Concordium™, the first layer-1 blockchain with built-in protocol level user identity, partners with the Fintech Association of Nigeria (FinTechNGR) to further accelerate and innovate on its blockchain solution made for the future economy.
FinTechNGR is a self-regulatory, not-for-profit and non-political organisation incorporated in Nigeria by the Corporate Affairs Commission (CAC) and a global body Global Fintech Hubs Federation member. It prides itself in working with over 200 corporate Pan-African and international organizations, notably with Mastercard, Flutterwave and The Nigerian Stock Exchange.
The Association was established to serve as a platform for developing the financial technology (“Fintech”) industry in Nigeria and to be a forum for exchanging ideas and disseminating information by and between various stakeholders in the Nigerian financial technology services industry.
For Concordium, membership in the FinTechNGR presents an opportunity to form relationships with Pan-African regulators who play a massive role in consolidating one of its many use cases, the financial services solutions. Moreover, the initiative will help increase knowledge and awareness of compliance-ready, public and permissionless blockchain technology. Businesses and individuals will be able to transact in a manner that supports regulatory transparency. Concordium helps them do so on the blockchain without disclosing sensitive financial information to external entities and allowing accountability to relevant regulators.
Concordium aligns well with FinTechNGR's goal of serving as a platform for financial technology development in Nigeria by building and supporting blockchain and fintech development in all areas, including Nigeria.
Lars Seier Christensen, Chairman of Concordium Foundation, says: With a personal family relationship to Nigeria, I am particularly excited about how we could help grow innovation and inclusion in Nigeria and the African continent in general. There are considerable opportunities to leapfrog many historical legacy problems we know in Europe, and we are therefore very pleased to join and support the efforts of the Fintech Association of Nigeria.
As a member of FinTechNGR, Concordium has the opportunity to participate in working groups that address issues that are crucial to it’s technological advancement in the Nigerian blockchain space and the cryptocurrency space as a whole, including regulation, Decentralized Finance, privacy, sovereignty, social justice and more.
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