Research shows that out of the top 10 cryptocurrency traders in the world, Nigeria is ranked 3rd in which USA and Russia comes 1st and 2nd respectively. Cryptocurrency has developed rapidly in Nigeria due to no need of third party financial institutes but transactions are made base on trust and evidence.
Also the Anonymity for payment nature of cryptocurrency in which users private and public keys are only required for transactions instead of the full personal particulars which are common with third party financial institutions made the development of cryptocurrency in Nigeria more efficient.
Advantages of decentralization
It provides foundations for development of the future executives through the authority delegates to perform certain functions which in turn prepares them against future challenges.
It promotes initiative, flexibility and motivation
It helps the development training on the workers that is it enhances on the job training
It facilitated effective control of human and material resources for attainment of goals
It facilitates quick decision and action taken as the matter is not necessarily needed to get to the top level managers before actions can be taken
Disadvantage of decentralization
It affects the level of productivity most especially when subordinates that authority is being delegated to are not competent
It may hinder quality of decisions since authority is not concentrated on a single fusion dispersion of organization.
The concentration of authority into the hands of different managers managing different outlets
It requires greater coordination by senior management to ensure that individual units in the organization are not working against the interest of the whole
It does require a plentiful supply of capable and well motivated managers, able to respond to the increased responsibilities which decentralization brings about a balance, the advantages out weigh the disadvantage, but this is principally because of enormous pressure on modern business organization to concede more and more authority to state at
It may lead to conflict and confusion
Some benefits of cryptocurrency in the future
1.Banking for everyone
Not everyone has the access to financial services. even if all the amenities needed would require the use of the internet
2.A more self centered internet
You won’t don't need to have all your personal information to use an Ethereum app. Ethereum is expanding an economy supported value, not surveillance.
3.A trade by barter network
Ethereum paves way for the mobility of money, or make agreements, directly with someone else. You don't got to undergo intermediary companies or third parties
4.For business practice
Ethereum creates a more level playing field.
And it could be said to spread like a wild fire that Elon musk who is planning to make people live in space to make doge coin which is also a cryptocurrency as a monetary value to be spent in mars which means if he invest in the business it would reap more than expected investment returns and the price rate will be higher than any other cryptocurrency or money unlike bitcoin which is only used virtually and is currently loosing its value massively from what may be seen if the doge coin is really invested in by the year 2022 as Elon musk says it is going to be a greater future and a good start for the use of the cryptocurrency and in a profitable way.
Conclusion
cryptocurrency is a very good and profitable platform in which people should invest in because of it high acceptability and transperancy compared to the conventional financial system. The core knowledge of the cryptocurrency one wants to invest into should be known and researches should have been made in advance by the investor so as not to enter into a loss oriented trading investment.
The future of cryptocurrency cannot really be predicted cause it’s said to move like the oceans wave it could be highly profitable for some time then at a loss or vice versa but the best thing for an investor to do is to be up dated with the daily activities and charts of each top rated tokens and penny tokens so as not to either fall victim
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