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Hyperledger is committed to creating a safe and welcoming community for all. More information, please visit our Hyperledger code of conduct. So, welcome everybody to this new meetings, second one in row in 2021. My pleasure to introduce you to my friend Ido Wakinde from Lagos, Nigeria. So, you know, it will introduce us to not look on what's going on in terms of blockchain industry in Western Africa with a particular focus on Nigeria. So for me today is a very important meeting and I'll leave it to Ido stepping into detail on what is going on in the continent. Ido. Thank you Andrea. It's a pleasure to be here. Thank you for the privilege. I look forward to many more conversations like this. I'd like to quickly say that this is going to be an informal chat. Excuse me. I need to minimize those. I'd like to say quickly that this is going to be an informal chat. It's going to be more like a, like an interactive discussion, you know, rather than a monologue. And the purpose of this meeting is just to share the shared perspectives and discuss opportunities, challenges, and generally just, you know, take an overview, a 10,000 foot overview of the trade finance landscape in Africa, as well as the efforts so far to resolve some of those challenges through digitization aka blockchains aka Hyperledger. You know, so, so, so that's pretty much what we'll be discussing today. I have a few slides here, and I will start to share in just a moment. So, so having a technical glitch with my PowerPoint, it's not coming up. Andrea, could you open up yours, you know, just in case as a backup. You want me to share this. Yes, if you haven't already, could you share. I think I'm going to have a run crisis on my own. I can do it. I can do it if you want. I've got it on my hair. I can do it. Okay, so it's open now. Can you see it? Yeah. Yes, I can see. Okay. I think we're going to move forward. I think we've done. So I'll take you through where we are with basically come and present presenter mode. Why is it doing that to me? And we're going one, two, three, four, we're here. An informal chat. So, so I like to introduce myself as a, as a retired coffee junkie. And by that I refer to my hands on technical programming base, I started off my career some 20 years ago as a program used to write in languages that are now called dinosaur languages. But over the years, I've evolved into something of a product manager, sometimes engineering manager, sometimes VP architects, sometimes, you know, at the end of the day someone who manages your techies and who serves as a bridge between business people and tech people. So that's pretty much about me. I currently run Boolean Labs and we're a digital cooperation from. So, all right, so, you know, you know, if I, if I were to say the word Africa, okay. I mean, quite a number of, I'm aware that quite a number of images are subconsciously associated with that word all over the world, you know, people have all sorts of images about Africa. I have lived and grown here all of my life, about 40 years old, and I kind of know that there are different aspects to Africa. There are the, are the really, really, really hard hits and hardly seriously affected regions. And then there are the other parts of Africa that are quite frankly my opinion, some of the most beautiful places on this planet, and I think I've been around quite a bit. You know, I think I've been beyond sure of what it is. So, it's, it's always interesting for me, especially at opportunities like this to throw up the word, or rather throw up the question, what do people, what image comes up in people's minds so and I don't know if this is in tandem with the format of this meeting, but can we just get a few feedback from audience about what the word Africa conjures before I go. I mean, probably with 30 seconds or one minute. Can we do that? Okay, so can anyone, can anyone just, you know, tell us, can you just tell us what you think about Africa? When you hear Africa, what comes to your mind? I think you didn't hear many things. Obviously, Egypt, South Africa, the rugby, enormous, you know, as you say that Africa has always been from people, we've seen it from famine right to to boom to disturbances to mineral wealth. So it's, it's, and it is geographically, I don't think people realize because the way the map is look it's actually an enormous continent right. It's a very, very big place. Thank you very much. Anyone else. I mean, I'm three seconds ago someone else I'll just go on. Okay. I often find, thank you for that perspective. What I often find with conversations like this is that people usually probably the most common image right that people associate with Africa is the well, you know, is that place that has the least modern civilized modern civilization or modern civilized infrastructure in place. Essentially, what that means is the place with the least sophisticated the least developed cities and stuff like that. While that's maybe true, you know, because that is actually true. Africa has suffered a huge, you know, crisis of leadership over the last few decades where people have leaders have skipped on developing the needed infrastructure that you know is required to move the continent forward. But you see you can see that situation as either a problem or opportunity. Okay. And it's entirely a matter of perspective. The fact that millions of people do not have access to, for instance, electricity, which is basic in every, well, almost every other part of the world. It's actually an opportunity for whomever wants to volunteer to take up the challenge to solve the problem of electricity. And that's the reason I repeat for identity management reason I repeat for intercontinental trade reason I repeat for e-commerce logistics, all sorts of things. Okay. So that's where that's where I come in. Okay. And I'd like to show us