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Cyber Security and Privacy on the Blockchain
Recorded: May 26, 2023 Duration: 1:28:39Space Recording
Full Transcription
so sorry for the disconnection that was some technical issue from twitter
but we are back now please let's keep on the twitching so others can join us
cool okay okay we are having more people
please yeah sir i can hear you now sorry about
fantastic okay
so can we wait a bit before i continue so that
one or two of you can join us yes yeah sure
i just wait for two minutes three minutes okay
okay cool
okay i think uh we can continue others will join us uh or they get the replay
afterwards yep awesome yes all right so okay go ahead go ahead please
no i said let's go let's let's move on sir okay great so like i was saying you can apply
internet security i don't know what you heard last but that's where i think i was that was
my train of thought so you can apply internet security on your personal device some vpns also
come with internet security so what that does is it will notify you if perhaps there's a bug
on an app that you are using and you don't know what to do with it so you can apply internet security
on an app that you are using well this is common with android apps because it's not that common
with ios apps apple has gone a great deal to ensure before an app goes to their app store
it goes through lots of scrutiny but we see this on android and lots of android apps are rogue apps
rogue apps are apps that have faulty contracts and embedded software that are fisher
you download an app and within the app they are stealing information from your device
so you cannot tell from the surface if an application is a rogue app so what you can do
is to now install on your device uh app protecting software there are a lot of them
you can also go ahead to prevent apps from installing software on your phone
android device has that so you you disable the permission so it cannot install third-party apps
there's another practice that is good to ensure that you are safe when you are online
which is uh apart from not allowing third-party apps which is a practice of not downloading some
sort of free apps that are not available on the ios or on the play store
these most of them are called apks so sometimes you see one kind of amazing app that is not
available on the store and it tells you that you have to get it through an apk right so an apk is
is an android package it's called android package i think that's the short definition that's the
full definition of an apk
so it's an android package you know or android package kits
so it might tell you to go to one particular website to download that software
because it's not available on the play store you know and you go there because it's a free
software that you want to use to do whatever then you go to the play store to download it
you install it on your device you don't know the source it has not been verified by android that's
That's one of the easiest ways to have your devices breached.
Now, because we have moved from Web 2 to Web 3, it means your wallet, your Web 3 wallet, whether it is Trust Wallet or Wallet Connect or Metamask or anything, it is sitting on your device as a hot wallet.
It's not a cold storage.
It's a hot storage.
Because it's sitting on your device.
This brings us to wallet security.
There are different types of wallets.
So there's a cold wallet.
There's a hot wallet.
Now, a cold wallet is an offline wallet.
It can be on your desktop that's not connected to the Internet.
It can be in a flash drive like Ledger Nano.
Recently, Ledger Nano is even beginning to have issues.
It can even be a paper wallet that you print.
You write your seed phrase on it.
And you keep it completely offline.
But the Web 3 wallets we have these days are all hot wallets because they are sitting on our devices.
So imagine a situation where you download an app from an unknown source.
Now, that app is sitting inside your device.
The same location where your Web 3 wallet is sitting.
And you are the one that allowed this rogue app into your device.
Just imagine a scenario.
You are on the road.
You are in an Uber that you hired yourself or a boat, a cab.
Let me not even, because there are lots of cab services now.
So let me just say a cab or a taxi.
So you are in a taxi that you hired by yourself.
You now see somebody on the road.
You don't know where that person is coming from.
You don't know where that person is going.
But the person waves at you.
And you tell your driver, the driver of the taxi, to stop and carry this stranger.
Without knowing anything about that stranger.
That's a rogue app.
Now you are driving home and the stranger tells you his battery has run out.
He doesn't even, he cannot contact the person where he is going.
Please, can he spend the night at your house?
Then the next day he will continue to where he is going.
And you just say yes.
Who does that?
You allow a stranger into your house.
But inside your house is where you keep your money.
Inside your house is where your life is because you are sleeping there.
In the middle of the night.
When?
When you are fast asleep.
Just imagine that stranger wakes up and robs you of everything you have.
Opens the door and disappears before you wake up.
If you go to the police station to report.
And you tell the police station this scenario.
That you picked a stranger into your house.
And the person robbed you.
And left.
Wouldn't the police call you, call that person.
Because I mean, it can't happen to you because you are smarter than that.
Wouldn't the police.
Call that person.
I mean, a dumb head.
But that's exactly what we are doing the web three space.
You download apps from unknown sources because you hear the app is free.
You now even hear that some projects are doing.
Head drops or whatever.
And you, you just take your web three wallet addresses and you just spread them everywhere.
Not knowing that your wallet is sitting in your phone and the app or whatever.
You are downloading is also sitting in your phone.
Your phone is your abode is your natural habitat because we are all online now.
So you must ensure that you take security very, very seriously.
It's not enough to just make money in the device space.
You must secure your life because it's even better.
You didn't make money.
That for you to make money and lose it.
So it brings us to, of course, since we're talking about web three.
Cybersecurity web three space.
We now have to look at general blockchain security.
But when we are looking at blockchain security, it has to do with the platform providers, not the users.
So that's why you saw that most of the most of the protocols migrated from proof of work to proof of stake.
Because the consensus mechanism of proof of work showed that it had some few errors.
Only.
Limitations as it were.
So lots of platform providers, many blockchains, if not all have now migrated to the proof of stake mechanism.
You know, the essence of that is to prevent what we call 51% attack.
So what's, what's a 51% attack.
It is something that has to do with having more people on the network with a malicious intent.
Let's use our voting system for instance.
So we are voting to bring in someone into government into power.
And 51% of those people have a malicious intention to ensure that they are all candidates.
When, since they are more in number, they'll be able to steal the ballot box and nobody will be able to challenge them.
But if you imagine a scenario where the people that have the right intent to put in the right person in government have 51% control.
They are more than the good people are more than the bad people.
In other words, if a few people come and they want to snatch the ballot box and the people that have good intention are more in number.
The people that have good intention will be able to overcome those that have bad intention.
That's how it operates in blockchain security.
Although this is now done by computer operations.
So the more good news you have.
They will be able to overcome the bad news.
So this is for platform providers.
Anyways, I mean, a user's business is not going to build protection against the network.
He's just going to consume what has been built.
So if you are here and you are a dev or you are a startup founder and you are working on a particular project, then you have to start thinking about the security of that blockchain because the security of the blockchain is even more important.
The products that you are putting out there and also the smart contract.
So if your project has to do with code execution, then you have to think about the security of the smart contract.
I don't know how many of us here read about an old story that showed up again.
So because it's in the public space, we can mention it somewhere in Otter Covenant University.
