We caught up with PraveenKumar, CEO of Belrium Blockchain, which recently got accepted onto the Capital Markets Authority of Kenya (CMA Kenya) regulatory sandbox, the first blockchain solution to be onboarded.
We discussed at length, the belrium blockchain use cases, the sandbox onboarding process, upcoming developments and how Belrium is looking to service the African space.
Belrium Blockchain is now the only blockchain under the regulatory that is looking to offer an identity and digital assets solution to Kenya and the African market.
According to PraveenKumar, Kenya offers very forward-looking and innovative approaches to blockchain regulation. He believes that Kenya could be one of the leading regions in blockchain innovation if regulation is implemented well.
In this podcast, PraveenKumar breaks down the following for us:
- How are you doing amid Covid-19?
- What is the problem that Belrium blockchain is trying to solve?
- What opportunities exist in emerging markets like Kenya and Africa?
- Belrium is focused on getting governments and regulators evaluate how to leverage blockchain. Can you expound on that?
- How was the process of applying and getting accepted into the CMA Kenya regulatory sandbox?
- The regulatory sandbox only applies for products, services, and business models that are not clearly addressed under existing laws and regulations. What would you say is not clearly defined in law for your blockchain product?
- Another requirement is that admissions are based on their intent to offer innovative products, solutions, and services with the potential to deepend Kenya’s capital markets. Would you say Belrium qualifies in this regard and if so, how?
- Are you looking to test a crypto product in the regulatory sandbox?
- What other jurisdictions are you regulated in and how does that regulation look like
- Many startups and fintechs have attempted to apply but with no success. What informed CMA Kenya to consider Belrium for the sandbox?
- What are risks of not regulating innovative solutions like crypto and blockchain?
- What advice would you give to anyone looking to apply for a regulatory sandbox in Kenya and Africa?
- On a personal level, how do you feel about getting accepted into the CMA Kenya sandbox
- We hope you can talk with us, 3-6 months from now, to give us an update on the sandbox experience?
To learn more about Belrium Blockchain, check out rhe resource below:
- Belrium Main Website: https://www.belrium.io/
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