF) with public calls for savings, especially because of soliciting from the public and raising funds from them . As such, the promoters of the said offers are invited to comply with Article 1 of the revised CREPMF Instruction No. 36/2009 which defines the conditions for a public call for savings. As far as the public is concerned, it is requested to ensure that the said promoters have an authorization or approval and to step back from the promises of high returns.

“In crypto, you don’t give your money to anyone to make an investment, so to speak. Because crypto is not an investment, warns the director. Our goal is therefore to make people understand the world of cryptocurrency and the IT and technology projects that are developing through the blockchain, as well as to promote this technology. †

To trust

Next, Noel Kouassy specifies that the blockchain is coming to solve the trust issue. “We find ourselves in a society in which we can no longer trust just anyone; people can be corrupt or in bad faith. So to ensure trust, computer programs are therefore designed with the consent of different parties, and it is impossible to remove or modify them,” he adds, before explaining the benefits of blockchain technology for Côte d’Ivoire.

“We can create a public blockchain to solve the land problem in Côte d’Ivoire. It will no longer be possible to sell land to ten people. We can create a private blockchain for hospitals. A patient will be able to go to another hospital for his medical follow-up, his previous analyzes will be available on the blockchain for his new treating physician, enabling rapid care for this patient. A private blockchain could be designed for schools to certify and secure diplomas through a digital identity (NFT). Artists can also sell their work and earn money without hassle. All this has yet to be explored for even more sustainable solutions. †

Convert cryptocurrencies

Entrepreneur in the digital finance sector, especially crypto assets and the digital solutions that accompany them, the boss of the company NK Group Technology is raising public awareness on the sidelines of the launch of the Nkab-Exchange platform aimed at the convertibility of crypto – currency into fiat currency.

“This platform allows you to exchange cryptocurrency into CFA francs and vice versa. We are also working on including money transfer in this solution so that users can make international transfers simply from a mobile money account,” explains the director.

Specializing in IT solutions development, automotive services, transportation and commerce, NK Group Technology has taken a year to develop this platform to meet the needs of people who have cryptocurrencies but don’t know where to exchange them. other way around.

Price volatility

But the “cryptpreneur” is oblivious to the fact that crypto asset service providers are rightly or wrongly accused of fraud. Therefore, he would like to point out that the cryptocurrencies available on the platform are not all stable. Unlike stablecoins (or anti-volatility cryptocurrencies), these can rise or fall in value over time. He also invites people interested in cryptocurrency to train and try to understand how it works. This is also why Nkab-Exchange is setting up a face-to-face training platform on crypto currencies.

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