There was a story about.
one uh is your lower something or lower so i think that's the surname of the guy or lower
i can't really recall the surname you know daniel something i think that he was the head of it in
the university and he designed the payment gateway that the school was using to receive students
revenue and payments then he implanted a bug a rogue code that was sending money into another
account his personal account instead of the school accounts that's a web2 platform so imagine that in
a web3 environment where a dev now builds maybe a payment platform maybe for a wallet or an exchange
or an nft project
or a remittance you know project maybe let me not go and use some of this let me not mention
the name of any project at all so it doesn't look like we are condemning someone's project
but just imagine that scenario and this person is consistently stealing money in the case of
the covenant university stuff i think we had it was up to 180 million naira that's web2 if it's
web3 you would have been hearing almost a billion naira because the monies that are
flowed in the web 3 space is much so if you are working on a web3 project as a founder
or a co-founder or at whatever level and you are getting a dev most of the time people outsource
their technical parts to maybe an outside cto so if you are doing that who is checking
your smart contract for bugs who is verifying your smart
contract if it's a rule if there's a rule if the person developing it has developed a rogue contract
you know who is ensuring your smart contract security now there are companies i mean we are
glad that there are companies in nigeria now that provide audits smart contract audit also
a cyber chain we also help to consult and advise on things like this so it's not enough to just
build and put it out there you must also audit your smart contract because you are now in the
web3 space then of course another thing is decentralization so decentralization now helps
you to ensure that one person is not fully involved in the development of your project
you have to intelligently segment it so even if you may have one dev you may also have different
hierarchy or policy levels to ensure that as your dev is working there are other levels of checks
you know on your project now this may not really be easy for a small project but for a large
project for a large exchange you don't rely on one dev yes they may have one cto but they have
several devs working on several projects so in your development it also has to be decentralized
and there must be multiple
levels of approvals so that someone does not build and plant a rogue code into your project
and after years of labor someone just strips you off and because you are the founder because you
are the ceo because you are the image maker your name is what people know if the project collapses
due to a rogue contract you are the one that will come to right then also in in web3 cyber
security
you have to look at the ability for your project to interoperate with others and that's where that's
the beauty of the ethereum protocol so with ethereum now with the various ethereum protocols
and standards if you build one project as long as you're building it on a forked ethereum protocol
it should be able to speak with other projects so yes you build your project on on solana for instance
or you build it on the binance smart chain
you should be able to talk with a cardano project you should be able to talk with
any other one because either you are using solidity to build it or you are using any
other language to build it so you must ensure interoperability because sometimes the reason
why some projects fail it's not because those projects were not secure it's because those
projects were built on standard that were not interoperable so people find it difficult to
to connect. That's why you see that in recent times from last year or two years
ago, blockchain bridges started becoming
popular. And the recent hack we've started seeing is not on the
blockchains, it's on the bridges. Because the bad
actors now know that if they can go and stay on the bridge, if they
are not able to hack a blockchain, if they go and stay on the bridge
while transaction is moving from one blockchain to the
other, they can intercept it on a bridge
and carry out the nefarious act there. So
I think I will stop here
so that we can just follow the train of thought and continue.
Wow, that's really awesome. To be honest, I've learned a lot from what you've said so far.
And this piece has been really educational.
Well, guys, if you don't mind, let's take a quick
break for the next two minutes, then we'll dive back into this piece.
What we'll discuss on Wednesday, we said we don't need
nefarious on the blockchain, and we'll explain some of the differences between
blockchain and some other interesting
questions as well. So stay tuned. In the next two minutes, we'll be back
into this piece. Thank you.
Enjoying the space and do make sure if you have any questions,
do make sure you have those questions on. At the end of this
space, you'll be able to ask any question regarding cybersecurity and privacy on the
blockchain. Our speaker is ready to answer your questions. And the space
has been really, has been really educational and I love it so much.
60 seconds. Yep.
So, guys,
welcome back to tonight's educational series. So, tonight, this is for
cybersecurity.
We are in the blockchain.
Jude has explained what cybersecurity or privacy means in Web 2 and also in Web 3.
So now we'll be going to other questions now.
So now there have been a lot of saying, I've interacted with some of the influencers on the blockchain
and some of the key opinion leaders we respect a lot.
Some of them have said we don't need privacy on the blockchain, that there is no need.
So now I'm going to ask Jude this question.
So some say we don't need privacy on the blockchain.
What do you have to say about that?
All right. Thank you for that question.
Whenever I hear that we don't need privacy on the blockchain, because, yes, there's a school of thought.
Some people always say that blockchain provides privacy and no government control and all of that.
That's one school of thought.
But there's something else you need to understand, that whenever we are dealing with financial transactions,
as much as you need privacy, you also need accountability, right?
So while one school of thought is clamoring for privacy, that we need privacy,
some other school of thought is saying we don't need privacy.
There must be a middle ground.
There must be accountability.
If you say we don't need privacy, it means everything will be out there in the open and there will be anarchy.
Anarchy.
Anarchy is a state of confusion.
Because we live in a dynamic world where we have the good, the bad, and the ugly,
there must be some form of privacy.
Privacy is important.
But there must also be accountability.
So whilst there must be privacy, it protects.
One of the things, privacy protects the identity and the involvement of individuals and organizations at various levels.
If we don't need privacy, it means everything the security agencies are doing will be out there in the public.
It means if EFCC wants to get one sophisticated analytical tool, they have to tell everybody where they are buying it from.
They have to tell everybody the name of the company that is manufacturing it for them.
It means the bad guys can't even be ahead of them.
If we say we don't need privacy,
we don't need privacy.
And we have med techs and health techs.
That means if someone goes to the hospital and the person is ill,
everything that has to do with that patient's health records have to be made public.
So imagine a scenario where the health record of your fiancé is made public.
So every single thing about her life is there in the open.
She will face...
Lots of bullying at her place of work.
So some things have to be private because it's not just about financial transactions now.
Imagine a couple expecting children after waiting for five to ten years and they don't have children.
Then all of a sudden the woman takes in.
Everybody wants to know whether it's a boy or a girl.
And maybe the guy's family is apprehensive.
They are expecting a boy.
They are expecting a boy.
But because there's no privacy,
there's no privacy in health records on Web 3.
She goes to the hospital,
she runs a test and it shows that she's expecting two girls.
And immediately that transaction is in the open and then everybody can go see it.
Before she gets home,
she's already getting phone calls.
Oh, after keeping our son for over ten years,
you still want to give him two girls.
How did they find out?
The transaction is already on the blockchain and everybody can see it because we clamored for...
Pure transparency, we say we don't want privacy, so not just money, but also look at it from a financial standpoint.
A young start-up receives funding and they don't want to disclose how much they raise in their proceed or their series A.
They just want to go and do their development, go and focus on their growth and expansion.
But because we have seen that, we don't want to give them money.
Because we have said we don't want privacy, everything should be put in open.
Then the VC that just funded them is compelled to go and say,
okay, we give them $1 million.
Meanwhile, this start-up, these young guys,
they are coming from a very, very, very humble background.
And they have lots of cousins, they have uncles and aunts
that are expecting them to bring money and share.
Because we're in Africa, we see these things every day.
So this young start-up now face a new challenge.
Everybody is calling them out on Twitter.
Guy, come and do give away now.
You just got $1 million.
Hello?
If they do give away with the money they just received as precede or series A,
if they do give away with all that money, because people here, they just received $1 million,
how are they going to grow the start-up?
And this money was now made public.
Everybody even saw how the money came.
Because we say we don't want privacy.
Yes, there should be accountability.
But we also need some form of privacy.
So there should be transparency.
There should be accountability.
