TL; DR Breakdown
- The specialist wants traders to learn about crypto risk
- Tanzanians are entering the crypto market
- The specialist wants to reduce crypto risks
Over the months in 2021, the number of Tanzanians that traded in digital assets and blockchain-related products doubled. While most of the adoption was born out of the need to make profits, others were just triggered by the fear of missing out. However, so many parties across the country have stressed the need to reduce crypto risks. According to an educator in the blockchain space, Tanzanians need to undergo education to be able to guard themselves against the ills of the sector.
Tanzanians are entering the crypto sector
According to the blockchain specialist, one of the most integral factors to the adoption of digital assets in the country is the positive signs from the president of the country, Samia Suluhu Hassan. Going by these updates in the country has cemented them in top position in countries dealing with digital assets in the continent.
Going by increased activities, the Bank of Tanzania has talked about crypto risks over the past years. The blockchain specialist in question, Sandra Chogo, believes that Tanzania needs to do more regarding crypto risks during trading. In her statement, Chogo mentioned that investments and companies dealing in digital assets must constantly release the correct information about any service they offer and not try to sugarcoat them.
The specialist wants to reduce crypto risks
Sandra Chogo had been in the blockchain space for an extended period spanning more than five years. According to her statement, she entered the blockchain space because she believed in the sector and saw an opportunity to make an impact. She also mentioned that she acknowledges crypto risks and the threat they pose to both individuals and the industry.
With this, she is determined to collaborate with the government to teach traders and entities about crypto risks and how they can avoid them. She also noted that her drive for blockchain education had cost her a lot, but it has been impactful for her across the years. Scammers and hackers carried on with their malicious activities this year, riding on the wave from last year. Towards the last few months of this year, hackers have drained about $600 million combined in hacks across the crypto sector.