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[Flower]

The Nigerian government is set to launch its own digital currency. This became pertinent when some of the countries in the world are keying into the central bank digital currency "CBDC" projects. The Chinese is the leading country CBDC project as it recently planned to integrate the smart contract in its digital yuan known as e-CNY.

However, a reliable source said that statement was issued by the central bank of Nigeria. However, critics have started reacting to the proposed project pointing out that the blockchain technology employed in the creation of the CBDC is far more than the technological status of Nigeria.

 

[LutherKing]

Well thats what yoh get when the believe is so string people dont actuallt want to loose their money and I'm in it with the people government always scams people

 

[a_jerobon]

I have read alot about this and it is such a great development. I am so glad that countries are becoming more comfortable with developing their CBDCs. This will be very beneficial to the Nigerians.

 

[Mikesax]

I hope that it will come to the lime light because that's how they use to say until when they will comes up with another policy that will destroyed things.

 

[Flower]

Well It Actually Is But You Have To Sometimes Take Seriously As They Are Trying To Implement Little Things Which Are Missing To Be Honest In My Opinion.

They would quickly implement policies or project that would make their pocket grow fat. This is the way of Nigerian government, we all know this.

 

[btaliat]

This is the 3rd thread that I had read about a country that will have their own digital currency. The Philippines also has plans of the digital currency in a way to prevent the spread of the covid virus. Digital currency is like cash but there it is not in the physical form.

I think the issue is now tending ever since China made its plan to introduce digital currency. However, of all the countries that have shown interest in creating digital currency, the Philippines is the only country that wants to adopt it to curtail the spread of Covid, others have been creating it to break the dominance of crypto. Nigeria is one of the countries that introduced it to stop the hype on crypto but it is unfortunate that the project is a total failure as citizens don't even embrace it.

 

[Flower]

I think the issue is now tending ever since China made its plan to introduce digital currency. However, of all the countries that have shown interest in creating digital currency, the Philippines is the only country that wants to adopt it to curtail the spread of Covid, others have been creating it to break the dominance of crypto. Nigeria is one of the countries that introduced it to stop the hype on crypto but it is unfortunate that the project is a total failure as citizens don't even embrace it.

Initially, I thought of adding the e-naira services to one of my offline business, but when I go through their requirements, I quickly dropped the ambition with immediate effect. Nothing works in the country called Nigeria because any policies made would be manipulated to favour the elite.

 

[Dav1d]

What's the latest update on this project by the way? Am guessing it's a failed project. I was thinking they where trying to create their own stable coin that was before I made some research to find out more about it. They said they would launch it on the first, but they later changed the date that they had some issue about fraud or something. I heard the app was also removed form playstore due to bad reviews. What's the latest on this?

 

[dorcasy]

this can be accounted for hypocrisy, imagine a government that fights tooth and nail just to see the end of cryptocurrency and it's operation in its country is at the verge of creating their own coins, this will definitely raise a negative feed back from its citizens because they will definitely revolt by giving bad reviews.

 

[btaliat]

Initially, I thought of adding the e-naira services to one of my offline business, but when I go through their requirements, I quickly dropped the ambition with immediate effect. Nothing works in the country called Nigeria because any policies made would be manipulated to favour the elite.

I haven't thought of using the platform because right from the beginning, I know it won't be a successful project. It was hacked nearly a week after its launch. And it works just like the other third party wallets are working, nothing special about it. I am beginning the government has to be forcing people before their would be any significant number of people using it.