There should be pseudonymity.
So sometimes you want to put out a product there,
maybe just to test the environment,
and you don't want your name to be there.
You can bring out the product in a pseudonym.
That's why till tomorrow, nobody knows who Satoshi Nakamoto is.
He protected his identity, or she protected her identity,
or they protected their identity.
Because till tomorrow, we don't know if Satoshi Nakamoto is a man, a woman, a robot,
or a group of people.
So they showed us with that that privacy is needed.
Imagine a scenario where everybody knows who Satoshi Nakamoto is.
And Satoshi Nakamoto decides,
Satoshi Nakamoto decides to come to Nigeria and just visit.
Niger Data Boys, or BH Boys, Boko Haram, or some other people, or Arcada,
or anybody can decide to kidnap him or her, or kidnap them,
and request for 100 BTC.
So you see that in some scenarios, privacy is important.
Then, of course, the reason why we need privacy to some level
is also to protect data.
Nigeria is planning on going for censors.
The data that Nigeria will develop from the censors they are going to coordinate
is supposed to be a confidential document to the federal government.
Right?
There are some documents that you see written on the file, confidential.
There are some people that have been arrested in the country for some crimes.
They won't publish it.
There are some high-level security intel that the Nigerian Army has,
that the Nigerian Air Force, the Nigerian Navy have.
They cannot publish it.
Data integrity, data protection is very important.
So imagine if you are called to be the dev to build a Web3 project for Nigerian Army
or the Army of any country.
You must sign a non-disclosure agreement.
You must sign a non-disclosure agreement.
You must sign a non-disclosure agreement to protect the data of that organization.
Even a normal Web3 organization.
So you build a project for a fintech or a bank.
The data of that Web3 bank or that health tech, a Web3 health tech,
you must protect it.
You have to sign a non-disclosure agreement.
In other words, you cannot disclose private data to the public
because if you do that, what you've done is you've made a non-disclosure agreement.
You've made a non-disclosure agreement.
You've made a non-disclosure agreement.
You've made it very easy for competitors to steal information of the other company
and crush them.
Why do you think that nobody knows what they mix in Coca-Cola?
Many other brands have tried to do something similar to Coca-Cola,
but they don't have the exact mixture.
And all over the world where Coca-Cola is manufactured,
they say they just send them concentrates.
They still don't tell them what they mix.
They still don't tell them what they mix.
They still don't tell them what they mix inside.
That is data privacy because the moment everybody knows your secret,
then you cannot be the leader of the market anymore.
So in the Web3 space, privacy is very important.
There are things that should be made public, which we call general knowledge,
but there are also things that should be kept private
to protect the data integrity of organizations.
Of course, regulation and compliance coming,
so you can make some things publicly known
under regulation and compliance clause.
In other words, a startup can say,
okay, we raised X amount of money
if the Security and Exchange Commission want to know.
A startup can also say we have 10,000 subscribers,
but we have 1,000 active users.
So there's a difference between your registered subscribers
and your active users.
Daily active users.
Some of those information can be made public,
but the core data that keep your organization running
should be kept private, right?
So I think that's just the beat on that.
While some people say we don't need privacy on the blockchain,
it's important for us to know that there has to be
some form of data protection.
There has to be some form of regulatory compliance.
If not, we will now start having issues with AML,
where you see anti-money laundering issues,
where funds can be brought to your own platform,
funds that we're getting from kidnapping,
from adoption, from drugs, from terrorism, right,
can be brought to your platform.
So you need to put all of that into consideration
to keep yourself safe and also exonerate yourself,
sir, from problems in the future.
I'm done speaking.
I hope that helped.
Yeah, thanks so much, sir.
And I love the fact that you touched both outside aspects,
financial aspects, organizational aspects,
and personal aspects as well, which is really amazing.
I'm glad, you know, you see the need for privacy
on the blockchain, because this is a very important factor.
Like, there's a saying that there should be a bridge
between transparency and privacy.
And this bridge, it means you should have a choice
to make things public and what should be private.
And of course, it should be customizing,
whereby when you need to comply with government regulation
or probably with any agency, you can still comply
with other stuff, making this customizable,
which is very important.
And I believe most people usually don't think
they need privacy on the blockchain
because of misconception.
They think privacy is for the bad actors.
They think only those who do fraudulent activities
or who have some, you know, bad things they are doing
have need privacy on the blockchain.
But it's not so.
It's just that they don't really know the utility
or probably the bigger picture of how privacy plays a role
on the blockchain, which leads me to my next question.
Now, how does the blockchain utilize the,
how does the blockchain utilize cybersecurity and privacy?
How do they utilize, how do they put it into use?
I know you've given some examples already,
but you know, there's some people here
that will still want to know more.
You know, and I love the way you use analogies.
So if you could please use analogies to explain
how cybersecurity and privacy works on the blockchain.
So people could understand very much better.
Okay, so on the blockchain,
I will look at cybersecurity.
On the blockchain,
cybersecurity has to do with cryptography, right?
Cryptography is a way of concealing communication
or transmitted data on a network.
So for example, if you are sending, for instance, an email,
what you are sending is a text.
But when it's going across the cyberspace,
that text is converted into a digital format
in ones and zeros and zeros.
So it has been encoded, right?
So there's on one end, on your device end,
there's an encoder.
There's an encoder that converts your plain text,
your English language to machine language.
So that's what transverses on the digital space,
across digital space.
When the other device receives it,
the other device has to decode it.
So there's a decoder.
So each device have both an encoder to send
and a decoder to receive.
So it encrypts and decrypts.
And using encoder and decoder,
I think maybe that's the simplest way I can explain it,
but there's an encryptor and a decryptor.
So when you are sending it, it will encrypt it,
it will change it from plain English to machine language.
When the other device receives it,
it converts it from machine language to plain English.
On the blockchain, that is how it works.
So your public key is what can be seen,
but there is a private key that is like gibberish.
And the private key, you should keep it private to you.
While you are sending transactions now,
the public key, you can put it there for people to see,
but your private key is what grants you access
into that blockchain, you keep it safe.
Whilst you are making this transaction,
the devices are comparing public keys
and the blockchain is comparing private keys.
If you put a wrong private key into a particular blockchain,
that blockchain does not recognize that private key,
so it will not grant you access.
So that is how blockchains provides
a form of cybersecurity.
So that if somebody else puts your name
or your email and provides a different type of private key,
because that private key is not unique to your account,
the blockchain will bounce that person out.
But if you make the mistake to expose your private key
somewhere and somebody gains access to your private key,
that means that person is able to steal your identity,
that person is able to gain access to your blockchain,
and that person can wipe off your account while you are sleeping.
So blockchain security is different from blockchain privacy.
It is a wide topic that if we were to teach this,
I would have preferred to use physical kind of graphs,
and I'm a practical person,
so I can show you in practical terms
how some of these transactions are done,
but let's leave it since our call is an audio call, right?
So you do a combination,
a combination of your public and private key
to gain access into your account.
Of course, a private key in some instances
can also be your 12 or 16 word mnemonic passphrase.
I see some passphrases are even up to 24 words, you know?
Some platforms call it mnemonic passphrase,
some others call it seed phrase, right?