a few examples of how we do tell into trade finance specifically. We'll see how, even though they look like challenges, they're actually opportunities because they have problems that are very, very solvable, given the tools the technology tools that are available in, you know, in 2021. Alright. The last point I want to say there is think about it. You probably will not be able to get the opportunity to affect as many lives as many people as many swads of people, you know, anywhere else in the world. Please move on. Alright. Okay, so if you look at it's often said in global trade forums and discussions that Africa alone contributes less than 5% of global trade volumes, you know, and a few reasons, you know, the experts a few reasons have been thrown up for that. One of them being no productive capacity. As we said, there's no infrastructure and therefore there's no production. You know, we like we essentially literally skipped out on the industrial revolution. That's just what it is. Even agriculture that is just starting to wake up to mechanization and farming and stuff like that and automation. The second point is high market access barrier so it's usually quite difficult for local players local African players to access global markets right for all sorts of reasons. Sometimes some of them, some of them protectionist by the destination regions. Sometimes some of them, you know, you know, as a result of factors on the continent. That point there is a high perception of risk by the rest of the world. And that's why I asked a question earlier about about image that comes up. So let's go to the next slide. Okay, but there is one question that is usually not asked. Okay. And that question is, or rather, I say there's one factor to the load the abysmally low volume of trade finance that occurs in Africa. That is usually not a record with and I, and I, and that single factor is access to trade finance for all sorts of reasons for immediate for a million and one reasons. It's just is the case that local players on the African continent have significant challenges accessing trade finance. I don't want to jump the gun but as we go on, I will see how, how many of those those things, please move on, how many of those things are come together. So this is what I mentioned earlier, the contribution is less than 5%. You can see how Europe, Asia, and North America are dominated. Let's go. Next slide. If you consider, if you look at the data, you see, you see that you see the trends, the trends tell you that generally speaking, there's a huge volume of trade that is going on in Africa. And that is not passing through the banks, okay, or through the structured financing mechanism, okay, banks, right. So, from this data set that I that that we're using for this discussion. And that, you know, approximately only 31% of total African trade was bank integrated. What that means, technically speaking, is that for the rest for the, for the really 69% or 70%. It has to be that those companies either it is a local company with a foreign client, but a local company with another local client. What I mean is that those clients, neither the, neither the service provider nor the service consumer are enjoying bank finance or third party financing. And what that means is that both of them are paying out of pocket. And ultimately, automatically also points to use like cash handlers, you know, and stuff like that, you know, lack of lack of an opportunity to enjoy the benefits of third party financing and other stuff. So, that's the second, that's the second trend that is observed with non-bank integrated trade finance in Africa. Let's go on. All right, you also observe that where you analyze the data again, that's approximately 60%, there's a disproportionate percentage of trade finance transactions, even those within the bank integrated ones that are skewed towards a certain crop of clients. So if you look into the, if you look into the data, you see that 60% of the entire data set for all bank integrated trade finance transactions are carried out by the top 10 banks, okay, the top 10 clients of those banks. What that means is that, you know, it's a, it's a, it's like a, it's like a mini oligopoly, right? You know, so essentially, there's a huge percentage of enterprises in Africa, all over the continent, that are not accessing, you know, trade finance, right? Yes, a bank may selfishly say, if 60% of my transactions are with these particular clients, right, so principle, I will focus on them, but that doesn't develop the ecosystem, doesn't develop the entire continent, doesn't develop the micro, it makes sense on the, sorry, on the macro, it makes sense on the micro, but it doesn't make sense on the macro. So the argument I'm trying to make here is, on average, only 28%, on average, 80%, even though 80% of enterprises in Africa are SMEs, they only account for about 28% of banks trade by trade, trade finance transactions. So if you look at that diagram, you see that on the left, you have the large pan-African corporates, you know, the big companies, SAVMila, the big companies, Dangute and so on and so forth. On the, on the second, in the second column, you have the international companies, okay, because they are international, they have foreign headquarters, they have lines of credit, they have ways of moving money around, or rather access to foreign, access to foreign. But the regional SMEs are the ones that are really, really bearing the brunt of this problem, because even though they are 80% of the, of the landscape by volume, by quantity, they are not able to access. So many times they are performing on their capacity, or they are, you know, taking unnecessary risks, you know, that they don't have to. In a few, in a few more slides, we'll see how some of these factors, what are the drivers behind these factors and how we can review them. Can we go on please? All