Reflections of a Financial Analyst: James Hillary Obonyo

Ever wondered how a financial analyst got involved in blockchain tech?

From gaining close legal experience of a scam, thoughts on policy and frameworks around blockchain, to participating in Kenya's regulatory sandbox, here's what FA OBONYO, Hillary James CPA , MCSI , MBA had to say about his journey:

• Please share a short intro about yourself, where you’re from and what you do:?

I am James Hillary Obonyo, based in Nairobi, Kenya. I work as a Financial Analyst at the Capital Markets Authority- Kenya , contributing to the Licensing Department. Additionally, I actively participate in and support the Regulatory Sandbox, bringing with me more than five years of valuable experience.

• What inspired you to get into and stay in the blockchain space??

The transformative potential of blockchain technology in reshaping traditional financial systems and fostering innovation captivated my interest. Witnessing the nascent developments in the Kenyan capital markets fueled my excitement for the possibilities that distributed ledger technology brings.

Being at the forefront allows me to champion its adoption, contributing to the evolution of financial practices in the country. The dynamic landscape of blockchain keeps me engaged, offering continuous learning and exploration of novel solutions to enhance the financial sector.

• What has been the biggest lesson from your (Web3) career, so far??

The most significant lesson from my career in Web3 and the finance industry is the inevitability of change. Staying relevant and adapting to trending innovations are crucial aspects for both fintech companies and regulators.

Concepts like establishing regulatory sandboxes acknowledge these nuances and provide a platform to seamlessly incorporate emerging innovations in the finance field. The dynamic nature of the industry emphasizes the importance of continuous learning and proactive adaptation to drive positive transformations.

• Have you or someone you know ever been scammed in the Web3 space? Tell us what happened.?

One of the virtual assets legal cases in the Kenyan jurisdiction originated on my desk. I managed the investor's complaint, conducted a thorough background check, interacted with the involved company, and initiated the enforcement action that eventually led to the court proceedings. This experience also fueled my growing interest in the Web3 space.

• Anything else you’d like to share with us (and the world)?

The horizon of possibilities with blockchain technology is boundless. Its transformative potential extends beyond the financial sector, reaching into realms like healthcare, digital identity, and supply chain management. Embracing blockchain now is not just advantageous but imperative for Kenya, ensuring its sustained relevance and competitiveness on the global stage.

The technology's versatility promises to reshape various sectors, and seizing this opportunity aligns with Kenya's trajectory towards a progressive and forward-looking future.

We had a go on policy and the regulatory framework around blockchain:?

How do you think blockchain can solve the economic and social problems in Kenya? And what does this mean for you (in your industry)??

Blockchain holds the potential to address economic and social challenges in Kenya through its inherent features that promote transparency, security, and efficiency. In the economic context, blockchain can enhance financial inclusion by providing secure and accessible banking services to the unbanked population. Smart contracts on blockchain can facilitate seamless and transparent transactions, reducing fraud and corruption. This increased transparency can also improve accountability in public services, contributing to better governance and social development.

In my industry, which is likely related to financial services or technology, embracing blockchain can lead to more efficient and secure transactions. It can streamline processes, reduce costs, and enhance the overall integrity of financial systems. The technology's ability to create tamper-proof records and facilitate decentralized, trust-less transactions can revolutionize how financial services are delivered, making them more accessible to a broader population. This, in turn, can contribute to the economic well-being of individuals and the overall growth of the industry.

Your thoughts on the current situation in the global scene in regards to crypto/blockchain regulation.?

The growing acceptance of blockchain technology is evident in its increasing adoption across various sectors and jurisdictions worldwide. As businesses and individuals recognize the potential benefits of blockchain, such as enhanced security, transparency, and efficiency, they are more inclined to embrace its use. This widespread adoption serves as a testament to the value that blockchain brings to various industries, including finance, healthcare, supply chain management, and more.

Furthermore, the empirical evidence of successful blockchain implementations in different regions acts as inspiration for other jurisdictions seeking to harness the technology's transformative potential. By observing and learning from these examples, countries can develop their own legal frameworks and regulatory approaches tailored to their unique economic and social contexts.

Follow me on:

Twitter (X) - @hillary_jimmie

LinkedIn -? https://www.dhirubhai.net/in/obonyojames