So it depends.
I mean, a combination of various words that can become,
I mean, a combination of various words that can become,
you know, your private key,
but some can just be combination of letters and numbers,
you know, which look like gibberish,
but you must ensure you enter it in the sequence
that was given to you at the point
where you were creating the account.
That ensures the protection and the security
of your account on that blockchain.
Now, looking at the cybersecurity,
Now, looking at the cybersecurity,
of your account, we're not looking at privacy now,
the cybersecurity itself of your account,
you have to be careful if you are opening an account
on a particular network, whether it's a wallet or an exchange,
and they are the ones that generated,
in fact, they didn't give you any key.
There are some wallets like that,
there are some exchanges like that,
they didn't give you any key.
They didn't give you a password.
You just put an email and they send a code to you,
maybe to your email, and you put that code
and you gain access to the account.
That means they are the ones in charge of your key.
And you hear people say all the time,
not your keys, not your wallet.
Any account you have today, this is the action step,
because whenever I speak, whatever I do,
I always try to leave people with an action step.
As a matter of fact, after this explanation,
if we end this space now, I will be satisfied
knowing that somebody has taken something home.
Whatever account you have, after this explanation,
go check all your accounts.
If you have any accounts that you do not have a password,
it's only email or only phone number you used to log in,
and the platform usually sends you a code.
So, please, go there right now.
See how you can transfer any asset you have
out of that place and shut it down.
I don't care how popular they are.
I don't care how beautiful the UI UX is.
I don't want to know whether they have support or not.
Shut it down, because if you don't have access to your keys,
that means you can wake up tomorrow
and that platform will shut down,
and you'll not have access to your wallet.
You'll not have access to your digital assets.
Remember this, not your keys, not your wallet.
Not your keys, not your wallet.
So take that.
So if you're applying cybersecurity,
apply this as one of your ways
to ensure that you keep your accounts safe.
If you don't have the keys, you don't have the wallet.
Another thing, if you are using authentication app,
for instance, Duo or LastPass or Google Authenticator
or Microsoft Authenticator
or whatever authenticator you are using,
ensure that you back up the seed phrase
that you used to create that authenticator,
because your phone might crash.
Your phone might get missing.
Your phone might get stolen.
God forbid, but these things can happen.
The screen of your phone may go bad.
And when you go check how much
to change the screen of your phone,
the cost of the screen, because most of the time these days,
the screen of your phone is embedded with the board,
the motherboard of your phone.
Some phones are like that.
My own device is like that.
You want to separate the screen, the motherboard goes with it.
So it's as good as buying a brand new phone.
So because the screen of your phone went bad,
you want to buy the phone and they tell you that it's actually,
you want to buy the screen, you want to replace the screen.
And they tell you it's actually better
to just buy a new phone.
So now you buy a new phone.
You download the app, you download the wallet
or the exchange, and you want to log in.
And they tell you, you need to put in your authenticator code
because yes, maybe you remembered your username or your email
and your password.
But you need the 2FA, the second factor authenticator.
Then you go install a new authentication app,
but you're unable to import your previous one.
What happens?
And you didn't back it up before.
So this has nothing to even do with privacy yet.
Now this is securing your digital assets.
So ensure you practice backups.
And your backups, some of us make this mistake.
Even myself talking to you sometimes out of,
OK, I'm going to do it later, you back up your digital assets
seat phrases and your backup phrases on the same device
is not a good practice.
So I've told myself, I cannot see something
and do something else.
So I started looking for how to back up my seat phrases offline.
And nobody on earth can ever.
Zero.
Nobody on Earth can do this.
Seriously.
can ever know where i'm keeping them if you like go to my village let all the village people gather
you won't be able to get my backup phrase so i keep them safe so those are little practices to
ensure the cyber security or digital security or online security of your digital assets before
you now start talking about privacy what should you put out in the public what shouldn't you put
out in the public you know before you start looking at the data integrity and encryption
of your assets most of the time i've said it before encryption is a job function of the
platform provider so except you're a platform provider you may not necessarily start breaking
your head about how to encrypt transactions on a particular platform those that are building it
put those ones in place and there are a plethora of companies that provide
blockchain security then for platform providers you also look into your smart contract security
you also have to look into your smart contract audits to ensure that there's no rogue contract
to ensure that the dev that built it most especially if you are using a third party
for your tech development if you're outsourcing your technology or you're using cloud services
ensure that you have
a smart contract auditor or a software security auditor to check and make sure that nobody's
exploiting your platform nobody's exploiting your services no bug has been planted there's a scenario
that came to us where someone used a third party to create a token and whilst sales were going on
for every transaction that was going on the developer was getting about 20 percent
and they didn't know it took something to happen that they now started checking and discovered it
that there was a an address a contract address that was planted into the project and whenever
a transaction was going on the developer was getting up to 20 percent so that's a bug
that's a rogue contract you know so if you are if you are the one that is concerned with building
projects you look into all of that you know then if you're a user or if you're a developer you're
you are not the only one out here just let me repeat that first let me remind you this month
speak you of a problem not the only one you know just let me remind you of a problem
no Col Mu lamp is closed but if you heard these things from today
so if your policy is to use Maidan in the future when you're saving your connection
whereas if you use economically exposed data esponse then a bitcoin chanting certificate
of course you now start looking at your own self protection looking at your own self privacy approach to ensuring that you are safe on the Beater space don't see don't save your passwords in an email people do it what's in a text message most of what II would save it on whatsapp
Closing Settings
what's in our e-mail
air Mu lamp
Read Faulose
you're backing up your WhatsApp
either on iOS Cloud or Google Drive.
All it takes for someone to know your username and password,
and once they go to your cloud account,
your iCloud, or they go to your Google Drive,
they've gotten it, and that's it.
So people will save their MetaMask login details
as an email.
I mean, things that, when I hear them,
it's difficult for me to process them, you know?
And people can just easily hack their accounts.
And those emails, okay, so let me even talk about emails.
Those emails that you use for your digital accounts,
don't use those emails for some flimsy platforms.
Don't use those emails for some apps that don't make sense.
You are in the tech space.
Please be serious with what you're doing.
So I can say this.
I have over 20 email addresses, over 20,
because I test apps every day.
So there are emails I have just for testing apps.
There are emails I have for airdrops.
There are emails I have for academies.
There are emails I have for some other Web2 stuff.
There are emails I have for games.
And I write them down, and I classify them.
So after playing some games, I don't want any disturbance.
So those emails, if you are sending any updates,
it's those emails that are receiving all the junks.
The email that I use for my financial transactions,
I don't use them for any other thing.
It starts from there.
So you have to learn to protect yourself
because you are now the custodian of your digital assets.
Everybody wants Web3.
Web3 is the internet of ownership.
So you are now the owner of your bank
because the web is your bank.
The bank is sitting on your phone.
Metamask is a bank.
Trust Wallet is a bank.
Don't look at them as apps.
They are banks.
So if you are holding a bank in your hand
and the key of the bank is also in your hand,
and the money, your money is in that bank,
where are you going to drop the key?
Will you just go to a restaurant and eat
and you are dropping the key of your bank?
