Tanzanians are embracing cryptocurrencies but more work still has to be undertaken in order to reduce the number of scams in the industry, a blockchain educator has said.
In much of the year 2021, blockchain entities and proponents of the technology in Tanzania did much to bring this fintech to ordinary folks in that country. This has been either through roadshows or investment commitments. These efforts have also been bolstered by President Samia Suluhu Hasan’s apparent embrace of the technology.
As a result of such efforts, more Tanzanians are becoming acquainted with cryptocurrencies than in the past. On the other hand, increased cryptocurrency trading activities have also forced the Bank of Tanzania to once again warn residents of the risks they face each time they trade.
However, as Sandra Chogo — a Tanzania based blockchain educator — suggested to Bitcoin.com News, more work still needs to be done to ensure Tanzanians are aware of the risks involved in crypto trading. She also said the release of the right information about cryptocurrencies will boost efforts to reduce the number of crypto scams in that country and beyond.
Below are some of Chogo’s responses to questions that were sent to her to via WhatsApp.
Bitcoin.com News (BCN): Can you explain to our readers why you became involved in the blockchain advocacy work?
Sandra Chogo (SC): We are always looking for opportunities so I saw the opportunities in Blockchain. I also saw the risks especially of cryptocurrencies to citizens and to the monetary system. This made me want to share what I already had — in terms of knowledge — with government officials. I also wanted to educate (or inform) members of the public of ways they
