Blockchain entrepreneur James Saruchera, the co-founder and CEO of Kuva, is calling on governments and regulators to rethink their relationship with the crypto industry. In an interview discussing the rise of blockchain adoption, Saruchera argued that the crypto community should not be viewed only as a source of regulatory concern, but as a practical ally in improving transparency, combating illicit finance, and expanding financial access.
His comments come against a broader backdrop in which blockchain usage accelerated after the second quarter of 2020, while governments and central banks also became more active in exploring digital currencies. At the same time, regulatory pressure on the wider crypto sector has continued to intensify in both developed and developing markets. Saruchera’s position is that policymakers risk overlooking one of blockchain’s core strengths if they approach the industry solely through enforcement and restriction.
A Mission Shaped by Inflation and Currency Instability
Saruchera traced his motivation for building Kuva to the lived reality of people in developing economies, where local currencies often fail to preserve value. He argued that many residents in such countries are effectively trapped in money that may lose 10% or more of its purchasing power each year, steadily eroding savings even when households act prudently and save consistently.
He also connected that macroeconomic problem to his personal experience. Saruchera said he witnessed his own parents’ pension, built over more than 30 years, wiped out by hyperinflation. That experience led him to ask what might change if billions of people had a reliable way to protect the value of their money and preserve more of their spending power each year. In his view, blockchain can be part of that answer, especially if the technology is adapted to the realities of emerging markets rather than imported wholesale from wealthier economies.
Why Kuva Built Its Own Blockchain
One of the most notable points in the interview was Saruchera’s explanation for why Kuva chose to develop its own blockchain instead of building on an existing network. He acknowledged that launching a new chain is a daunting task and said the team initially assumed that using established blockchain infrastructure would be the obvious path. Over time, however, they concluded that the practical conditions in developing countries required a more purpose-built system.
According to Saruchera, challenges such as the “last mile,” poor connectivity, the need to interface with cash, and other on-the-ground constraints make many globally known blockchain systems insufficient for markets where infrastructure is less consistent. He argued that platforms designed in major technology hubs may not be optimized for the realities of users in Africa and other emerging regions. For Kuva, that meant building from the ground up with those markets in mind.
That strategy is closely tied to the company’s value proposition. Saruchera described the Kuvacash wallet as one of the closest products available today to truly global mobile money. He said the blockchain behind it is designed as a multi-asset network that gives users direct control and custody of funds through their mobile devices. He further claimed that the system is intended to bridge cash, blockchain-based assets, and the global banking system in a way that other chains and mobile operating systems do not.
Early Traction and User Reach
Saruchera also shared several early milestones for the company. After three years of what he described as quiet but intense development, Kuva’s pilot platform had already recorded more than 10,000 downloads across 75 countries, driven largely by word of mouth. He added that the platform had processed more than $20 million, which he presented as an early sign that the product is addressing a real market need.
While those numbers remain early-stage in the context of the broader global payments and crypto industries, they provide an indication of interest in products built around practical utility rather than speculation alone. In Saruchera’s telling, Kuva is trying to solve a very specific set of problems: helping people move value more easily, hold assets more securely, and navigate unstable local currency environments with greater flexibility.
Blockchain as Part of the Solution, Not a Cure-All
Saruchera was careful not to present blockchain as a universal fix for monetary instability. He said explicitly that blockchain is only part of the solution to currency depreciation. One reason, he noted, is that even U.S. dollar stablecoins are still exposed to the declining purchasing power of the dollar itself. In other words, digitizing money does not eliminate inflation risk if the underlying currency continues to weaken in real terms.
That is one reason Kuva opted for a multi-currency framework. Saruchera argued that users should be able to move seamlessly between currencies depending on which one is doing the best job of preserving value. This approach reflects a more pragmatic view of digital finance: instead of assuming one currency or one token standard can solve everything, users may need optionality and flexibility, especially in economies vulnerable to persistent inflation or exchange-rate instability.
Regulation, Compliance, and the Case for Cooperation
On regulation, Saruchera pushed back against the idea that the crypto sector and regulators are inherently on opposite sides. He said many crypto users are ordinary working people trying to improve their lives, save for their families, or pay for their children’s education. In his view, these users are not fundamentally opposed to reasonable compliance measures such as know-your-customer checks. Nor, he said, do they want to see criminal abuse of the system.
His core argument is that blockchain can offer transparency and traceability that cash cannot. Because transactions can be recorded and analyzed on-chain, the technology may be better suited than legacy cash systems for tracking suspicious flows and identifying problematic behavior. For that reason, he said regulators should view the crypto and blockchain community as a useful ally in efforts to combat money laundering and the financing of illicit activity.
That framing shifts the conversation from confrontation to collaboration. Saruchera suggested that too little attention is being paid to the possibility that regulators and blockchain builders may actually share common goals, particularly around consumer protection, system integrity, and safer financial participation. If that perspective gains traction, it could influence how future regulation is designed—less as a blanket attempt to suppress risk and more as a framework for channeling innovation toward public benefit.
Public-Private Cooperation and CBDCs
Saruchera also weighed in on central bank digital currencies and the role of public-private partnerships. He said cooperation with the private sector is essential because much of the technical and strategic blockchain expertise currently resides outside government. Unlike legacy industries where state-funded institutions historically led breakthrough research, blockchain innovation has largely been driven by private companies and entrepreneurs.
That means governments pursuing CBDCs or broader digital financial infrastructure may need to work closely with the companies already building at the frontier. In Saruchera’s view, such cooperation is not optional but practical. Without it, public institutions may struggle to close the expertise gap quickly enough to deploy effective digital systems.
Emerging Markets at the Center of the Debate
Another theme running through the interview was the importance of emerging markets in the next phase of blockchain adoption. Saruchera said African central banks and governments should not only embrace blockchain technology but actively encourage innovation in the space. He compared blockchain’s long-term potential to that of the internet, arguing that transformative technologies can help poorer nations improve efficiency, expand opportunity, and raise living standards when adopted effectively.
He added that similar openness is becoming visible in parts of Latin America. That matters because many of the strongest real-world use cases for blockchain—cross-border payments, protection against currency instability, and broader access to financial tools—are especially relevant in regions where traditional systems are expensive, fragmented, or unreliable.
A Broader Industry Message
Overall, Saruchera’s comments offer a message that extends beyond Kuva itself. Rather than arguing for deregulation, he is calling for a more nuanced regulatory approach—one that recognizes risk but also acknowledges the practical benefits of blockchain infrastructure. His position is that the crypto sector should be judged not only by speculative excesses or bad actors, but also by its capacity to improve financial transparency, support lawful compliance, and create tools for people underserved by conventional finance.
Whether regulators adopt that view remains uncertain. But the interview highlights a recurring tension at the center of the digital asset industry: the same technology that raises concerns for policymakers may also provide new mechanisms for oversight, accountability, and inclusion. For entrepreneurs like Saruchera, the next stage of blockchain growth may depend on convincing regulators that cooperation could achieve more than confrontation.