Imagine that you are the owner of a bank
and you have millions in that bank.
Are you going to drop the key?
You go to a restaurant.
You go and buy pizza.
You just drop the key.
And everybody knows that this is the key of your bank.
Will you just drop it on the table anyhow?
Won't you keep it securely somewhere?
Or you want to go clubbing?
Or even if you say you are going to a church or mosque to pray,
will you just carry the key of your bank
and drop on a pew or a chair anyhow?
Won't you keep it safe?
So you need to start taking your digital accounts
very seriously.
You need to start looking at your Web3 wallets
with a different sense of understanding
that these are digital banks.
You need to start looking at the exchanges
you sign into as digital banks.
You need to start knowing that you are responsible
because Web3 is the web,
is the internet of responsibility.
So you need to be very serious
with what you are doing.
You are not joking.
Web3 is not...
Web3 is not for jokers.
Web3 is not for unserious people.
You are not dancing.
You are not dancing on TikTok here.
This is a digital bank.
This is your life.
People have lost money in the Web3 space.
A million dollars, two million dollars.
People have committed suicide.
So don't joke
because you are looking at your wallet today
and you are not seeing money in it.
That's why you are playing with it.
What if tomorrow
you buy a token
or a coin
a mint token
or a particular coin
maybe an AI coin
and that coin now does 1000x overnight.
Meanwhile,
your login details,
your passphrases,
you kept them
carelessly somewhere.
And maybe it's even one of your friends
that knows
that they can get
access to your account
from wherever you kept it.
And you are sleeping
when the token did 100x
or 1000x.
Before morning,
somebody gains access to your account
and wipes up everything.
It would have been better
you didn't even make any money at all
that you now made money and lose it.
So take security very important.
Before you start making money,
ensure everything about your digital presence is safe.
Don't tweet things anyhow.
Don't fill in your
your metal mask
or your trust wallet password
or your login details,
your seed phrases.
Don't just put them anywhere.
You see a drop here.
Don't just fill every form
and put your addresses,
the wallet addresses.
Ensure you take out two minutes.
Go and check that project.
Who are the people behind the project?
Have they done any rock pool somewhere before?
Have they done any exit scams somewhere before?
Take two, three minutes.
That's why it's also important
to join communities.
Because if you join a community,
if you're a member of a community,
you can quickly ask a question.
Please, who knows about this project?
How authentic are they?
What's the security about the project
and the people behind it?
One or two people may be able to just chip in something
and that can save you
and save your life
for the future.
I hope that helps.
Let me just take a break here.
I'm done speaking.
Can you hear me?
Yeah, yeah.
This is so, so interesting.
And to be honest, I've learned a lot.
And to be honest, when I first joined this space,
I didn't join this space
for the educational purpose.
I only joined this space based on the
I actually had about making money.
And when it comes to security check and, you know,
taking the right step,
I never knew any of those stuff.
So I usually use my personal email
for everything I do.
I expose my details, information to the public.
And my wallet address,
I sent it to any airdrop group
just to receive airdrop.
You know, because there was no proper knowledge.
And my safe space,
I never even kept it safely.
And the funnest part is that I used my Gmail account
to sign up for most of the digital accounts
for wallet and everything.
Because there was no proper indication for me
before I jumped into this space.
I just jumped in, face down the aisle.
And I'm super glad we're having this kind of space
to help people get into this space properly.
And for those who have probably taken the wrong step,
I believe this will help you
to take the right step and, you know,
prepare ahead and be much more careful
with whatever it is you do in this space.
And to be honest, I love this space
and it has really been interesting and educational.
So let's talk about some of, you know,
emerging technology
and technicals.
Can you say emerging technology?
What are some of the emerging technologies
or technicals being explored by the blockchain
since they used to enhance the blockchain privacy
and security beyond the traditional encryption method?
So what are these?
You know, you made mission photography.
So what other, you know,
technicals or technologies are they exploring
to enhance the privacy and security?
And also, what are the challenges being faced by,
you know, cybersecurity
and also privacy on the blockchain
and the public blockchain as well?
Okay.
So some form of,
I'll call them vulnerabilities
or security risk, right,
that I imagine
in the Web3 space
or blockchain space.
I've talked about a few before.
Smart contract bugs.
Rogue contracts.
Okay.
one thing we should know is
some smart contracts are susceptible
to coding errors.
Some may be errors,
because your smart contract
or your contract,
first of all, before you say smart,
your contract is as smart
as the person developing it.
Right?
So, Ethereum 1.0 came.
After a while, they saw that
it has some vulnerabilities
and Ethereum 2.0 came.
You know?
And when they saw that
Ethereum 1.0 could not really deliver,
they worked on Ethereum 2.0.
So that may not be
a bug,
but that may have been
some lack of
strength.
Some vulnerabilities.
Inability of it
to become scalable.
So scalability issues
are some of the things that we see.
You know?
The network is slow
when lots of transactions are there.
So we saw the Ethereum merge.
That's one of the things.
So when you are building a
platform or a protocol,
you have to take all this into
cognizance. However,
nothing
is cast on
concrete. So when you build
and you see that there are some flaws
or some vulnerability,
there's always room for improvement.
That's why you see that
there's always improvement.
A blockchain is built
and the blockchain has some
flaws or some vulnerabilities,
you can fork the blockchain.
And get something better
out of it. So
you have Bitcoin, but you also have Bitcoin Cash
and you have other forms of Bitcoin.
What are these forks of Bitcoin
telling people?
They are promising better services.
They are promising scalability.
They are promising faster transactions.
They are promising privacy and protection.
That's also what we saw
in the Ethereum space.
And the Ethereum is a blockchain
of blockchains.
Because when Ethereum came, it now
gave ability
for other developers to
produce more blockchain products.
Binance Smart Chain,
Binance itself is a fork of Ethereum.
Polygon and many other
of them. All these are Ethereum
forks. Trust Wallet
and the rest of them were built based
on the Ethereum standard.
So the USDT everyone is talking
about, which is the TRC20 standard,
the TRC721 standard,
all of them are forks of Ethereum.
Why did all this come?
They saw that there were some flaws
and some vulnerabilities
and they decided to build
and improve on them.
The consensus
mechanism of the blockchain
is another vulnerability that we
saw in the space.
So we saw that the consensus
mechanism of proof of work
power hungry. When I say power hungry
now, it was consuming
too much of electricity.
Right? We also saw that
people were not getting, miners were not
getting the proper compensation
that was due them.
We also saw that some markets
were taking a larger share because
they had higher computational power
for proof of work.
So the more computers they had,
the more machines, the more mining nodes
they had, the more
compensations they were getting.
You know, and they were not really doing
anything, just that they provided more
machines. So proof
of stake had to come. You know,
so those are
improvements. Of course,
proof of work was also a bit
susceptible to the 51%
attack that I made mention before.
You know, now proof of stake
came as a way to improve
on that.
Blockchain itself came to improve
the challenge of
double transaction, double spend.
You know,
so those are improvements
that we have seen in this space.
There's a whole lot of that
of course, data privacy
and all that. But there's something
we are seeing newly,
which is what we call
Oracle
manipulation.
