Cryptocurrency Can Uplift The African Economy, Says Blockchain Experts in Nigeria

Dec 26, 2018 at 18:00 Update Date :Dec 26, 2018 at 18:00 UTC

When it comes to finding a place where there is a mass crypto adoption in the world, then one of the first names that come to the mind is Africa. The blockchain experts in Nigeria are better known for imposing great rules and regulations on the cryptocurrency. Not just this but the blockchain experts in Nigeria also strengthens the crypto sector and aids the economy of the country.

Blockchain Experts and Luno Meet

The blockchain experts in the African continent believe that the crypto industry, in order to perform perfectly, needs more stability and should be guided in the right direction.

In the Luno Meet which was organized in Nigeria with a theme – “Building Trust in the Nigerian Cryptocurrency Market”, many qualified blockchain experts of the country were discussing the future steps to be taken – for the blockchain industry of Nigeria and for the betterment of the continent.

During the meet, the CEO of Blockchain Solutions Limited, Lucky Uwakwe said that the digital currency is rising day by day. As of now, around 65% of the people are aware of the digital currency. Further citing the research of Luno Nigeria, he told the audience that more than 25% of the people now have cryptocurrency in some form. Around 51% of the people see the digital currency as the best mode of investment, 16% are using it for Internet shopping whereas 19% use it as a mode of payment.

The focus of the Chief Executive Officer is to highlight that the digital currency is on the rise and his country needs to be quick in order to be not left behind. Lucky Uwakwe quoted:

“Bitcoin is the first cryptocurrency to use peer to peer technology; It is a simpler implementation of blockchain technology; Functions as a payment tool that can be used to send money, and carries value as an investment tool.”

Speaking on the same note, Owenize Odia, a blockchain expert, and Country Manager discussed the importance of regulations in a country. He told people how regulations can build trust among the crypto sectors of Nigeria and other parts of Africa.

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