right. Okay, so perhaps, you know, you know, the most interesting slide here is the, is the gap, okay, the opportunity. The observation has been that there's a, there's an approximate 90 to 120 billion dollar opportunity, which essentially points to trade finance transactions that are not, that are either, you know, be passed on, or are not being optimally operated or being optimally executed. Essentially, what that means is, you know, like the ones I mentioned earlier, where either the service provider or the service consumer, or both of them are paying out of pocket for their expenses, if they have all the eligibility criteria to qualify for third party financing, then why are they doing that? That's the first thing. And another subcategory of that would be those that are not even captured, right, captured in the net in the first place. Those that don't even have, you know, any kind of relationship with structured financing in the first place. And then the third category will be unexplored on discovered opportunities, either passed on because passed on by external parties that want to transact from Africa but don't, but can't find any trusted party, or passed on by local players because it doesn't look like it's worth their money and investment of their time, effort and money. You know, so experts, I'm not an expert, but experts have estimated the size of this market, the entire across the continent to be about 90 billion, between 90 billion at the worst case, and about 120 billion dollars on the best case. Next slide. So this is the last, this is the slide that talks about the reasons for these, these, these, this gap, this huge gap. Right. And again, prior to principle, right, start with, start with, start with the start with whatever factor, whatever factors are responsible for the greatest percentage of your outcomes, results or improvement efforts, remediation efforts. So the first segment of this pie, that's the green segment which is client worthiness if you think about it. What, what, what, what, what contributes to client worthiness client worthiness essentially is record keeping client worthiness essentially is verifiable records. Okay. Credit creditors. Okay, essentially financiers top party financiers banks and other other finance institutions, essentially, are able to make an answer global practice. This is the system to Africa, all over the world, financiers are able to make judgments about the worthiness or not otherwise, of a particular aspiring client, you know, someone who's applying for some type of credit, essentially based on records, either it's past historical financial performance transaction as records, or it's some kind of confidence score, or something from other records about that personal immigration records, you know, other societal factors and stuff like that. You know, but at the end of the day, client credit worthiness is essentially a derivative of how much data or or records are available about the particular same question, or the particular entity but as a personal business in question. So if you, if you really think about it, if you want to, if you want to, if we want to eliminate the, the, this huge factor that represents that 6% of this gap, which is client credit worthiness, then maybe we should start to think about, first of all, ensuring that there are records, and secondly, ensuring that those records are valid and verifiable. That will go a long way, in my opinion, to reduce this 36%, perhaps if we can reduce it by 50, 60, 70, 80%, then we'll done a good job. Okay. We're well on our way. So that's the first point that that's client credit worthiness. The second point is insubstantial collateral. Again, pointing to pointing to pointing to the huge deficits of infrastructure that I mentioned at the beginning of this conversation. What has happened over the decades is that successive, you know, successive governments, successive, you know, leadership regimes all over Africa have failed to establish systems of record, systems of asset records that can serve for collateral purposes. Okay, I'll explain. I'm a startup investor, well, I'm a startup mentor and advisor to a particular company that is right now digitizing the entire real estate in Nigeria and by extension Africa. Essentially what that company is doing is that we have, they've discovered, okay, because I'm an advisor, okay, they've discovered that there is a lot of value, right, that is trapped in real estate. There are a lot of landowners in, let's, let's even just focus on Nigeria. There are a lot of landowners in Nigeria, right, but they can't access credit because technically speaking, when they walk up to a bank, the type of asset that they own, even though it could be worth, whatever it could be worth, is not on the official list of approved collaterals, right, so a huge part of, again, because Africa has not been, again, because those systems of records that I mentioned earlier have not been put in place, it becomes difficult for local players to access, sometimes, generational, if they use the word wealth, okay, because it is wealth that's been handed over, you know, huge, huge, huge sorts of capital that are available and can be used as collateral, but it's just not available for use because the credit systems do not recognize those assets. The takeaway from that, my suggestion, my proposition, my ask for that is that we work, you know, to close the gap in the digitization, of course, it must also be accurate, there must also be a very high level degree of accuracy, digitization of non-traditional or rather non-traditional asset classes that can be used as collateral, and I think that if we take care of that, we would have done a good, would have beaten a huge chunk out of this 30%, you know, that's, that is a driver of the 120 billion gap. So if you look at my reasoning, my reasoning is, if we can take out 50% of this 36%, and take