 Welcome back from that break. As we take a look at what's happening in the crypto world and of course the Metaverse I have joining me right now a roommate, Dominic, certified blockchain architect and Metaverse expert. Many thanks for joining me this morning, Ruben. Thank you very much for having me. I'm grateful for my very good friend. Right. When I did my intro, there's a whole lot happening with Binance and of course the issue with Binance and Nigeria. Just walk us right through all that happened and how there was similarly a scam called Binance Nigeria and what's happening generally with that? Thank you very much. You know, truly when you are faced with certain challenges, you have a couple of bad actors trying to capitalize on these challenges, especially when you're a global figure, when you're a global company and we are one of the biggest and strongest player in the market. So recently, you know, the SC50 Security Exchange Commission, I've had a bit of a lost suit against Binance, Coinbase and Cranken, which are some of the biggest cryptocurrencies that are available in the world at the moment. And we see that the reason why they had that particular lawsuit against Binance is because they said that Binance was being involved in trading things like security. And for those of you that don't understand what security is, just like maybe a stock. Now, if you buy some stocks in the market, let's say Apple stock, Microsoft stock, Amazon stock, you expect these stocks to go up in value and then you're able to make profit from it. When you engage with cryptocurrency financial instruments, people are actually expected to buy into these different financial instruments and make some level of profit from it. So when this happens, the Security Exchange Commission consider that type of cryptocurrency immediately as a security. So they've had the exception with Bitcoin and Ethereum, but what of the other 25,000 different cryptocurrencies are available in the world in which some of them are traded both on Binance? So that made the Security Exchange Commission to actually slam a lawsuit on them. Then during that period that it happened, we now saw a couple of bad doctors, especially in Nigeria. I don't know if that particular personality originated from Africa, but the person was just trying to capitalize on the situation. And we even saw a tweet from the Binance CEO saying that truly we should not believe every single thing that we see on the news because the person was trying to paint a picture that Binance is actually an illegal company or listing here in Nigeria. We should see that Nigeria, which is one of the biggest cryptocurrency markets in the African space, will try to now draw some of their funds, maybe will draw some of their citizens from trying to engage with Binance. And a couple of people will be scared because there's a lot of fear on certain things that are doubted at that particular point, which we see Binance's revenue, which we see that. In fact, I was looking at some statistics and Binance had actually had over a hundred and something million dollars we draw in the last few weeks. And you can see that that is actually a lot for a business to lose because of just this type of news that's out. So truly it is actually an illegal entity that claimed that particular handle or that particular account, social media account to be able to spread that false means about them. And thank God that at the moment they are coming out of that situation, they've been able to turn the case around and count the position of strength and have a bit of leverage against the security exchange permission and right now also debunk down news, especially with the illegal practice of Binance here in Nigeria. And at the moment, they are looking a bit strong and pretty good to go in the market. So invariably things are now okay. Nigerians should still be confident in the fact that they don't have anything to worry about because how does this really play out on the image of the country, especially when Niger is one of the most active players when it comes to cryptocurrency in the world globally that is? It is actually a positive development when you see the CEO of a company of a global company like that has come to address it, especially with a specific region in each area like Nigeria being the biggest player in the African continent. It means that we should actually be happy and also try to understand that we actually have a very strong market position, especially in the cryptocurrency industry. And then I can't say just like your first question, if maybe every single thing there has normalized to normal, but you know, in cryptocurrency, wherever you choose to trade with your cryptocurrencies, your fund is a function of the user's choice actually. But one thing we advise in crypto is that you can always have it to be my keys, my funds. And the true reason crypto is decentralization, Binance is actually a centralized exchange and there's a possibility that any day Binance gets locked, maybe you might not have access to your funds. Let me just go down and see this is not the property of the FBI. I may not be able to withdraw your funds. So it is better for you to maybe start looking at alternative methods to start trading with decentralized exchanges, like maybe GMX, like maybe Apex exchange, that's the subsidiary of Bybit and a couple of other decentralized exchange like SuperAX that possibly would give you access to your keys and your funds at any time. Without seeing that maybe a security exchange commission comes to shut them down and then you lose access to your funds with my same electricity and increase somebody's hat much richer. Okay, fine. So let's leave on Binance for one minute and just try to come closer now to the country with all that is happening with our monetary policy, specifically the floating Naira or Naira float and of course the exchange rate and saga. In your world, the crypto or metaverse, how has this really impacted in crypto trading and cryptocurrency operations so far? Is it a positive effect or is it a negative one? Well, it's actually a mixed feeling at the moment. However, it is important for us to define terms so that the audience actually understand what the currency float is. Actually, it is just a bit of fluctuation in the value of the currency per time. And you see that in Nigeria actually the currency float of the Niger Naira, it would allow that its value would be determined by market forces. And truly for every economy that has actually allowed the value to be determined by market forces, which is the forces of demand and supply, they've actually seen a fair pricing rate, especially with the effects in