Cryptocurrency: “Public calls for funding to be terminated”

Noel Kouassy, ​​CEO of NK Group Technology, condemns the offers of investment and speculative investment, which are gaining momentum in Côte d’Ivoire using the spectrum of cryptocurrencies. This is especially so as the exercise of this activity is subject to the authorization of WAEMU.

(Cio Mag) – For the CEO of NK Group Technology, public calls for funds in the form of investments and speculative investments made to the public in return for high returns, which are invested and remunerated in cryptocurrencies, must be terminated in view of the number of losses caused by these investments, especially since cryptocurrencies themselves are very volatile and can cause huge losses. In addition, service providers offering such investments within the West African Economic and Monetary Union (UEMOA) do not have approvals for this purpose.

“Calls for funds for any investment in cryptocurrencies or on investment sites with a very high return, commonly called HYIPs, really need to be terminated because those who do not have an authorization to do so and present “a big risk on the investment of the people who follow it. If I do this kind of activity, I will become a counterfeiter,” insists Noel Kouassy.

It must be said that in the WAEMU area, investment offers and speculative investments are assimilated by the Regional Council for Public Savings and Financial Markets (CREPMF) with public calls for savings, especially due to seeking the public and raising funds from them. As such, the promoters of the said offers are encouraged to comply with Article 1 of the revised CREPMF instruction No 36/2009, which defines the conditions for a public tender for savings. As far as the public is concerned, it is encouraged to ensure that the mentioned promoters have an authorization or approval and to take a step back from the promises of high returns.

“In cryptocurrency, you do not give your money to anyone to presume to make an investment. Because cryptocurrency is not an investment, warns the director. Our goal is therefore to make people understand the world of cryptocurrency and the IT and technology projects that are evolving. through blockchain, and also to promote this technology. “


So Noel Kouassy to specify that blockchain is going to solve the problem of trust. “We are in a society where we can no longer trust anyone; people can be corrupt or in bad faith. So to guarantee trust, computer programs are therefore designed by agreement of several parties, and it is impossible to delete or change them “, he adds, before explaining the benefits of blockchain technology for Ivory Coast.

“We can create a public blockchain to solve the land problem in Côte d’Ivoire. It will no longer be possible to sell land to ten people. We can make a private blockchain for hospitals. A patient will be able to go to a second hospital for his medical follow-up, his previous analyzes will be available on the blockchain for his new attending physician, allowing for rapid treatment of this patient.A private blockchain can be designed for schools to certify and secure diplomas through a digital identity ( NFT) .Artists can also sell their works and make money effortlessly. All of this needs to be explored for even more sustainable solutions. “

Convert cryptocurrency

Entrepreneur in the digital finance sector, especially cryptocurrencies and the digital solutions that accompany them, the head of the company NK Group Technology raises public awareness on the sidelines of the launch of the Nkab-Exchange platform with the aim of converting cryptocurrencies into trust currencies .

“This platform allows you to exchange cryptocurrencies in CFA francs and vice versa. We are also working to include money transfer in this solution so that users can make international transfers, just from a mobile money account,” explains the director.

NK Group Technology, which specializes in the development of IT solutions, car services, transportation and trade, took a year to develop this platform to meet the needs of people who possess cryptocurrencies but do not know where to exchange them. CFA francs and vice versa.

Price volatility

But the “cryptopreneur” is not unaware that crypto asset providers are rightly or wrongly accused of fraud. That is why he wants to point out that the cryptocurrencies available on the platform are not all stable. Unlike stack coins (or anti-volatility cryptocurrencies), these can increase in value or decrease over time. He also invites people interested in cryptocurrency to train and seek to understand how it works. This is also the reason why Nkab-Exchange is setting up a face-to-face training platform on cryptocurrencies.

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