out another 50% of this 30%, and take out another 50% of this 11%, we would have done a good job to reduce this 120 billion gap, because hey, you know, that's part of the principle, you know, so let's just go to the next slide because I don't take too much of our time. All right. Okay, so, so given all of that background, I thought that it was necessary to highlight a few use cases, right? A few use cases of trade finance in Africa, trade finance projects, trade finance implementations, instances, you know, adoptions all over the continent, and you know, just for the sake of brevity, I have only three listed here. So I have been working down into two sessions. There are those that are foreign, foreign built and deployed locally, which are on this slide, there's SKU chain, you know, I think it was built in partnership with the UN, and then there's fast track trade, which is also active on the continent and then there's IBM. Oh, I have a trade lens here, I thought that was we trade, so we have trade lens and then there's we trade, which are both of which are IBM, IBM affiliated. Next slide. The second, the second set of use cases are locally built trade finance solutions that again built on Hyperledia, but you know, again, like I said, built locally and deployed locally as well. So Studium is a, is a, is a solution is a trade finance solution that is built by a company that I'm also affiliated with, based here in Nigeria, and essentially the mandate that the, the mandate is to digitize the entire workflow of trade finance from letter, from M letter of credit, the entire process, you know, it's a huge paper driven process they just want to turn that process into a highly digitized, highly referenceable, highly trustworthy bank repository of information. The second day is trade X trade X is also in Nigerian. Trade finance solution. And it's been, it's been adopted by one of the biggest in Nigeria, they have been in South Africa as well. So can we go to the next slide. So, on this slide I have here, a few, you know, talking points. Again, I thought I had imagined that this would be much more interactive I guess we'll have an opportunity for questions. When I conclude. But essentially, there are a few, there are a few opportunities that have been identified. Cointelegraph, you know, that means rather between the Middle East and Africa. Blockchain spending is likely to, I forget the exact figure now I don't have my browser right now, but the exact figure of blockchain is, blockchain spending is set to, you know, really surge by 400% essentially two years. The next, the next article there highlights we trade, which I mentioned earlier is an IBM solution, and it is now be used for open accounts trades. And if you're familiar with trade finance open accounts is a type of trade finance transaction. So for open account trade financing, trade finance transactions. And the third one there is a general overview of blockchain, the blockchain space, and, and of the trade, the trade finance space, and how blockchains are being used to either drive up efficient, reduce costs and improve profits for the players in that space. That's it. Thank you very much. Can you go to the next slide. All right. So, I just put this here to say, that's my overview. And if there are any questions, I can take them now. Okay. Thank you, that was really great. I mean, you pointed out a few very interesting problems. The trade finance specialist that been facing all of my career. And mainly, you know, the trade finance gap, which is huge, you know, according to everybody's sources. We have to find new models to fill in the gap. And of course, you know, the lack of information down in the continent is also a problem. If you use traditional methods that have been, you know, used centuries nowadays. So I'm wondering how blockchain step in order to fill in the gap. And I don't aim at you with an answer today, but you know, let's try to understand what can we do in order to solve this problem. Africa for me, according to my experience, which is quite large in the continent, the main problem is okay lack of information. It's a highly specialized market, namely in commodities and strictly connect to other core areas of the world that you pointed out. Namely, it's Middle East. Think about how many Lebanese people do leave and work in Western Africa as a whole. And also strictly connected Nigeria, in particular, with India, with the Indian continent. So don't think of Africa as just the continent, but think of Africa as a bridge towards other areas of the world. And, you know, I'll leave them to maybe Thomas Quasar wants to ask you something you sent me. I don't know whether he's still there. If he wants to give his own opinion on this respect. It's not there. And longer. Okay, so thank you Andrea. Thomas is trying to find a way to speak. Can you click on your mute on your mic? That should unmute you. Yeah. He looks muted. Yeah, it looks muted. But I cannot unmute him. Okay. Okay, let me try and. Let me try and answer his question that was typed in the, okay, he said he has a problem with the speech. Let me try and answer the question that he typed in the chat window. I was just responding to it. So Thomas said, so true, the problem is for financial institutions to find a way to take decisions based on new data and predictive models rather than breaking models. I mean, I mean, I mean, being a champion, being a promoter of emerging technologies, blockchain, artificial intelligence, data science myself, machine learning myself. That is just spot on. That is 100% spot on. That is absolutely no reason why banks and all financial institutions in 2021 should be evaluating, you know, credit applications using traditional 1970 1950s criteria. Right now, in fact, I think that the greatest class of the most promising class of. Of. FinTechs right now are those that are doing exactly what you've