Social Media & Crypto; Why So Much Negative Feedback?
In most corrupt countries where the government are making ill decisions, it hardly affects the rich and already made, what it does is affect the average and struggling people who are cut off from enjoying the economic benefits of a being a citizen of a wealthy state.
Here is an example; the government of Nigeria bans Crypto affinity with commercial banks making it difficult to trade Crypto through the traditional means, again it bans twitter twitter which for me is an information center and a finance hub for most people in Nigeria. Now these bans literarily affects the average and the rich gets to maintain their wealth, but then how is this?
First of all, let's take a look at Dangote, the richest man in Africa. He is not dependent on twitter to advertise his industry, he's already got patency from the government and the monopoly he enjoys makes him the supplier of some essential goods and services which means he doesn't need advertising on most traditional media to continue making his billions.
If you also look at crypto, Dangote deals in cash, he's not using crypto as a means to store wealth infact Nigeria being fully acceptant of crypto means, less people will work for him, people wouldn't be crazed about saving their wealth in fiat which means while he's controlling fiat other people will have some form of money as well, since Crypto isn't easily manipulated.
I use Dangote as an example because he's a modern day capitalist in liaison with the government as his interest maligns with most most economic policies made by the state itself. Now, should the government chose to ban Facebook and Instagram as well, how does this affect them? It affects private and cooperate business, including influencer in different commercial venture, but then how does it directly affect any rich entity?
Truth is, the Nigerian government isn't concerned about financial growth or innovative, some of their major source of income is oil and of course borrowing money from the Chinese. It the other sectors don't work, the government doesn't care about this because they're not accountable to anybody and the rule of law doesn't work.
The reason why these ban will continue is that it hardly affects them, although I doubt they'll extent the ban to Facebook and Instagram because service provider companies will suffer, it means people wouldn't spend money on internet facilities meaning these organisations will fold up, the downside is that these organisations are employing citizens and thereby providing jobs and revenue for qualified personnel.
The banking sector will suffer as they will lose customers and they will no longer have means to promote their business, since social media where there's presence is now defunct.
At the end of the day, the average citizen suffers, but then this is a well thought out game. The Nigerian government is trying to compare her government to that of the Chinese and they've forgotten that China is a communist state.
Truth is, Twitter and Facebook aren't directly paying millions into the pocket of the federal government and its become only a medium of information and commerce, so the ban of most social media wouldn't really affect wealthy people who are in liaison with the government. This is another way where the minority is trampled and there's nothing that can be done. Once again aligning and confirming that the the gap between the rich and average with the poor will keep increasing.
All Images Via Bitmoji
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My name is @Josediccus, a young Nigerian student who is a Vlogger, A Psychologist, Poet And Sports Writer/Analyst. I'm using my contents as a process to create shared meaning as well as create expressions through which people on/off hive can relate. I believe content is a process to be enjoyed and relished and I'm up for any collaborations in my field stated above. Cheers
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