FOALENG FOKAM,Nigeria
With nearly 20 years of professional experience at the Central Bank of Cameroon where he holds the position of Senior Risks Analyst at the Trading Room, Mr. Georges Foaleng is the founder of the consulting firm Foaleng&Sonwa based in Lagos in Nigeria. Beyond traditional financial services, Foalengs is specialized in financial technologies such as Blockchain. Its ambition is to contribute to the financial inclusion of African populations by developing community cryptocurrency models and to promote banking access to African economies by finding mechanisms for optimizing the management of monetary portfolios integrating CBDCs (Central Bank Digital Currencies). As founder of Foalengs, Georges Foaleng has led various consulting missions in the field of blockchain (South Africa, March 2020) or financial risk management (BGFIBank Cameroon, June 2020); he is the author of scientific papers amongst them ““Blockchain regulation: From monetary monoculture to monetary ecosystem” in AFSIC-Investing in Africa, AFSIC – Investing in Africa. He has also be engaged in many talking session amongst which “The CBDCs landscape” (Cryptofest by the Bitcoin Events, South Africa, Johannesburg, October 2020).
Session: Are cryptocurrencies the future of social communities in Africa?
A look at the history of financial systems tells us that before 1789, there were decentralized financial systems in Europe. These systems gave rise to the existence of a variety of monetary instruments issued by different social groups. In view of the potentialities offered by blockchain and contemporary decentralized finance, it is a question of knowing whether, through the processes of tokenization of assets, social communities in Africa would be able to issue cryptocurrencies, thus paving the way either for a simple financial inclusion, but with real financial autonomy.
Learning outcomes:
- Decentralized financial systems
- Tokenization of real estate
- Financial autonomy
