• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

Could this be the end for stockbroking firms in Nigeria?

Alfred Akuki by Alfred Akuki
November 28, 2018
in Business News, Company News, Spotlight
Reggie Middleton, Veritaseum, Stockbrokers, NSE, Blockchain, NSE, ASEA 2018

Reggie Middleton, Disruptor in Chief, Veritaseum.

Share on FacebookShare on TwitterShare on Linkedin

In what might be the end for stockbroking firms in Nigeria and Africa at large, Veritaseum, a United States-based blockchain technology firm has hinted that the introduction of blockchain technology into Africa’s capital market will eliminate the services of middlemen and thereby reducing transaction time.

Reggie Middleton, the Disruptor in Chief as he likes to call himself, in an exclusive interview with Nairametrics at the African Securities Exchanges Association (ASEA) annual conference themed ‘Champions on the rise: Africa’s ascension to a more sustainable future’ held at the Lagos Oriental Hotel in Victoria Island, Lagos, revealed that several stock exchanges in Africa are in talks with his firm and on conclusion could see the markets adopting blockchain technology for trading processes.

“I am looking at signing agreements with several exchanges and I feel we are very close, I don’t want to reveal other private information and I expect them signed before I go back to New York.” – Middleton

Middleton – who was also a panellist during the ASEA Conference’s Pathways to Inclusive Growth in Africa: Digital Finance, Financial Literacy, Inclusion and the Democratisation of wealth Panel discussion – said if stockbrokers across Africa don’t diversify, they might be phased out as a result of this disruption.

RelatedStories

Weekly Stock Update: Nigerian Exchange Group record growth w-o-w, up by 0.48%

SEPLAT leads value as All-Share Index gains 0.56%, ABCTRANS and BETAGLASS shine 

June 12, 2025
Adverse effects of high-interest rate spreads on the Nigerian economy

Fidelity Bank threatens legal remedies over “malicious publication” concerning CEO’s share purchase 

May 24, 2025
R-L: Patience Oniha, DMO DG, Jubril Enakele CEO Zenith Capital, Herbert Wigwe, GMD Access Bank, Reggie Middleton, Disruptor in Chief, Veritaseum.

The game changer

A blockchain is a growing list of records, called blocks, which are linked using cryptography (the practice of techniques for secure communication in the presence of third parties). Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data (generally represented as a Merkle tree root hash).

By design, a blockchain is resistant to modification of the data. It is an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way. For use as a distributed ledger, a blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for inter-node communication and validating new blocks. Once recorded, the data in any given block cannot be altered retroactively without alteration of all subsequent blocks, which requires a consensus of the network majority.

If the Nigerian Stock Exchange (NSE) eventually introduces this technology into its trading processes, it will eliminate stockbrokers as middlemen, thereby leaving public and retail investors to directly buy and sell stocks during trading sessions. Except stockbrokers in Nigeria diversify, it will be difficult for them to function with the emergence of blockchain in the stock market.


Follow us for Breaking News and Market Intelligence.
Tags: ASEAASEA 2018ASEA Conference 2018Nigerian Stock ExchangeNSEOn the MoneyReggie MiddletonVeritaseum
Alfred Akuki

Alfred Akuki

Related Posts

Weekly Stock Update: Nigerian Exchange Group record growth w-o-w, up by 0.48%
Equities

SEPLAT leads value as All-Share Index gains 0.56%, ABCTRANS and BETAGLASS shine 

June 12, 2025
Adverse effects of high-interest rate spreads on the Nigerian economy
Financial Services

Fidelity Bank threatens legal remedies over “malicious publication” concerning CEO’s share purchase 

May 24, 2025
Billionaire Femi Otedola’s brother, Rotimi sells N4.6 billion Geregu shares 
Billionaire Watch

Billionaire Femi Otedola’s brother, Rotimi sells N4.6 billion Geregu shares 

February 10, 2025
President Tinubu inaugurates 30 CNG-powered buses donated to the federal government 
Business News

Climate Change: Tinubu establishes national engineering innovation fund 

November 20, 2024
Atiku Abubakar
Energy

Atiku demands listing of NNPC on stock market amid alleged privatization of Warri, Kaduna refineries 

September 2, 2024
Nigerian Stock Exchange
Markets

Why you shouldn’t ignore the Nigerian stock market 

August 13, 2024
Next Post
Alcoholic drink

Are spirits, bitters eroding the value of beer makers? 

Comments 5

  1. Mo says:
    November 28, 2018 at 8:10 am

    Has this technology also eliminated stockbrokers in the USA

    Reply
  2. Anonymous says:
    November 28, 2018 at 5:31 pm

    No. No matter how you trade: real time or not you still need a platform on which to trade which only brokers can provide. However they will need to change their current business model in order to survive. Because the competition will be stiffer. Only the innovative will survive. In the US. you stil have the likes of ETRADE, SCOTTRADE, CHARLES SWAB ETC. and even Banks that offer trading platforms.

    Reply
  3. Anonymous says:
    November 28, 2018 at 7:43 pm

    No question and answer session for the public to get enlightened on this innovation than the time bomb you dropped into the air space. Our journalists in this part of the world require more training.Your article should tell us how the technology would work independent of the brokers.

    Reply
  4. Eze says:
    November 30, 2018 at 4:42 am

    Reggie Middleton can be a blowhard and alarmist. Brokers are doing just fine in the USA the home if block chain.

    Reply
  5. Anodebenze says:
    December 4, 2018 at 5:26 pm

    You have all said it,in your article.it is the same,the same process.blockchain,i think is the linking things faster and moving things faster than the present process.if you look at international brokers,if you uses any international broker from Nigeria,they are using this international broker

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank
Zenth Bank








DUNS

Recent News

  • UK work visas drop 39% in 2024, health and care approvals plunge 85% amid stricter immigration rules 
  • Meet Lauren Leichtman, the first woman to build a billion-dollar fortune in private equity 
  • Technical education enrolment examination in Nigeria surges by 300% in 1 year – NABTEB  

Follow us on social media:

Recent News

UK, worker visa

UK work visas drop 39% in 2024, health and care approvals plunge 85% amid stricter immigration rules 

June 15, 2025
Meet Lauren Leichtman, the first woman to build a billion-dollar fortune in private equity 

Meet Lauren Leichtman, the first woman to build a billion-dollar fortune in private equity 

June 15, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics