Nigeria
Crypto
Nigerians’ Rejection of Their CBDC Is a Cautionary Tale for Other Countries
Mar 6, 2023 – Nigerians are protesting the African country’s digital currency and demanding renewed access to paper money, despite government incentives.
> coindesk.com/nigerians-rejection-of-their-cbdc-is-a-cautionary-tale-for-other-countries
Nigerian Crypto Exchange Boss: CBN Directive Led Shift of Trades From Centralized Exchanges to Black Market Exchanges
Aug 1, 2021 – It has been more than six months since the Central Bank of Nigeria (CBN) directed banks to stop serving customers from the cryptocurrency industry. While the measure appears to have succeeded in removing crypto entities from the banking ecosystem, the policy has however led to the growth of peer-to-peer trading.
> bitcoin.com/nigeria-crypto-exchange-boss
Out of control and rising: why bitcoin has Nigeria’s government in a panic
As leaders around the world grapple with cryptocurrencies, what happened when the African country tried to ban them?
Jul 31, 2021 – According to bitcoin trading platform Paxful, Nigeria is now second only to the US for bitcoin trading. The dollar volume of crypto received by users in Nigeria in May was $2.4bn, up from $684m last December, according to blockchain research firm Chainalysis. And the true scale of crypto flows through Africa’s largest economy is likely to be much larger, with many trades untraceable by analysts.
> theguardian.com/why-bitcoin-has-nigerias-government-in-a-panic
Nigeria to pilot central bank digital currency in October 2021
Jul 23, 2021 – For much of 2021, the Central Bank of Nigeria (CBN) has been in the headlines for its anti-cryptocurrency measures. Yet, the institution has this week redoubled its investment and research into crypto’s underlying technology, blockchain, and has set a clear date for the pilot scheme of its blockchain-powered central bank digital currency (CBDC).
On Oct. 1, CBN will reportedly launch a pilot scheme for “GIANT,” a CBDC project in development since 2017 that runs on the open-source blockchain Hyperledger Fabric.
> cointelegraph.com/nigeria-to-pilot-central-bank-digital-currency-in-october
Nigeria is the future of Bitcoin
Jul 16, 2021 – In this 4th instalment of the ‘Can Bitcoin Fix Nigeria?’ podcast series I talk to Paxful CEO – Ray Youssef, on why the country of Nigeria and is on the precipice of an explosion is financial inclusion and freedom due to the accelerating mass adoption of the Bitcoin’s Open Monetary Network.