that particular industry. It is good because when you look at the currency like Bitcoin too, when we pull it into the cryptocurrency industry, we see that it is actually a currency that is determined by the factors of demand and supply, even the fact that Bitcoin has only 21 million Bitcoin available. And the demand for that 21 million Bitcoin is actually what sets the price of Bitcoin to go up, which is currently at about 30,000 dollars today. If the currency, if Nigeria experiences a good economical time, then is that the value of the Naira will go up. And any cryptocurrency that has actually bought against the Naira will see that it is actually strengthening and appreciating over time. But the inverse could also be the case if the value of the Naira actually starts going down. But one major thing that is making it affect cryptocurrency exchange actually is the fact that there's something called liquidity in the market. Liquidity is the ability for you to be able to exchange your digital asset or your cryptocurrencies for cash at any point in time. And when you have maybe the economy going down and maybe the value of Naira is reducing, then you might see that a fair market pricing just like this one might see that there will be a reduction for Naira or user base in these different cryptocurrency exchanges that have pair to pair or people that actually supply like Naira to these different platforms to be able to trade this type of cryptocurrency. So it is a bit of a mixed feeling, but I think overall it is a good thing for the Niger economy to be able to have that type of fair pricing system and crash maybe the parallel market rates. We see that we are actually focused on trying to build the other sectors of the economy. Well said. Okay. So let me get your quick reactions concerning the latest that's on taxation on capital gains on digital assets. Do you welcome that development? Truly, that is actually one of the best news that I've read all week. What does government really need? The government needs every industry to contribute to the taxation policy of that, to the taxation of that particular country. You can say less like the evasion industry. Now there is a particular level of tax they pay to the government, the manufacturing industry, the cultural industry to have a level that maybe it is whatever is coming from the tech industry as well. Now we are seeing that the cryptocurrency is a new niche industry that is coming and is a trillion dollar industry. I saw in Martin's report that artificial intelligence which is tied to blockchain too at the moment will generate about 4.4 trillion dollars for revenue, which is actually much more than the economy of Spain, Mexico and a couple of other countries combined like that. And it is actually at the moment something that I welcome. I welcome it because overall it's going to be a very good thing for our economy. All right. So as we round off now with you Roma, let's talk about, you mentioned it in passing, that's artificial intelligence. Let's talk about how the role it plays in the entire native as a blockchain technology and all of that. What are we going to see different this time around? Okay. Just like we made mention of the taxation with the cryptocurrency and blockchain industry. You know that artificial intelligence is also a new sector that is all in new technology and niche coming. Now, government really wants taxation, right? And that's the money that they will be able to use to develop infrastructure with a new economy like the artificial intelligence industry coming in too. You can see that if you tax this particular industry, that's a 10% of 4.4 trillion revenue coming in in a month that is taxed by the government. We see that I'm making at least revenue in billions of dollars. And when they add, then they put our revenue back into developing hospitals, schools and all of those things. They will see that the rates are reaching for structural development and better living standard for the people is actually achieved faster because there's much more money to deploy. And that's actually one thing that that 10% taxation of the cryptocurrency industry will do. You also see that people will be, there will be actually much more investors to come into the cryptocurrency space and artificial intelligence space because they are now clear to go into this space and then they will just tax us 10%. When they tax us 10%, we'll give it to the government and we'll be able to do our business free and fair. All right. Thank you so much, Rume. Don't make that as much as we can take today's episode. Rume, don't make is a certified blockchain architect and metaverse expert. Many thanks for all of your useful insights as always on the show. We do appreciate them. All right. No problem. I very much thank you very much for having me. All right. My pleasure. Just before we go, I'll leave you with this feature. It's a digital economy and of course how we can deepen financial inclusion. I'm Justin, I'll continue to get business insights will return same time tomorrow at half past nine. Have a wonderful day ahead. Bye for now. In Nigeria, investors are taking positions or stakes in the country's growing tech ecosystem, internet penetration and reaching the large unbanked population. However, fintechs have been settled with challenges of financial inclusion, loans as well as digital security. Disruptions within Nigeria's tech space will be stared as digital banking makes its way into the fintech community through ghost mode banking. These features help to actually help to customers to encrypt their transactions. So in this sense, we are actually building features that will ensure security and above all, we are also using, we are also providing a strong security architecture that will protect customers data overall. And that's one of the reasons why we are actually going to talk about data privacy protection and security. So in the sense of it, if you actually even, even if you transfer to somebody who has a funny character or criminal character, or even erroneously, or you misplaced your, your gadget and they see that transaction, they, you are protected. If you are not trying to use that ghost mode fee. Full digitization processes mean that customers will not only be able to conduct transactions real time, but we'll also get much needed support online. Yes, the civilian has been clamoring for financial inclusion. And I just say that it is actually a very challenging project because I've experienced and I've been involved. The reason is that the cost of actually bringing these people on board is pretty high. And cost of doing, cost of ensuring that their transaction is done is pretty high.