Mr Reginald Tumusiime has been named as the new chairman of the Blockchain Association of Uganda (BAU) six years after its establishment.

Mr Tumusiime is taking over from Kwame Rugunda, the founding chairman, who has steered the association since its inception in 2018.

BAU an industry body comprising professionals working with blockchain technology, has been at the forefront of defining Uganda’s blockchain agenda. With several milestones and learning lessons over the years, the association has made its mark and pushed Uganda to become one of the reference nations in Africa on matters of blockchain technology.

At the handover dinner, Rugunda reflected on the association’s journey, highlighting the challenges and triumphs. “When we started in 2018, blockchain was hardly understood in Uganda. We faced an onslaught of crypto scams, but with support from the Central Bank and the President, we gained credibility and demystified blockchain,” he said. “We organized ourselves and held a large event, which received support from the President, giving us a lot of credibility. Since then, we’ve done a lot of work to demystify blockchain and attract key players in the private sector, including large corporates like Nile Breweries, which started experimenting with the technology.”

Rugunda emphasized the importance of collaboration with government agencies like the Bank of Uganda, Capital Markets Authority, and Financial Intelligence Authority.

“Working closely with these agencies is crucial for the growth of blockchain in Uganda,” he said. He handed over the reins to Tumusiime, who praised the outgoing team for laying a solid foundation.