The FinTech Festival 2025, held at the Julius Nyerere International Convention Centre in June 2025, brought together leading innovators from across East Africa and beyond to discuss the future of financial technology and inclusion.
Among the standout voices was Ray Youssef, CEO of peer-to-peer crypto platform NoOnes, and former CEO of Paxful, whose passionate address highlighted the transformative potential of blockchain and artificial intelligence (AI) for Africa’s underserved populations.
“Blockchain is not about meme coins – it’s about peer-to-peer,” said Youssef.
“That’s the ultimate use case.”
Youssef argued that the integration of blockchain and AI in emerging economies is not just timely but essential. These technologies, he said, can automate fraud detection, decentralize transactions, and create immutable records – empowering individuals, small businesses, and governments alike.
CEO Ray spoke at FINTECH FESTIVAL TANZANIA 2025 today The man himself pic.twitter.com/YWXpsMpwuI
— Beno SarkCess (@_BenopaOnyx1) June 13, 2025
Blockchain, AI, and the Real Use Cases
Youssef emphasized that the true power of blockchain lies in enabling secure, transparent, peer-to-peer interactions – not in speculative trading.
From AI-powered fraud detection to smart contracts enabling microfinance and remittances, Youssef outlined how blockchain solutions can directly solve real-world problems. He spotlighted one particular innovation as a game-changer: decentralized digital identity systems, powered by blockchain and AI.
“We have to solve real problems for people,” said Youssef.
“The problems we choose to solve define us. KYC is a big problem in the Global South.”
Unlike traditional identity verification systems, decentralized digital IDs can be issued and verified in remote areas, expanding access to financial services for millions currently excluded from the formal banking sector.
CEO Ray at the Fintech Festival in Tanzania. He’s that guy pic.twitter.com/9koVfQPnKy
— Mempeasem President (@AsieduMends) June 13, 2025
Overcoming Barriers: Education, Trust, and Infrastructure
While optimistic, Youssef acknowledged challenges such as low digital literacy, trust issues in digital finance, and difficulties onboarding users due to complex Know-Your-Customer (KYC) protocols.
AI, he said, offers a compelling solution to the trust problem by enabling secure reputation systems in financial marketplaces. But infrastructure is equally critical.
“If we build the right infrastructure and educate people on the power of blockchain and AI, they will run with it,” he noted, referring to Africa’s young, tech-savvy population.
Youssef urged African governments to establish clear, innovation-friendly policies on blockchain and AI. He also highlighted the importance of universal internet access and digital finance education, particularly for youth.
“It is our duty to provide the right options and build the right systems for young Africans. They are ready.”
The energy among the youth attending the festival seemed to back his claim – with many young entrepreneurs engaging actively in sessions and showcasing blockchain-based solutions.
“The best crypto traders aren’t chasing the moon — they’re solving real problems.”
In this powerful op-ed, @ray_noOnes explains why financial problem-solving is the key to crypto success in the Global South.
Read via @BitcoinKE : https://t.co/GxZuBzVsuv…
— Noones App (@noonesapp) June 13, 2025
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