So there's a
manipulation that can happen
off-chain, because you have
off-chain and on-chain transactions
which also we have seen to be
common with
DeFi protocols, where you have
three lending, okay?
So people can make
some Oracle manipulations.
These are very smart, high-level
manipulations that occur in the Web3
space. These are the emerging
challenges we are seeing now that
were not in existence
before. There's also
the denial of service.
Denial of service, most of the time
we are seeing, are
occurring in Web3 bridges.
So there are some companies that
what they provide
is not an exchange, but a
bridge between two exchanges.
Now,
the bad actors do not even
go to the blockchains now
to hack the exchanges.
What they are doing is to go and sit
on the bridges.
So while a transaction is going from a
Cardano blockchain to a Polygon blockchain
or a
Binance blockchain to
any of the other Ethereum blockchains,
they sit there, maybe a
Near Protocol, and
they manipulate
the transaction on the bridge.
They cause either a zero-day attack
or a denial
of service attack. These are emerging
challenges we are beginning to see.
But those are for the platform
providers. Some other emerging
challenges, which may not really be new,
but they are becoming more popular and they are coming
back again, are phishing attacks and
social engineering attacks.
So like what you said, someone
can create a rogue
airdrop
project.
Right? And that can be
a phishing attempt.
And they tell you, come fill this Google form
and put in your
your Web3
wallet address
to get an airdrop.
Or they make a tweet and they say,
OK, drop your wallet address. And you see people
dropping their wallet addresses on
Twitter,
on a tweet thread.
Then, later on,
they will lure you to their
platform and tell you to
connect your wallet.
Mind you, they've gotten the
wallet address.
You now go to their platform and
you are connecting your wallet.
While you are trying to connect your wallet,
the platform may have a phisher
or a keylogger.
A keylogger is even, well,
I think both of them are equally dangerous,
whether it's a phisher or a keylogger.
So, whilst you
are connecting your Web3 wallet
address on your platform, it's taking
record of your
password, the way you are typing it.
Now, they already
have your wallet that
you sent. You send them your wallet address
on a Google form or Twitter.
And these guys,
these guys are actually bad
actors, so they are saving everything.
So, while you are logging in,
their system is already
taking note of your keystroke
and is saving it.
Most of the time,
you may even get an airdrop.
Most of the time, you will get the airdrop.
But what you realize is
if those guys are rogues
or if their platforms
are manipulative
or malicious platforms,
most people have seen that maybe
two months or three months later,
the ETH
they have in their wallet
gets wiped away.
The BNB or whatever
USDTBP20 or TRON
they have in their wallet gets wiped
away. So, something
like this happened yesterday. Someone had about
USDT in their wallet and
filled for one project, whatever.
And overnight, everything
got wiped away and they just left
barely 20 USDT
for the person out of
2,780 USDT.
They just left 20 USDT for the person.
And they were
on our neck trying to resolve it.
I mean, it could have
been traced, but the resources
it takes to trace it
is a lot. And when
your digital assets are taken like that,
they get it into a blender.
So, there are platform providers
which also provide privacy
solutions that are
blenders or mixers.
Just as the name sounds,
when the digital assets
go into a blender or a
mixer, it can be
BTC. They will split
it into multiple satoshis
and use some to buy
USDT, use some to buy
ETH, use some to buy BNB,
use some to buy AVE,
use some to buy just any
token.
Use some to buy PEPPER
or whatever.
So, they mix it to multiple
other tokens that
it will take a forensic analyst
two years.
Oh, you say, okay, you can trace it with a
Markov tree. Yes, you can
trace it with a Markov tree, but it will take
months for professional
forensic, crypto
forensic experts to
be able to trace
it and get it out.
Because, yes, there's data footprint, you can
actually trace it, but it will take months
for them to trace it out. And
the cost of tracing it
may be up to $50,000.
And what you want to trace is
$2,760.
Can you pay $50,000?
It doesn't even make sense.
So, that's the reason why we tell people
you have to be very cautious
of what you do in the space.
Of course, social engineering,
it's part of what we are seeing
these days.
So, most times,
some guys will call themselves influencers
and they do give away.
Drop your wallet address and receive
10 ETH. Hello?
Is it 10 ETH?
They'll say 10 ETH USDT.
So, they're actually
giving you 10 USDT, not
10 ETH. Or
10 BNB,
10 BTC USDT.
Or 1 BTC USDT. They're not
giving you 1 BTC.
They're giving you 1 USDT.
Check it very well.
And you are giving them all your details.
Sometimes people put their names.
Hello, can you hear me?
Hello, can you hear me?
Can anyone hear me, please? Just give me a thumbs up.
It's like I got cut off.
Yes, I can hear you, sir. I can hear you.
Okay, fantastic.
I think we are having some network
lag, but it's fine.
social engineering attacks
happen now in the Web3 space.
There are lots of dApps that
trick users to revealing their private
keys or providing sensitive
information. And this
can lead to unauthorized access
to your wallet or
theft of your digital
assets. So, you have to be careful
of some so-called
influencers or some
fraudulent websites.
There are lots of shadow websites
now or shadow platforms.
You will think that's the original platform.
Sometimes they
come as flash tokens.
They will tell you they are doing a giveaway
and you go there to put in your details.
If you try to log
into a platform
and you are very sure of your username
and password, you are very sure
and you try to put it
and you are unable to log in,
don't try it immediately
again.
Go check your email.
Ensure that you have secured your email.
Check to see that you have
enabled on that platform.
Also check very well,
especially if you were sent a mail
telling you to update
your details and asking you to click
a link on that email
when you know you are not the one that generated
Do not click that link. If you were
wake up in the morning and you see a particular
email from a popular exchange
telling you to update your account
and there is a link on that email,
do not click on the link.
Go and check the sender's address
first. Most of the time
you will see
there is a wrong
or a malicious sender address
that is being sent to you.
I mean, if you see
jude.com
and jude.com is where
you have been carrying out your transactions,
then all of a sudden
you now get a mail from
jude.com.net
jude.com.net is different from
jude.com or
jude-com.promo
jude-com.promo
is not
where you have been carrying out your transaction.
The parent domain must be
jude.com
If it is jude.com
slash promo, that means the parent
domain is still jude.com
but there is a promo they are doing.
So you need to
be conversant with
digital representations.
Attend spaces
like these that have to deal with
security so that you can
be informed of
how to stay safe online.
I think I will stop
here so that we don't have
information overload so that
we can also go and practice one or two
things from what we shared this evening.
Thank you very much.
Don't speak it.
Mr. Jude, I must say you are really
a professional in your field and
to be honest, the way you explain all these things
are very, very detailed and I believe
even as a beginner in this space
they could easily understand what we've seen so far.
I would love to have you in our
space. I love this place.
Talking about maintaining the balance
between cybersecurity
and privacy on the blockchain, we've
seen some dApps on the blockchain.
These dApps
they've ensured they're going to
save our data and make sure that our contracts
are good enough and
sustainable for a very long time.
And also about something missing, which is
the privacy. How do you think they can
strike a balance between ensuring cybersecurity
and privacy on the blockchain for dApps
and also for new dApps that are coming up
and for those who are already on the blockchain
and they have millions of users?
