Hello and warm welcome to my Crypto Africa series post.
Crypto Africa;
Crypto Africa is the name I choose for my post of Blockchain technology and Cryptocurrency adoption across Africa.
On today's edition, I write about Nigeria having the potential to make cryptocurrency dominant in Africa.
As of now, cryptocurrencies is yet to be fully popular across Africa. With governments and commercial banks fighting and hindering the adoption of Cryptocurrencies, it is almost impossible that Cryptocurrencies will receive full adoption across Africa.
Nevertheless, huge efforts are being made towards promoting cryptocurrency adoption in some africa countries like South Africa, Kenya and Uganda.
However, the most populated countries in Africa which one would expect to be at the forefront of promoting cryptocurrency adoption are still very much behind.
Nigeria being the most populated country in africa with a population of over 190 million people, cryptocurrency is only hitting this country at its surface.
The Nigerian constitution in itself like those of many other African countries does not recognize cryptocurrency as a legal tender. Reason why traditional banks still have an edge of carrying financial transactions and make things difficult for cryptocurrency to penetrate the territory.
Besides, In recent times, Nigeria has proven to be a nation of individuals that would rather have an independent financial structure for financial management and profit making thus, they prefer to deal with Cryptocurrencies on the internet.
On this effect, if this individuals take up the responsibility of spreading the notion of Cryptocurrency to masses, this would shake up the country/population into cryptocurrency adoption.
Targeting the huge population of Nigeria is definitely a good step towards adopting cryptocurrency across Africa.
Thank you for your time!
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