I remember how infuriated I was the day I watched a video
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of some CBN executive talk about bitcoin and cryptocurrencies. The man did not even know the difference between private keys and public keys. He said that only 12 blockchains existed (this was earlier this year, 2017). I was annoyed! Lol! I mean this is the CBN, the Central Bank of Nigeria.
This is just my naive perspective though, I am sure this man is competent in many areas and infinitely smarter than myself and he was supportive of blockchain technology, so Iove him!
Nevertheless, CBN should be the one telling us about innovation in the fintech world. They should know better. At this point I am going to counter myself again by saying that: I guess the innovation did not come from them and it is sort of anti-CBN, maybe that is why they do not know so much. How can you regulate something you do not understand?
Anyways, I should not have been surprised because the SEC had earlier released an article to showcase their ignorance when they classified onecoin, swisscoin and bitcoin as the same. I didn't know much then but it did put a lot of fear in me. https://news.bitcoin.com/nigerian-sec-associates-shady-mlm-schemes-like-onecoin-with-bitcoin/
What I have learnt from cryptocurrency adoption in my country is that no one should depend on the government. DO YOUR OWN RESEARCH. Be your own man. If you wait for the government to give you goodies you are going to get very little or nothing at all. I have always thought the government should help the people but the truth is that, the government needs help.
I was lucky to stumble upon a NGO called CDIN (Cryptography Developement Initiative of Nigeria) I learnt so much from them. I am now better equipped to make some decisions about cryptocurrencies.
Right now I make some decent money off cryptocurrencies. I am learning everyday and trying to prepare myself for a world of blockchain technology.
Sometimes I wonder what I would be doing if Adeolu Falade has not decided to start CDIN or if I had not taken the initiative to buy that 100$ course from nexxusuniversity.com. Maybe I would be slaving away in my 9 to 5 job and waiting for my farm harvest. Blockchain technology provides an opportunity for prosperity and Nigerians should embrace it. Because like Don Tapscott said in his tedtalk: technology doesn't bring about prosperity, people do.
Nigeria is a great county. There are many who have taken strategic positions to help people, or do business in the forthcoming blockchain economy. One of such individuals is Chris Ani who is having a webinar on August 1, 2017. This is just days after the launch of the first online shop in Africa that accepts bitcoin as the only means of payment; shopnow.ng.
Shopnow.ng was launched on the 29th of July 2017, in the midst of the bitcoin fork 'wahala' and and Chris Ani is one of the founders. I will advise you to go for this webinar, if you are new to this crypto-wonderland. Equip yourself with knowledge and take your chance at this digital goldrush.
Finally, I'll allow my dear CBN to answer the question that has captivated you to read this write up. Stop bitcoin?
https://news.bitcoin.com/central-bank-of-nigeria-says-we-cant-stop-bitcoin/