As Africans are going through the anticipation phase for what the blockchain projects are going to do to improve the lives of most people, some Crypto Scams have already emerged to exploit the ignorance of most uninformed africans in the name of making them rich through Crypto pryamid schemes. Here in my country it is becoming worse, because most people don't understand what cryptocurrency is, pyramid schemes are twisted to sound like blockchain projects to get people's money.
About 10 billion Uganda Shillings has been collected from people by the Scammers. The scammers disappear leaving stolen ugandans poor and confused.
Over 5000 victims have petitioned the Uganda Parliament to get their money back, that's how serious this issue has become.
Sensitization has helped a few Ugandans and a very small percentage understands what blockchain is. These are the only few people that can spot a Crypto Scam. Some government
officials are trying to tell the public to do away with Cryptocurrencies altogether.
I guess sensitization is all we need, this is an inevitable change that we can't just ignore. Good enough some universities have decided to include blockchain courses. So the future the still bright. I encourage everyone to do enough research on any Crypto project that they want to invest in. There is enough information on the internet, you can easily search and find out about the legitimacy of any Crypto project. It takes some time but it is better than losing money and wasting time.
Posted via neoxian.city | The City of Neoxian