The SEC Director sees great potential for capital market regulation

The Executive Director of the Nigerian Securities and Exchange Commission (SEC) praises blockchain technology for its potential to improve and support the efficiency of capital market regulations.

Blockchain solutions for Africa’s challenges

Emomotimi Agama, executive director of the Nigerian Securities and Exchange Commission, praised blockchain technology and said it could streamline and support capital market regulations. Agama added that the technology is particularly useful in Africa. In Africa, communities tackle issues ranging from financial exclusion to public and private sector inefficiencies.

These bullish remarks about blockchain by Agama, considered a friend of cryptocurrency, are the latest in Nigerian officials to praise the technology. As previously reported by Bitcoin.com News, the Nigerian SEC is investigating the use of blockchain technology to build trust in the capital market.

After meeting with the Algorand Foundation delegation, Agama suggested that the deployment of blockchain technology will help overcome some of these challenges.

“I want to activate blockchain with efficiency. We want to be able to use it to regulate the market. My dream is to have all the information I need to work on blockchain “What we do is bring technology into our system for a seamless work effect and everything we do is traceable,” Agama said.

To help the SEC prepare for blockchain technology, the director made it clear that the committee is seeking the help of the Algorand Foundation. Eric Ragge, head of business development at the Algorand Foundation, said the team has already been sent to support Nigeria.

According to Lagge, he commented on the prospect of working with countries that combine major blockchain and cryptocurrency.

It’s an honor to be here. We’re here to explain blockchain technology and how it can help you work. We are here to democratize technology. It can be used freely and anyone can use it. Our job is to travel the world, discover where technology can be used and help people implement it.