‘Nigerian environment perfect for web3, blockchain technology to thrive’

guardian.ng:

Mouloukou Sanoh

Mouloukou Sanoh is the co-founder of Cassava Network, a Web3 platform, which is keen on driving Web3 adoption in Africa, He was at Mansa Capital, an investment advisory firm that helps African startups raise funds. In this interview, he tells TOBI AWODIPE about Web3 adoption, why Nigeria is ready to explore the metaverse and why government regulation is needed to protect the space.

Crypto, metaverse and blockchain technology are emerging terms in Nigeria, but not many people know exactly what they mean and how they work? Blockchain technology can be considered as a second or even third iteration of the Internet; they are decentralised nodes that are immutable and this means they can’t be tampered with. Everything stored on the blockchain will remain there forever as it is built on decentralization, which means it is a trustless protocol in the sense that there is not one central party that controls it. Crypto can be considered as the fourth iteration of money, we progressed from silver/gold to paper cash, then digital currency and now to crypto.

In addition to being the co-founder of Cassava network, I am also an investment manager with the latter. The partnership is centered around blockchain courses, we’ll also be doing research with the universities’ I.T departments and hold boot camps; all in a bid to further education in the blockchain space. We are also releasing a book, The ABC’s of Blockchain, this quarter, explaining the basics of blockchain and giving examples. It will be co-published with PAU and given out free. Cryptocurrencies and the metaverse live on the blockchain.

What are the immediate and long-term benefits of the three for average Nigerians? Nigeria’s problems are Africa’s problems and