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NIGERIA TO LUNCH DIGITAL CURRENCY (e-NAIRA)_WHY CRYPTO IS THE FUTURE

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Chiedozie24
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Nigeria is set to join countries like the Bahamas, saint kitts and Nevis, Antigua and barbuda, saint lucia and Grenada who have lunched digital currency.

credit:nairametrics.com

eNAIRA is a digital currency that utilized blockchain technology. It is issued by central bank of Nigeria (CBN) and has same value as the FIAT Naira. It ensures faster, secure and more efficient transaction. As countries begin to adopt digital currency i feel it is time understudy the models and playbook of digital currency and crypto currency being the forerunner should be given raft attention.

internationally recognized companies like Google, Amazon, Microsoft and PayPal have joined in accepting crypto currencies for payment. Currently Google payment system API now supports blockchain payments. PayPal users in united states can can also now pay with crypto currencies.

International Payment company like Mastercard has planned to integrate certain crypto currencies on its network based on the internal survey that shows approximately 40% of consumers from 18 countries intend to use cryptocurrency by 2022.

Moreover, travelers will be able to purchase airline Tickets with cryptocurrency in Venezuela in the near future. This was announced on october 11th by sergio Goschenko. tWO Nationan airline venezuela conoviasa and Turpial have announced thier desire to accept cryptocurrencies as a mode of payment. These are many more will be announced in different part of the world. Though I see situation where by government would want put strict regulations where necessary.

what made some companies in Nigeria to start accepting crypto?

Any company with global foot print need a payment solution that would workforce them. in fact, the average fee for transferring remittances to Africa was 9.4 percent in 2017. the world Bank found. This implies that high fees eat up a lot of money and would discourage international partners.

The goal is to move from accepting cryptocurrency as a merchant to creating a trusted community for your customers to transact on crypto.