The first fully-fitted blockchain hub, with a standard crypto forensic investigation lab in West Africa, has launched in Abuja, Nigeria.
Dubbed Convexity Hub, the lab seeks to provide regulators with an expert-based channel for active government participation into the blockchain and crypto ecosystem in Nigeria amid the regulatory stand that looks at crypto as an easy tool that facilitates dark web illicit activities.
The lab was commissioned by Honorable Sheu Balarabe Kakele, a member of the Nigeria Federal House of Representatives, and coincided with the launch of Blockchain Nigeria User Group (BNUG) Abuja meetup and training for the ongoing Solana Season blockchain hackathon.
Speaking to BitKE, Adedeji Owonibi, CEO, Convexity Hub, said:
“At A&D Forensics, we are the only blockchain and crypto forensics firm on the continent and we decided to open up and partner with world-class analytics firms like Chainalysis.
We are exposed to investigating normal finances for international NGOs and we discovered that most of the funds sent to Africa, especially in Nigeria, do not get to the grassroots where they are mean’t for.
We decided lets have a platform where people can be educated and where young people can co-create, initiate, and ideate solutions using this transparent technology called blockchain.
This gave birth to Convexity.”
– CEO, Convexity Hub
So far, Convexity has created two blockchain solutions:
Speaking about the hub launch, Chimezie Chuta, the Founder of BNUG, said:
“”The blockchain technology hub is a bold statement by the industry operators, to show that blockchain technology has come to stay and that it is a technology and innovation of value which if government and private sector-based organizations can leverage, it will definitely accelerate their value delivery and off course increase their bottom line.
The Nigeria Blockchain & Crypto community, industry and ecosystem is strong and together. We will continue to beat our own paths irrespective of the hostile disposition of our policy makers and regulators.”
In addition, the Lab’s CEO, Adedeji, runs A&D Forensics, which has partnered with Chain Analysis, a globally recognized forensic crypto investigation firm, to create the world-class forensic lab where any kind of crypto transactions can be traced and to a higher extent, when possible, recover the funds involved.
Convexity Hub is open for innovators, blockchain, cryptocurrency, and industry leaders to explore, consult, and partner with its facility to build scalable projects; that way, Nigeria and Africa at large will transcend from being consumers to active developers and influencers of the blockchain and crypto evolution of the internet of money.