LECTURE ON ACCESS TO FINANCE- The Need to Embrace Blockchain Technology as a Means of SME Funding

ACCESS TO FINANCE

The Need to Embrace Blockchain Technology as a Means of SME Funding

Theme:

"Blockchain Technology: The Pathway to the Future of Finance and Business Development"

Lecture Delivered By

*Moses O. Igharo*

Head of Operations;

HAAGEN Global Service Limited

(A Cryptocurrency, Blockchain Development and Digital Financial Technology Company)

*PROTOCOL*

The Executive Governor of Edo State, His Excellency Senator Monday Okpebholo, ably represented; the Special Adviser to the Governor on Human Capital Development, Hon. Dr. Odaro Ize Omorogie;

The Managing Director/CEO of Edo Shoe Manufacturing Company, 

Mr. Osemwengie Victor Odion; 

Distinguished guests; representatives of the World Bank; officials of the Federal Ministry of Education; ladies and gentlemen; graduating artisans and entrepreneurs.

Good morning.

I am honoured to stand before you today on behalf of HAAGEN Global Service Limited, a Cryptocurrency and Blockchain Development Company committed to developing innovative blockchain solutions that empower businesses, institutions, entrepreneurs and individuals through emerging digital financial technologies.

First, let me congratulate every graduate seated here today.

Today is not merely the end of a training programme; it is the beginning of your journey into entrepreneurship, wealth creation and economic independence.

The skills you have acquired in leather works and fashion design are valuable assets. However, in today's rapidly changing world, technical skills alone are no longer enough.

To succeed, every entrepreneur must understand the future of business, finance and technology.

That future is already here.

*THE EVOLUTION OF MONEY*

Human civilization has always searched for better ways to exchange value.

Money did not begin with paper notes.

It evolved over thousands of years.

Understanding this evolution helps us appreciate why Blockchain Technology is becoming one of the greatest financial innovations of our generation.

*Stage One: Trade by Barter*

In ancient times there was no money.

People exchanged goods directly.

A farmer exchanged yam for fish.

A shoemaker exchanged sandals for food.

A hunter exchanged meat for clothing.

Although this system worked for small communities, it had many problems.

Both people had to want exactly what the other possessed.

There was no common measure of value.

It was difficult to save wealth.

Large-scale trade became almost impossible.

Society therefore searched for a better solution.

*Stage Two; Commodity Money*

People began using valuable commodities as money. Items like, Cowries, Salt, Gold, Silver, Copper all became accepted as a medium of exchange.

Trade became easier.

Yet there were still problems.

Transporting wealth became difficult.

Security remained a challenge.

*Stage Three; Coins*

Governments introduced officially minted coins.

Coins created trust.

People could easily determine value.

Trade expanded across kingdoms and nations.

*Stage Four;  Paper Currency*

As economies became larger, paper money emerged.

Banks issued notes that represented value.

People no longer needed to carry heavy quantities of gold or silver.

Paper currency revolutionized commerce.

For centuries it remained the dominant form of money.

*Stage Five;  Electronic Banking*

Technology transformed finance once again.

Banks introduced

- ATM Cards

- Debit Cards

- Credit Cards

- Internet Banking

- POS Machines

- Mobile Banking

Money gradually became digital.

Although we no longer physically touch much of our money, most transactions today already occur electronically.

*Stage Six; Digital Payments*

Today we buy goods using, Mobile Apps, QR Codes, Bank Transfers, Digital Wallets, Many young people hardly carry cash anymore.

The world is gradually becoming less dependent on physical cash.

*Stage Seven: Blockchain and Digital Currency*

Today, humanity is entering another financial revolution.

That revolution is called Blockchain Technology.

Many people think Blockchain simply means Bitcoin.

That is incorrect.

Bitcoin is only one application.

Blockchain itself is a revolutionary technology capable of transforming finance, healthcare, education, manufacturing, agriculture, insurance, logistics, land administration and government services.

Blockchain creates secure, transparent and tamper-resistant records that can be shared across networks without relying on a single central authority.

Just as the Internet transformed communication, Blockchain is transforming how value moves around the world.

*IS THE WORLD MOVING TOWARDS DIGITAL MONEY ?*

The answer is Yes.

Across the globe:

Digital payments continue to grow.

Central banks are exploring digital currencies.

