Business

Cryptocurrency only way out of poverty for Nigeria youths-Dehkunle of Africa

Dehkunle of Africa, Cryptocurrency

Cryptocurrency, Omilana Adekunle John’s goal was to become an Instagram influencer when he started using social media but the lack of a sophisticated phone with a clean camera made her settle for Twitter.

In this interview, the social media influencer talks about how he achieved the same goal and became popular with the name “Dehkunle of Africa”, his digital marketing journey, cryptocurrency, #EndSARS struggles, and new projects among others. Excerpts…

Tell us a little about yourself and your journey into digital marketing?

I am from Ipetu-Ijesa, a town in Oriade local government area, in Osun State, southwest Nigeria. I recently graduated from Kwara State University, where I studied Biochemistry and I am 21-year-old.

Actually, I call myself an internet OG, I’ve been actively using the internet since I was 8 years old, but I later went to boarding school and that reduced my internet usage but as time goes on I fell in love with Instagram and I just wanted to be popular there but didn’t have a clear camera phone that I could use for those 15 seconds skit making but I was using the App actively.

I later started using Twitter and realized in more expressive in words than in visual content so I started getting popular on Twitter, then I took the google digital marketing course, and the money kept coming in.

So you studied Biochemistry but ended up as a digital marketer, do you have any plan for science career?

No, my plan for the future is all tech-related; digital marketing, coding, and software engineering.

Can you remember the first major campaign you handled?

I can’t remember the first one I led but the first one I worked on was with coca-cola, I was happy I got paid for my passion.

What is your area of specialization now?

Cryptocurrency and finance.

How is the journey so far, what are your good and bad stories?

I have my bad times too, but I’ve gotten to the point where I never let the bad get to me, I hardly even notice the bad because I can’t lie God has been by my side all the time.

Tells us brands, and celebrities you have collaborated with.

Big One exchange, Bybit exchange, and many others.

So you are also vast in Cryptocurrency, how did you venture into the Blockchain business?

Like I said earlier, I’m an internet OG, I was seeing all these things on the internet from way back but I was really young so I had no idea of how to get investment money but as soon as the money started getting in I went fully into cryptocurrency 2018/2019.

Under the Bitcoin cryptocurrency transactions, Nigeria comes 2nd yet the government has placed a ban on it, how are you guys coping?

Our government is being hypocritical about it, these crypto exchanges are registered businesses with offices in Nigeria, they pay tax to the government but the government banned banks from interacting with them, that’s unfair.

Crypto is the next big thing that almost everyone is talking about, do you also share the same belief?

It’s not the next big thing, it’s already the big thing.

Nigerians caught on to the cryptocurrency trend early on, and many were able to create opportunities for themselves, do you think if the ban is lifted, more youths will join?

Prior to the ban, Nigerian companies had begun gaining a foothold in the cryptocurrency industry and put up stiff competition to foreign service providers. In effect, the CBN ban has made the operation of these companies illegal, thereby removing them from the one trillion-dollar market where they had thus far created value.

The immediate effect of this will be the loss of millions of dollars of revenue to foreign competitors. Furthermore, cryptocurrency exchanges, like many other custodial services, operate on the basis of trust, which many may have difficulty recovering due to the abrupt nature of the halt in trading services.

The decision may also affect the inflow of foreign capital to the Nigerian technology industry due to a perception of unfriendly and inconsistent policies. But people are still joining with the ban, it has little effect.

Crypto enthusiasts have said Bitcoin and other coins are the future of money and are here to stay, what is your take?

Digital entrepreneurship, digital money, digital future everything digital is the future and FIAT really has no impact and no store of value for that also Bitcoin has been the most appreciating asset of the last 10 years, the next 10 years obviously will be bigger.

In 2020, Bitcoin independently outperformed all the other asset classes, including gold and diamonds, to become the most lucrative asset, why is the Nigerian government not looking at the good side?

I think the government knows the bright side and they also know how secure and private Bitcoin transactions can be and government always wants to be able to control the money going in and out of the country, so I believe that’s why there’s the ban.

Cryptocurrency has its risks, how do you mitigate these risks when you are investing?

There is a lot to talk about on this, but not sure this interview would cover it all but the summary of what I always say to people “don’t invest more than you can afford to lose “ could be crypto or any other type of investment always never “over-invest.“

Cryptocurrencies could be used for unlawful activity since the sender and receiver can’t be traced, what is your take on that?

Yes, the same as Fiat currency in fact money laundering has always been done with FIAT, with the US dollars also crypto exchanges have KYC where you verify your accounts with your IDs.

Should cryptocurrencies be allowed and closely regulated to curb illicit activities?

It’s already regulated.

Do you think we need a social media bill to checkmate the activities of social media users despite freedom of expression?

No, government and influential people will turn it into a tool of oppression.

You and other were at the forefront of the #EndSARS protest, its success and failure was due to social media, how can we make use of social media to effect change as youths?

Young Nigerians all across the country united around a common goal to end police oppression and brutality. We were everywhere and our protests showed us what can achieve as a people when we all come together and unite so I hope we are able to unite to elect better people in government as well.

Do you belong to any digital marketers’ bodies?

No, I’m used to the decentralized life of social media haha.

We still haven’t tapped into digital marketing, we do not have the courses in our curriculum, what is your take?

The education system in Nigeria generally needs a revamp, I’m not n expert in that field so I’ll just suggest people who have good suggestions can collaborate with the government.

What are you passionate about, that you are already working on or plan to do soon?

I am currently working on a few crypto projects I’ll share some publicly soon.

About the author

Ada Ada

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