Zone CEO Obi Emetarom Advocates For The Adoption of Blockchain Technology to Revolutionize Financial Services in Nigeria
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Obi Emetarom, CEO of Zone, is advocating for the adoption of regulated blockchain technology as a solution to the persistent challenges in Nigeria’s financial services industry. In a recently published whitepaper, “Regulated Blockchain: Infrastructure for Regulated DeFi, Foundation for a Golden Age in Finance,” Emetarom highlights how this innovative approach can address inefficiencies, enhance security, and improve regulatory compliance in the financial ecosystem.
Traditional financial systems (TradFi) continue to grapple with high costs, slow processes, and regulatory hurdles. According to a World Bank report, global remittance fees stood at 6.2% in 2023, well above the 3% target set by the UN Sustainable Development Goals (SDGs). These inefficiencies make transactions expensive and inaccessible to millions.
On the other hand, decentralized finance (DeFi), powered by cryptocurrencies, has struggled with trust, security, and regulatory oversight. In 2023 alone, crypto-related fraud and hacking incidents led to losses exceeding $1.8 billion, as reported by Chainalysis.
The Promise of Regulated Blockchain
Regulated blockchain technology merges the efficiency and transparency of blockchain with strict regulatory controls, creating a secure and compliant financial infrastructure. Unlike traditional cryptocurrencies, which operate outside government control, this model enables banks, fintech firms, and payment providers to harness blockchain for faster, cheaper, and safer transactions while staying within legal frameworks.
Key Benefits of Regulated Blockchain
🔹 Seamless Cross-Border Transactions – Reduces remittance costs and processing delays.
🔹 Enhanced Security – Real-time fraud prevention and automated compliance.
🔹 Increased Financial Inclusion – Expands access to financial services for individuals and businesses.
🔹 Regulatory Transparency – Enables better monitoring and oversight by financial authorities.
Emetarom urges policymakers, financial institutions, and tech innovators to embrace regulated blockchain as the future of secure and inclusive finance. By embedding compliance mechanisms directly into blockchain networks, this approach ensures that financial systems evolve to meet global standards while driving economic growth.
“The financial industry cannot afford to rely on outdated models,” Emetarom asserts. “Regulated Blockchain Infrastructure provides the foundation for a future where financial services are efficient, accessible, and built on trust.”
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