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3 Jul, 2023 17:34

African nation is world’s most crypto-savvy – study

Many are surprised at the result due to Nigeria’s status as a Third World nation, digital currency analysts told RT
African nation is world’s most crypto-savvy – study

Nigeria is leading the pack in terms of cryptocurrency awareness, a recent survey conducted by the private blockchain software company ConsenSys and YouGov has found.

The study, which polled more than 15,158 people in 15 countries, showed that 92% of the world’s population are aware of cryptocurrencies, with some 99% of Nigerian respondents demonstrating awareness of crypto.

Speaking to RT, crypto experts from the West African nation highlighted the misconception that Nigeria lacks technological prowess, saying the country has seen a remarkable increase in the exploration of the digital economy, a trend that is being embraced by both young and old people.

Crypto enthusiast Adiele Great said he lost a freelance job due to difficulties receiving payments from outside Nigeria, but the blockchain technology now lets him “collect payment easily and instantly.

In May, Nigeria’s federal government approved the implementation of its National Blockchain Policy to assist the country in developing a regulatory framework to govern the technology’s adoption.

Blockchain expert Chukwuemeka Gerald said that, if it’s properly implemented, the policy will benefit the Nigerian economy.

The government actually has a huge role to play,” Chukwuemeka said, explaining that the West African nation has been studying the cryptocurrency sector successes of the United Arab Emirates government.

If you understand the likes of the United Arab Emirates, these guys are actually taxing crypto companies and Web3 companies and giving them good regulations and also a level playing ground for them to come in and establish their business,” he stated, adding that it can be a “win-win” situation for both government and operators.