The blockchain technology is sweeping across Africa and different governments are investigating, regulating or adopting the technology. However after moving a motion to understand the technology by a lawmaker in the Nigerian National assembly in April, little or nothing has been said about the fate of the blockchain technology nor its underlying use case, cryptocurrencies. Governments across the world are already adopting the technology and the Nigerian Federal Government has been advised to also adopt and invest in the blockchain technology. As the technology would help attract Foreign Direct Investment (FDI) into the country.
The Governor Reserve Bank of Zimbabwe recently announced that the country would take time in studying and understanding the technology. However the same cannot be said for the Nigerian Government. However, the Chief Executive Officer of Kure Holdings, Mr. Tega Abikure, called on the government of Nigeria asking them to adopt the technology. Mr Abikure, who is also the founder of Kurecoin was of the opinion that with the effective collaboration of the industry and governmental support, the adoption of blockchain technology could become a major source of foreign direct investment for Nigeria.
Mr Abikure who spoke during a company investment forum held in Lagos recently noted that the Nigerian government was slow to adopting the technology which could serve as a drive changing the economic development in the nation. He revealed that while other nations were adopting it we were lagging behind. He state, “South Africa has already started taking actions, same as Uganda.” He explained that although Ponzi schemes have negatively affected the reception of cryptocurrencies, with understanding, the government can adopt this life changing technology. Mr Abikure explains, “The 21st century economy is one based on information and proper education. Blockchain and its applications would only bring ultimate benefits when people begin to study properly and then put this knowledge to effective use.”
The advice is one that the government of Nigeria needs to look into. Countries like South Africa, Zimbabwe, Kenya, and even Ghana are taking huge steps towards investigating and adopting the blockchain technology. Nigeria shouldn’t be left out of this revolution sweeping across industries.
What do you think the Nigerian government adopting the technology? Share your opinion with us in the comment section below.
Image credit: pixabay, cryptotvplus
The Information provided on the website is designed to provide helpful information regarding cryptocurrency subjects. The content is not meant to be used, nor should it be used as a basis, foundational knowledge or prerequisite for decision making regards trading. Always do your own research and due diligence before placing a trade. We are not liable for any outcome based on any content found on the site.
Busted: China Has ‘Banned’ Crypto for the umpteemth time
Twitter Lanches Bitcoin Tip Service, Available on iOS Devices
Dubai regulators have flung open the door for crypto businesses
Giveaway Scam Resolve; Bitcoin.org is back online: Will the perp be found?
VanEck to Give Clients Access to Crypto by Offering a Solana ETF
Solana based DEX, Orca Closes $18M Series A Round
We don’t expect all businesses to adopt e-Naira –CBN
We chose Bitt Inc for the e-Naira because of Capacity & Experience – CBN
KB24 Launches NFTs Collection in Memory of Kobe Bryant, Proceeds to be Given to Charity
Watch the Latest Edition of Inside Blockchain – 29th Nov. 2020
Crypto Roast is LIVE – 27th Nov. 2020
AMA Series with Beam CTO & Tech Lead, Alex Romanov
Keep it Locked on to Cryptotvplus
Inside Blockchain | 16.11.2020
Inside Blockchain: WHY YOU SHOULD BECOME A BLOCKCHAIN DEVELOPER
How Blockchain Technology Can Transform Governance In Africa
E-naira Project Award to BITT Raises Regulatory Questions
The Central Bank of Nigeria’s e-naira Project has generated a number of questions lately. The most recent is the contention...
Ecosystem Growth Fund: The newest ways to market and promote blockchain platforms
Fantom, Harmony, Algorand & OKEx has in less than a month announced a billion dollars fund to boost development on...
TOKEN2049 Returns for In-Person Event this October in London
Highly anticipated conference at the forefront of the digital assets space marks the return of one of the first major...
OKEx Launches Super Affiliate Program
Are you a KOL or content creator in the crypto space? Do you want to boost your earning by introducing...
Influencers Are the Drive behind NFTs Popularization – Karla Obarkpolor
The founder of NFT marketplace Qlipit and Crypto Asset Management Company, Crypto Smart has stated that influencers have played big...