By Najib Mulema

Billionaire Changpeng Zhao commonly known as CZ has tipped Ugandans on how to develop crypto currencies in the country.

CZ is a Chinese billionaire who founded Binance, the largest crypto- exchange in the world which on a daily basis trades $1.2 billion, and can handle up to 1.4 million transactions per second.

While meeting Blockchain Association of Uganda members at their offices at Nakawa Business Park on Monday, CZ revealed that if crypto currencies stakeholders want to popularize and develop the digital asset in the country they should engage universities and educate more youths about the advantages of the service.

To him, youth are better partners to work with since they are more ambitious and want to try out new developmental things.

CZ also advised people interested in starting-up crypto currencies not to over think while taking up the decision.

He says, “If you think something is good and productive just do it but if you over think, you may end up not doing it.”

Speaking about the unfavorable regulations against the digital currencies, CZ noted that stakeholders should always work within the available boundaries because if they wait for friendly regulations, they will not be able to make it in business.

The billionaire further promised to develop Uganda’s crypto industry through his Binance Labs to facilitate and finance startups.

“As Binance, we are not focused on returns, we want to develop the crypto industry in Uganda and the world at large,” said CZ.

During the same interaction, Helen Hai, a Goodwill Ambassador for the United Nations Industrial Development Organization (UNIDO) also CEO of Made in Africa Initiative revealed that Blockchain is the future of technology and it aims at creating million jobs for youth in Uganda and Africa at large.

Meanwhile, Blockchain Association of Uganda has organized the Africa Blockchain Conference which is slated to take place on 23rd and 24th May, 2018 at Kampala Serena Hotel.

Themed “the role of blockchain technology in Africa’s transformation”, the conference is aimed at positioning Uganda as the leading blockchain hub in Africa.

Billionaire CZ will be part of the conference.

Also among the key speakers will include, Governor Bank of Uganda, Prof. Tumusiime-Mutebile, the chairman of the recently formed Kenyan Blockchain Taskforce, Dr. Bitange Ndemo, CEO of BitPesa, Elizabeth Rossiello, CEO of Stanbic Bank Uganda, Patrick Mweheire, CEO of Binance, Changpeng Zhao and the executive director of the Bitcoin Foundation, Llew Claasen, are among the key speakers.