The Economic Community of West African States, ECOWAS Parliament will hold its delocalized meeting under the theme: “Cryptocurrency as a facilitator of Community trade in West Africa,” from July 6 to 10, 2021 in Ouagadougou, Burkina Faso.
Members of parliament of the joint committee on Administration, Finance and Budget; Macroeconomic Policy and Economic research; Public Accounts; Trade, Customs and Free Movement will lead participation at the delocalized meeting.
In a statement by the community Parliament, the main objective of the meeting in Ouagadougou, is to provide the ECOWAS Members of Parliament with an understanding of cryptocurrency and its use in the process of facilitating regional integration.
The meeting will also provide an opportunity for the regional parliamentarians to determine the need and nature of regulation to guard against the misuse of cryptocurrency in the region.
A cryptocurrency is a decentralized digital currency that uses cryptographic algorithms and a protocol called “blockchain” to ensure the reliability and traceability of transactions. The adoption of cryptocurrency is affecting the whole world and is finding more and more users in developing countries and regions.
According to the statement: “States are only just beginning to realize the need to protect citizens against misuse and to regulate its use.
“ECOWAS Parliament, aware of the need to educate citizens on the implications of cryptocurrency, decided to organize this meeting.”
During the discussions, high-level experts will expand issues around this virtual currency and provide participants with the knowledge necessary to better understand its use.
Suzan O