Alright, thank you.
So for
dApps
or dApps as you call them
to achieve a balance,
ensure that whatever you're developing
you apply
secure practices.
I mean, we have guys doing
fantastic work in the space
from real estate to
health tech,
to agro tech, to
educational tech, to
registration tech, and
so many. Ensure the first
thing you do is apply
security processes
and policies
which is a general
secure development practice.
Ensure
you apply
penetration testing.
So penetration testing will help
you to discover if
there are any vulnerabilities
on your dApps.
Ensure you go through smart
contract audits.
Talk to Cyberchain.
Talk to A&D Forensic.
Convexity is
a blockchain hub, but A&D Forensic
will help you out with
smart contract
audits.
Talk to Cyberchain.
Our team, our in-house
testing team, a beta testing team,
will help to test your app.
We'll let you
know, we'll give you a report after testing the
app. We've tested a few
apps for clients, which for
confidentiality
clause, we will not put
their name, we cannot put their name out
in the public, but we've helped a few
projects to test their app
in-house and give
a report from the user
interface to the registration
process to the
security request to AML,
CFT, KYC
and all of that.
So carry out all those
tests. Check out your
privacy, your design
of privacy. Check it.
Because if security is
too strong at the
face value of registration,
most users may back off.
So you can turn down
security requests at
the beginning of the sign-up process.
But once you've gotten
the user onboarded,
you scale them to level 2.
You scale them to level 3.
You scale them to level 4. Because
they're already inside your DAAP
and they're enjoying the
transactions they're carrying on.
They want to do more. They want to
verify
and get to the higher levels.
They also carry out education
and user awareness, like what
Secret Network is doing
today. So you carry out...
I mean, I'm talking about
DAAP's providers now,
or developers, right?
When you build your project,
put an explainer.
You can speak with Cyberchain.
We can help you develop an
explainer video. If we
see how the project is, we can
help you develop a simple explainer video
that tells how to
get onboarded, which is an
issue many devs
are not doing, many platform providers
are not doing. They have projects,
but they don't have explainers to
educate people on how to
get onboarded on that
platform. So when people go to their
platform, they find it as very difficult
and they just leave it.
If you're using third-party apps,
try to ensure
that those third-party
apps have also gone through your
audits, so that they
don't have the vulnerability
or the weakness. It's not coming from
an external app.
So if you are,
for instance, depending on
an external app for KYC,
like SubSum,
you know,
check to ensure. Use it
as an end user.
Interact with that app as an
end user to ensure that there are
no vulnerabilities there.
To ensure that someone does not take
a picture,
is still photograph
and place on webcam
or place on a selfie
and move the still picture
left and right. It now
authenticates that picture as a live
picture. Because most of the time
now, these
authentication apps for identity
management are trying to check
for liveliness. But there are some
guys that are very smart now
that can even take a moving picture.
There are AI generators now that can make
a move and eyes to blink
and mouth, lips
to also
lip sync.
If they use those apps,
can they create a fake account
on the platform? Have you tested
it? So you need to do
beta testing.
So if you need beta testing service,
you can speak with us. We can help you
with beta testing service.
If you don't want to speak with us,
you can get
students
to beta test your D app for
you at little or
no fee. You can get
experts in this space. We have lots of
OGs that are experienced.
Speak to them. Sir, please, can you
let me check out this app and give me
an honest review?
While you're also developing your project,
get advisors
on your board.
Don't say because you are small, you don't
need advisors. No, get advisors
on your board. Some OGs
will be very willing to
be your advisor for free.
It depends
on how you approach them. Get
advisors on your board. People that
can look at your project for you.
People that can help you look at the governance
of your project or your startup and
guide you and protect you
from impending trouble
in the future. Also,
do not forget regulation.
Blockchain has
been fully authorized
and approved in Nigeria.
In other words, in a few months,
and years from now,
regulation and compliance will be
a very big thing. Go
for training on regulation
and compliance.
Send your staff.
Send your team members. Send your
co-founder. Send your dev.
Send your dev. Send
your dev. Or if you are a dev yourself,
I just said it three times because it's
important. Repetition
is a law of emphasis. Go
for regulation training.
In the
next two quarters by
Q4, Cyberchain is going to
be releasing some trainings on
compliance and regulation.
Go for such trainings.
Send your people for trainings.
Talk to us. We can come
and train your people even from
next month, from June.
We can come and train your guys
on regulation. So I'm a
student at the University of
Nicosia. I'm running my
masters there. Regulation
is a compulsory
course. Everybody,
whether you are a dev or you are an
analyst or you are a consultant
or anything you are doing,
you must go through blockchain
regulation and compliance because
every project needs it now.
If you don't go
through regulation and compliance,
the day you
raise a seed of $10 million,
the regulators
will come for you and they will see a
flaw because everybody has one
error in their life.
Everybody has one error in
their life. Every project has
one flaw.
Every project has one flaw.
Take that from me. Every
bank, every bank you see in Nigeria
has one error.
But if you are already
considering regulation, you can save
yourself.
And this is where I will close.
Look for
a Web3 lawyer.
Start
speaking with a Web3 lawyer.
If you don't have a Web3
lawyer, make friends
with a Web2 lawyer
or a normal
ordinary lawyer.
Make friends with an ordinary lawyer.
Send that lawyer to us.
Let us train that lawyer on compliance
and regulation
so that the lawyer will understand the
Web3 language. Look
for a friend. If you are a dev
or you are building a DApp
and you don't have so much money,
go and make a friend. Go and make a friend. Make friends
with a lawyer. Look for a lawyer,
a young guy or a young lady.
Make friends with them.
Send them to us. Let us train
them on compliance and
regulation. Let us get
our lawyers into the Web3
space so that they already
know legal
processes. When we now
teach them Web3
applications, they will be able
to tie their legal experience
to Web3 processes.
They will now be able to save you an
amount of money and
advise you better.
It will not cost you too much
to pay $50,000,
$100,000, $200
for your lawyer friend.
Tell your lawyer that we want to send you
on Web3 scholarship
and we will train them for you.
$200 is not too much
to send a lawyer friend
to learn a course
on compliance and regulation.
This is going to be a very big
issue in the next few years
if government comes for you.
The $10 million you raised
will disappear. They will
wipe it off with just one policy.
Overnight, everything
will be gone. They will tell you you cannot operate
in Nigeria.
So don't wait until the hammer comes.
Be on the right side
of the law.
Don't go about
just building and making money.
And when you start making money, please,
I will advise you, don't be quick to go to the public
and start tweeting.
We have 100,000 users.
We are making
$1 million transaction
daily.
We are making $50 billion
transaction year on year.
It's not for your good because we are
living in a very sensitive country.
And we are also operating
in a very sensitive time.
Don't follow
the people that show off wealth.
See, you are not in show business.
You are in technology provision
business. Except you have
the power to go to war.
Don't go and start declaring figures.
There are many multi
billionaires I know in the Web3 space
that have not made any
tweets about the money they have.
And they are living their
lives very well.
So apply wisdom
into everything you are doing.
