The Blockchain Association of Uganda has issued a warning to members of the public to stay away from the upcoming Kampala Block Chain Summit.
The summit organized by a company known as Streakk, is scheduled for 17th January 2023, at Sheraton Hotel under the theme “Unlocking the potential of your crypto.”
Kwame Rugunda, the head of the Block Chain Association — which brings together Tech, legal, academic, and industry experts working with blockchain technology and cryptocurrencies in Uganda – says the event organizers Streakk has recently shown “red flags” and could be among those involved in fraudulent activities.
“Having preliminarily reviewed Streakk, our industry opinion is that Streakk presents numerous red flags, and those participating with them are doing so at their own risk,” he said.
“Therefore, the Blockchain Association of Uganda hereby distances itself from the Kampala Blockchain Summit.”
Mr Rugunda further notes that blockchain and cryptocurrency industry has attracted global interest, with several companies providing various innovative services, while others are masquerading as crypto businesses, yet in effect are using crypto rhetoric and marketing gimmicks to operate scams and defraud citizens.
Some of the scams in Uganda have included companies such as OneCoin, Dunamis and D9 among others.