In the months of 2021, the amount of Tanzanian trading in digital assets and blockchain-related products doubled. While most adoptions are born out of the need to make a profit, others are simply driven by the fear of not losing. However, so many countries across the country have stressed the need to reduce crypto risks. According to a guru in the blockchain space, Tanzanians should undergo training to protect themselves from crime in the sector.
Tanzania enters the crypto sector
According to blockchain experts, one of the most important factors for the acceptance of digital assets in the country is the positive signal from the country’s president Sami Suluhu Hassan. Compliance with this update in the country has strengthened them in a leading position in countries dealing with digital assets on the continent.
After the increased activity, the Bank of Tanzania has been talking about crypto risks in recent years. The blockchain expert in question, Sandra Chogo, believes Tanzania needs to do more when it comes to trading crypto risks. In his statement, Chogo said that investments and companies dealing with digital assets need to constantly publish accurate information about every service they offer, not try to sweeten it.
Specialists want to reduce crypto risk
Sandra Chogo has been in the blockchain space for over five years. He said he entered the blockchain space because he believed in the industry and saw an opportunity to make a difference. He also mentioned that he recognizes the risks of crypto and the threat it poses to people and industry.
With that said, he is determined to work closely with the government to educate traders and legal entities about crypto risks and how to avoid them. He also noted that pursuing blockchain education costs a lot of money, but has affected it over the years. Scammers and hackers have continued their malicious activities this year after last year’s wave. In the last few months of this year, hackers along with hacks in the crypto sector have embezzled about $600 million.