just mentioned here, which is taking an alternative perspective and alternative approach to how the banks on the other traditional financial institutions have traditionally done things so instead of thinking about, instead of thinking about creditworthiness and the other things that they do using the usual traditional criteria. You have all these FinTechs that are taking that are onboarding people that don't have banking accounts and therefore no traditional creditworthiness, and they are able to arrive at some kind of credit score using, you know, a non traditional financial system, whether it's a network, whether it's their phone telecoms network, or some other network or some other asset that they have. For instance, there's a, there's a startup here based in Lagos as a FinTech startup here based in Lagos that I consulted for in the middle of last year. And essentially what they're doing is that they are trying to turn the assets that Nigerians love so much and attach a lot of emotional value to which are their cards. They are trying to turn those things into collateral. So, rather than ask you for your credit history or your bank statements, they ask you for your ownership details for the cars that you own. Because in Nigeria, there is a sentimental attachment to vehicles or to cars. Nobody in Nigeria wants to own a car and use that car. And that's another conversation, another conversation in time. But, you know, if you can, if those traditional players can think creatively about, hey, there's a huge sort of people that were leaving out, you know, what, what can we think different, how can we think differently about how we are looking at them. I think that that's the core of Thomas's points. If I'm wrong, please correct me. And I think that that's a very good point. Thank you very much for raising that. Thomas, he was also adding a few notes. No, he said, hold on. What I would love is to see lenders investing in finding ways to finance as a means without long credit history, rather than asking as a means to become European look like. That's good points in my vision as well, you know, finding new ways. You also have to get a sort of legal infrastructure. And then that is I'm asking right now, you know, in Europe, we have the GDPR, we have so many things going on in terms of data production for both consumers and companies. How is the stages and I know the picture in Africa is more fragmented maybe then in Europe, but you have the European Union basically, what is the situation actually in Nigeria maybe as one of the most populous countries and the rest of the country to do. Okay. Okay, thank you. That's a very good. That's a very good one. So Nigeria does have a and I don't want to paint it as a copycat, but we have our own version of the GDPR. It's called the NDPR, you know, as you might guess, Nigerian data protection regulations. And essentially, it lays out the guidelines, it's still young, it's still relatively young, it's less than two years old, just or perhaps about two years old. And it's, it's, it essentially lays out the guidelines for how organizations, you know, just like GDPR, exactly how organizations who, one, collect to process three store data are to behave or are to their obligations to the owners of that data, the people from whom they collect that data, you know, and so on and so forth. So it does protect both the play, both categories of players that you mentioned, both the, both the, both the data collectors, both the service providers, and the consumers as well. So, so, so I can, I can speak of that for Nigeria. I can exact, I don't exactly know if I can, I don't know what occurs, you know, in other countries, but I know that Nigeria has the NDPR, which is a Nigerian data protection regulation. Actually, the perfect. Any other questions from the attendance in this respect, or any other subjects that would like to go deeper into Julian, what do you think? I think it's very interesting, right? I'm no expert on Africa. So I think it's more an Asia Pacific. But yeah, so what kind of timescale do you think that you gave about all the challenges, right? And of course, I see a lot of modernization of, I mean, from a China perspective, we see continuous modernization, right, of Africa, right, and Africa also. I think it's the second largest continent and the second largest population in the world, right? It's a very large place. So, so, so do you see increasing adoption of, of, of a leaping frog, you know, this opportunity to leapfrog technology. Do you think that's going to happen in this area, or is it? Okay, okay, so I like your question. I like that question. It forces me to, to be creative, forces me to be imaginative, right? And I like, you know, as Einstein said, imagination is greater than that. Yes, I believe that, you know, though the word leapfrog sounds slightly ambitious, okay, but I do believe that, yes, indeed, Africa can leapfrog, you know, you know, that this huge infrastructure gap, okay, and enjoying the rest of the world, at least somewhat, by taking a set of very, very general strategic steps, one of which is the, is a tunnel focused, you know, attention on digitizing records from identity records to, you know, you know, financial records to, you know, you know, land transaction records, you know, to customs and all, and all these things. A huge part of the, a huge part of the huge corruption that occurs, that has occurred in Africa over the last few decades is because people are able to hide on that effect that records typically generally do not exist, okay. And where those records exist, they are sometimes, you know, not tamper proof leads me to the next point to the next part of your question. In digitizing those records across many verticals across many spaces across many sectors, we must also be mindful to use tamper proof technologies like blockchain, which will give a high degree of confidence