Nigeria tops the ranking in Bitcoin trading

From Okwe Obi, Abuja

The coordinator of the first Pan-African bitcoin conference, Farida Bemba Nabourema, rated Nigeria as the number one in bitcoin trading in Africa.

Nabourema, who spoke to reporters about the upcoming Bitcoin conference in Accra, Ghana, recently noted in Abuja that Africa has the highest adoption rate of Bitcoin trading in the world.

“Nigeria is actually in the top 10 countries with the highest Bitcoin adoption rate in the world globally. And in Africa, Nigeria is actually a leader in terms of Bitcoin adoption, but what Nigeria is leading not only in its adoption is Bitcoin engineering as well.

“The design of application solutions, the development of companies and startups on the Bitcoin protocol and on the crypto and blockchain protocol in general.

“So, I will say that Nigeria is really big because it has the vast, huge amount of blockchain engineers and engineers working to develop solutions and are working with companies all over the world, not just based in Nigeria.

“So at this point, Nigeria is literally the center of Bitcoin development on the continent. Also one of the most important nations in the world.

“In Africa, and in general, adoption is also growing on the African continent since the last question for chimpanzee analysis due to 21.

“The continent has the fastest adoption rates in the world, which means that in a few years, literally, we will overtake all continents like America or Europe, or even Asia.

“So adoption is increasing a lot on the continents. And developers are also growing from many parts of the continent, Nigeria, Cameroon, Ivory Coast, Senegal, Kenya, South Africa, these are countries that are truly leaders in terms of developers, “she said.

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Speaking at the Bitcoin conference scheduled for December, he said: “The conference has four tracks. The first is Bitcoin, financial development and financial independence, and the main goal of people adopting bitcoin is to increase their financial independence as a currency.

“But the one thing that bitcoin is not just a currency, Bitcoin is a currency. Both the technology and the currency are called the same thing.

“So, sometimes it can get confusing. But this conference also has a track on Bitcoin and lightning engineering and the engineering part is that we are talking about the various applications and solutions that can be built on the Bitcoin protocol.

“Whether it is in agriculture, where there is a land registry in the management of hospitality, health, transport; there are countless applications and services that are built on the Bitcoin protocol to solve many of the development problems we have.

“The third track is Bitcoin and human rights and it seems surprising, but today countless NGOs, especially donor organizations, the main ones are moving to the blockchain to administer their grants because it is more transparent and reduces the number of frauds and intermediaries.

“You have an institution that wants to send grants to 20 countries in Africa, and they have to send that money through other organizations and institutions and convert it into 20 different currencies and, in the process, they lose money, time and resources.

“But by switching to Bitcoin, and doing the process on the blockchain, they are making it transparent and in addition to that, they are reducing the fees associated with normal transactions etc.

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“So are governments like the Norwegian one that are already working to completely shift their aid developments to the Bitcoin Blockchain. So Bitcoin also helps the humanitarian sector.

“And then we finally have Bitcoin’s economic growth because it’s driving huge investments.

“Today, the Bitcoin industry is capped at $ 3 trillion and is the fastest growing industry on the planet.

“In less than five years, Bitcoin has surpassed the valuation of large companies like Visa and MasterCard combined.

“So this tells you it’s an area that brings huge investments. And there are companies that are willing to invest hundreds of millions of dollars in startups, in companies that are building solutions on the Bitcoin blockchain.

“We want this conference to also be an opportunity for people to learn about these investment opportunities and to also be able to share the innovations that are taking place on the continent so that the conference will bring together investors, startups, leaders, technicians, developers, activists, from various parts of the continent.

“We are expecting around 800 people, which is quite a large number. And the goal is to change the narrative around Bitcoin.

“Because when some people hear about Bitcoin, they just think about the gambling side where some people say, Oh, I buy $ 100 And then I wait two days and it gets to 110 and I sell it it’s just like a token.”

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