The recent Anambra Web3 Conference provided a crucial platform for the leadership of the Stakeholders in Blockchain Technology Association of Nigeria (SiBAN) to articulate a dual vision for Africa's digital future: one focused on responsible innovation within the regulatory grey zone and another centered on real-world utility that solves immediate economic problems.

SiBAN President, Obinna Iwuno, delivered a powerful keynote addressing the systemic challenge of building, while Roqqu CMO and SiBAN member, Ayo Shonibare, provided a fireside chat on the practical, life-changing applications of Web3 technology.

Obinna Iwuno’s address, "Regulation and the Builder's Delinma: Navigating Innovation in the Absence of Regulation" recognized that the African blockchain ecosystem is moving faster than regulators. This disparity, according to him, creates an uncharted territory where builders face profound risks.

Iwuno highlighted that thousands of young Africans are using blockchain to solve critical problems in payments, identity, and finance. Yet, they are forced to operate within yesterday’s legal frameworks, leading to a "Regulation Vacuum." “This vacuum is not freedom; it is uncertainty,” he stressed.

The President outlined four primary risks stemming from this vacuum: 

• - Legal Uncertainty which is the threat of sudden project shutdowns and loss of banking access due to ambiguous laws
• - Investor Reluctance where serious capital avoids African projects due to the lack of legal clarity and protection
• - Brain Drain which involves top African talent being forced to register startups in clearer jurisdictions (like the U.S. or Dubai), thereby exporting indigenous innovation
• - Public Distrust marked by the proliferation of scams and bad actors that kills innovation because, in the absence of clear rules, "the good guys and the bad guys look the same."

Iwuno argued that the solution isn't to wait for regulation but to build responsibly, advising the following key strategies for innovators: 

• - Prioritizing Compliance Literacy by making the understanding of basics like KYC/AML and token classification (utility vs. security) non-negotiable
• - Building Transparency by avoiding anonymity, as openness builds trust with users, investors, and regulators
• - Joining Self-Regulatory Communities because aligning with groups like SiBAN provides credibility, collective learning, and a channel for policy engagement
• - Focusing on Real Utility, as governments are more likely to support projects that solve real African problems (e.g., remittances, micro-payments), with Iwuno stressing that blockchain's legitimacy will ultimately come from usefulness, not hype.

He concluded by stressing that the way builders act today will determine the rules of tomorrow, urging them to help shape the policy instead of merely being subjected to it.

In his focused fireside chat, "The Future of Web3 in Africa," Roqqu CMO Ayo Shonibare reinforced the indigenous success story, shifting the narrative from speculative hype to tangible impact.

Shonibare emphasized the strength of African-founded brands like Roqqu, validating their growth by noting the fierce competition they draw from major global financial players, as his core message was that Web3 technology is quietly solving major African problems related to cost, speed, and access. Specifically, in Cross-Border Transactions, he powerfully contrasted the efficiency of crypto transfers often taking less than a minute with the slow, expensive traditional systems like Western Union, and regarding Accessible Finance, Shonibare pointed out that stablecoins have effectively become the "digital dollar" for many Nigerians and Africans, providing an accessible, dependable financial layer where traditional banking often fails or is inaccessible.

Addressing challenges, Shonibare acknowledged the hurdles of liquidity and the need for a mindset shift within the industry, urging marketers to move past speculative hype and build trust through simple, transparent education on utility and value.

Defining success, Shonibare cast a vision beyond high valuations, stating that true success is a future where every market woman, every small-scale farmer, and every cross-border trader can use decentralized tools with confidence and ease. He affirmed SiBAN’s commitment to bridging the gap between innovation and responsible adoption through clear, pro-innovation policies.

The combined messages from the SiBAN representatives underscored a unified commitment: to push the boundaries of technology while demonstrating prudence and ethical conduct, ensuring that African innovation not only survives the regulatory process but actively guides it toward a more inclusive future.

Become a part of SiBAN

SiBAN advocates for ethical practice, consumer protection, and innovation-friendly regulation, fostering a safe and inclusive environment for blockchain adoption across Nigeria and Africa. To be part of our association, send us a mail at membership@siban.org and join our free telegram community.