in the data as it comes in. So that people can safely transact with the institutions that are publishing that data, knowing that the probability of tampering with the inherent data in those systems is very, very, very minuscule, if not in, if not in timing personally. So yes, I believe that, you know, the two parts of your question, yes, I believe that we can live from. Number one, yes, I believe we can live from. Number two, we can only do it if we deliberately discard our old affinity for not recording things we must definitely start to write things down and record them in digital systems. We must leverage technologies like blockchain. And this is where I apologize and excellent choice because in my chart, I get up to production in short possible time. Yes, thank you. Okay, right. It's good. Thank you for your insight definitely. I think that's as good as possible. So any other questions from anybody else. You can ask questions via via the chat. I think you've given so much information you're everyone's. Does anyone else have a different opinion. That's not exactly. I should have held some back. I'm just messing with. And where do you see in Africa the most opportunity so you're in Nigeria is a West Africa. Obviously this thing's happening in East Africa as well. So whereabouts, most people, you know, whereabouts is the opportunity or all across Africa where do you see the greatest opportunity. You probably say Lagos Nigeria. Well, well, yes. I love Lagos. I should visit all of you should visit all of you should visit Lagos extremely, extremely fun. If you have the right guides, you have the kind of fun that you will be able to go you, you will be, you will be wishing to be planning your next trip, you know, on your way out. So the question. All right. But I think that I think that that question would depend on two factors. Okay. One is like I said earlier. If we can draw a direct line, if we can directly. You can directly map huge lack, lack of facility lack of opportunity lack of infrastructure can directly map it to huge opportunity that that that that that that sense me to want to answer that question. I'm not expecting which area has the greatest need or, you know, these digitizations and these recording systems are talking about. But then there's another part of me that wants to analyze it based on not just the need, but the readiness of those people to consume technology. And that's where I think I will need towards my, my country Nigeria, my stakeholders. Nigeria is full of data hungry. Nigeria, first of all, you know, has 70% of his population below 35. Right. So that's a massive youth population. They are extremely they watch they watch the watch TV, they browse the internet. They are data hungry. So even though they live in a place where, well, by and large, there's a lot of lack of infrastructure. So too, we won't with what's going on around the world. They know the top 10 in everything in the US and I'm talking music and video hits in the US and Europe and other places. So they have high expectations of their leaders and saw what happened last year. So essentially what I'm saying is they are ready. They say there's a readiness for this kind of transformation. If it happens right now, I can show you that you can run another region of Africa where they may not be that hunger just to it, even though the need is there. All right. Okay, great. I think there's also population of Nigeria is it 200 million or something, so a very large number. We speak in nobody news, but right now the estimate is a lot to 100 million. Because the sense of 150 and it's been a few years. So the charts are estimated right now to what do form other senses. And it's such a diverse country, you know you have different population from up north of the country to down south you have. Each country I don't think of Nigeria as a long country. You also have Ghana you have also every course you have so many countries over there, which are, you know, constantly striving in order to get free. Because their economy is strictly depend on Europe and are strictly connected, not only to the old continent, also China also to India, UK. So think of Echo was the large area over there as a massive opportunity in terms of technology. They're shaping up. Julian as I told you I know very well because of my past course being there so many times. And also think about what's north of it you know also shipping up think about Morocco think about the rest of the after that is definitely shipping up. The other side of Africa, East Africa is also following the same route into strictly connected to what we were talking about Middle East, also Africa region, and India as well. All these strictly connected. That's why blockchain in my opinion fits perfectly. And in trade finance. It fits even more. Thank you. Makes sense. Excellent. Like, you know, to ask something to do right occasion. So that again. I didn't hear the question, sorry. No, no, no, I was trying to get the audience to see whether anybody else wants to speak right. So, but I think I think we had it. Perfect. So we're seeing two weeks time. Thank you, that was a compelling presentation. Thank you so much. I appreciate it a lot. And so. Next, hyperlegit rate financing missing on 16th of February. Thank you. Thank you. It was great great presentation. Take care everybody. Hi, Kamalish. Hi, so I was listening all the conversation. Thank you, everyone. Thank you. Everyone's saying thank you on the chat. Thank you. All right. You rock. Thank you. Thank you. Thank you. Thank you. Thanks. You're in the house. Yeah. Sure. Who isn't at house these days. Come on. It's a COVID office. Long term for a year. I didn't recognize your house. So sorry. Yeah. I'm here for the year. I think we're here for another year. We'll see. We'll see. We'll see. We'll see. We'll see. We'll see. I don't know. I think we've done that way. All right.