Businesses increasingly accept electronic payments.

Consumers expect faster and more convenient transactions.

This does not necessarily mean physical cash will disappear completely in the near future. For many years, cash, bank deposits and digital currencies are likely to exist side by side.

However, the direction of travel is clear: finance is becoming increasingly digital, and blockchain is expected to play an important role in that future.

*WHY THIS MATTERS TO EVERY ARTISAN*

Whether you are:

- A shoemaker.

- A fashion designer

- A leather craftsman.

- A welder.

- A carpenter.

- Or a mechanic.

You are no longer competing only within Benin City. Technology has created a global marketplace.

Your next customer may come from London, Dubai, New York, South Africa, Kenya, or Ghana.

Technology has removed geographical barriers.

*THE BIGGEST CHALLENGE OF SMALL BUSINESSES*

One challenge continues to affect almost every entrepreneur.

Access to Finance.

Many small businesses cannot obtain loans because they lack:

Collateral, Credit History, Guarantors, Financial Records. Excellent businesses remain small because funding is unavailable.

*HOW BLOCKCHAIN CAN CHANGE SME FUNDING*

Blockchain introduces entirely new methods of financing businesses.

Instead of depending only on commercial banks, entrepreneurs can increasingly explore blockchain-enabled financial services where regulations permit.

Examples include:

• Tokenization of business assets.

• Digital investment communities.

• Blockchain-based crowdfunding.

• Decentralized Finance (DeFi) lending platforms.

• Global digital payment systems.

• Smart contracts that automate business agreements.

For artisans, blockchain can make it easier to build transparent business records, receive international payments, and connect with new sources of capital. These opportunities should always be approached with proper education and an understanding of the applicable laws and risks.

*WHY YOUNG PEOPLE MUST LEARN BLOCKCHAIN*

The youth of today will build tomorrow's economy.

Learning Blockchain today is like learning computers in the 1990s.

Those who started early became leaders.

Blockchain creates opportunities in:

- Software Development

- Artificial Intelligence

- Digital Identity

- Healthcare

- Agriculture

- Manufacturing

- Supply Chain Management

- International Trade

- Banking

- Real Estate

- Insurance

- Government Services

- Education

Most importantly, Entrepreneurship.

*THE ROLE OF HAAGEN GLOBAL SERVICE LIMITED*

At HAAGEN Global Service Limited, we believe blockchain should solve real-world problems.

Our vision is to bridge traditional businesses with the digital economy by developing secure blockchain solutions, promoting digital financial literacy and supporting innovation.

We are committed to helping entrepreneurs, SMEs and institutions understand how blockchain can improve efficiency, transparency and access to new opportunities in the evolving global economy.

*A WORD OF CAUTION*

With every new technology comes responsibility.

Blockchain offers tremendous opportunities.

But it also attracts fraudsters.

Not every cryptocurrency project is genuine.

Always remember:

If you do not understand it, don't invest in it.

- Learn first.

- Verify information.

- Seek professional advice.

- Protect your money.

Knowledge remains your greatest investment.

*MY MESSAGE TO THE GRADUATING ARTISANS*

You have received valuable technical skills.

Now combine those skills with technology.

- Build your brand.

- Register your business.

- Keep proper financial records.

- Use digital payment systems.

- Learn blockchain.

- Embrace Artificial Intelligence.

- Market your products online.

- Never stop learning.

Remember:

> Your greatest competition is not another shoemaker.

Your greatest competition is refusing to adapt to change.

*CONCLUSION:*

History teaches us that money has never remained the same.

- It evolved from barter

- To commodities

- To coins

- To paper money

- To electronic banking

- To digital payments.

And today, we are witnessing the rise of blockchain technology and digital finance.

Those who understand these changes will be better prepared for the economy of tomorrow.

To the graduating artisans before me today, your hands have learned a trade. Now let your minds embrace innovation. By combining craftsmanship with digital technology, you can build businesses that create wealth, generate employment, and proudly carry the name of Edo State and Nigeria into the global marketplace.

Once again, I congratulate Edo Shoe Manufacturing Company, the World Bank, the Federal Ministry of Education, the Edo State Government, and every stakeholder for investing in human capital development.

Thank you for your attention.

God bless HAAGEN Global Service Limited.

God bless Edo State.

God bless the Federal Republic of Nigeria.