Apply compliance and
regulation. Apply
cybersecurity processes.
Apply digital security
policies. Apply
penetration testing. Apply beta testing
of your software. Look for
critics.
Honest critics
that can look into your app and
tell you the flaws of your app.
Take criticism with a good
heart. If you are criticized,
don't feel bad.
Apple you see today was criticized.
Microsoft was even criticized
more. But these
are multi billionaires.
Right? If you
are giving an honest or a
dishonest compliment, take it
as feedback. Every feedback
should be worked on. Go back to your
drawing board, look at it, improve
on it, and continue. What we
are doing today at CyberChain, many people
have said many things about us.
But you know what? They
cannot deny the fact that
we are making progress every
day. Ensure you make
progress every day.
Even if you feel tired,
get up. Encourage yourself.
Always do something new.
Daily. Always learn
something new daily. Always
improve on what you are doing
daily. Gradually
you will get there.
SpaceX could
send a rocket after
building it with millions of dollars and
the rocket failed,
they did not fold up.
They continued building
millions of dollars. I don't
think any of your projects
has cost you up to one million dollars.
So don't give up.
That you came for this space this
evening is an indication that
you are going to succeed. And
that's what I want you to take from here
today or tonight
wherever you are on the surface
of this earth. And also try
your best to add to somebody else.
Don't condemn people. A
builder does not condemn other builders
because every builder knows
that it takes blood,
sweat, and tears to build.
So instead of condemning
someone else's project, instead of
trying to put out somebody else's
candle, light someone else's
candle and focus on
your craft. Grind every
day. Focus on your craft.
Focus on what you are doing. You don't
have any business insulting governments.
Those that are making
progress, go and check. They don't insult
government. They focus on
solution creation. And
if you solve a problem,
posterity is there
to bless you. The universe
will bless you. God,
the creator of the heaven and the earth,
will bring people to bless you.
And blessing can mean
that lots of users can come to
your platform. Blessing can mean
that a
VC may locate
you. Right? And
in closing, if
Poblack and the Secret Network guys
will allow, you can share my
contact with them, with
anybody that wants to get my contact.
If you are a startup, we are putting a list
of startups in the Web3
space. It does not matter what you are building.
It can be FinTech,
HealthTech, Agritech, MedTech.
It can be SportTech. Anything
you are building in the Web3 space.
We have a request
from one or two
VCs that want to look into
the project, even if you are
at an ideation stage.
Because there are some ideas
that are far better than some projects that
are out there already. So
even if you are at ideation stage,
we are going to be putting out a form
soon. Please
ensure you speak with
our hosts, right? Or
follow me on LinkedIn
or Twitter. Or you can
come to my DM.
My Twitter DM is open.
You can come to my DM and chat with me.
Right? So we will send
you the form. We are bringing it out
in the first week of June. So you can
put in your details there. We want to see
how we can grow startups.
One of the things that you are going to be getting
from our partners
is infrastructure. You are also
going to be getting managerial support because
it is not enough to just give people money.
Right? So you are going to be getting
managerial support. You are going to be getting marketing
support. You are going to be getting infrastructure
support and
all of that. I want to see
that in a few years, we should
be having unicorns in
the Web3 space from
Nigeria. So
I will take my
break here.
I want to thank
all of you for listening.
I want to thank our host for having me
on this talk, this discussion this
evening. I hope the few things
I have said have added one or two things
to you. And
I am also delighted to be a part
of the Secret Network. Then also
if you are in Kanu, I don't know if I am
allowed, but let me just put it here.
If you are in Kanu, we are going to be
in the city of Kanu
on the 22nd of July.
We just came back from Potakot
last week, Saturday.
On Saturday, 22nd of July, we are
going to be in the city of Kanu.
Kanu State, Nigeria. So if you are
in the north, if you are within
Kaduna, Gombe, Katsina
and the rest of them, you can plan
to come and see us
in Kanu, 22nd of July.
If you follow us on
Twitter, you most likely will
see when we make our announcement
later in the month of June.
So we are going around Nigeria. Last year
we were in five cities. We were in
Kanare, we were in Benin, we were in
Uyo, we were in Abuja,
we were in Lagos. This year
we started off with Potakot
last week. Then we are going to be going to Kanu.
Then by God's grace, we will also
go to Abuja and we will
wrap up with Lagos again
for the year.
And as God helps us
with support from our
ecosystem partners and our sponsors,
maybe we will
cover a few more
cities within the year of
in the new year. So thank you
guys. Thank you very much for your time
for hosting me. Thank you to
all of you that have taken time to listen.
You are the most important
people. You are the very
important people here. We
appreciate you so much. Please
stay safe online.
Keep your digital identity safe.
Practice safe online
processes.
And I wish you more tokens.
I wish you more coins in your
wallet. I wish you more
pump because everybody
will be happy when the market is
pumping. So I wish you
all the very best in everything you are doing.
Also, physically stay safe. Please
don't go out when it's dark because
the society is becoming very
sensitive. Don't go out
with the devices you use to trade.
If you must go out with them,
make sure you just keep yourself safe
whenever you are
out somewhere. And the best will
always come to you. Thank you very much
everyone. Once again, my name is
Jude Osinegbe for those of you
that joined later. And
I'm grateful for having me
here. Thank you. I'm done
speaking. God bless you.
Yeah, thank you very much
Mr. Jude for joining our space tonight.
The space has really been
educational, inspiring, interesting,
and thanks for all the advice you
gave to us. We'll make sure to follow that.
Thanks so much for inspiring the
listeners. And I'm also inspired to be honest.
So guys, if listening
to what Mr. Jude has to say, I believe
we've learned so much on cyber
security and privacy. And to be honest,
there is so much to cover when it comes to
cyber security and privacy. But due to the time
we'll be having Mr. Jude on our space again
to discuss more about it.
Please do make sure you stay safe online.
Make sure whatever it is you're doing online,
you should be careful. And regarding the
regulation he spoke about, this is very important.
There's a project I'm working with. There are some
certain things we can't tweet on Twitter.
There are some certain words we are not allowed to use.
If I didn't know about the regulation, I would have made a
mistake and it would have costed a lot.
So this regulation is very, very important.
As a crypto guy,
as a startup, as a project funder,
you need to learn this regulation. If not,
it's going to alter at the end of the day. You need to get a lawyer.
This is very, very important.
I'm happy I didn't learn
the hard way. I'm happy I was able to
learn it the good way without having
to face some consequences. And this is
very, very important as you guys take care of this.
Thanks so much, Mr. Jude, for telling us.
Okay, I think, Mr. Jude, can you answer
any questions at all?
You can probably send me a DM or can we
ask the same question before we end tonight's
meeting?
I have another meeting,
so I may have to go.
Right?
Okay, sure. Please, if you have any questions,
just send it to my DM or drop it on the tweet.
We'll be answering the questions.
Thank you very much, Mr. Jude, for
joining us tonight. And thanks to all
of you who tuned in. You have a wonderful
night. Thanks for tuning in.
And please do make sure you follow Mr. Jude
on Twitter. Make sure you connect with him on LinkedIn.
Thanks so much, guys, for joining us.
You have a wonderful night. Bye.
