Adoption of blockchain tech increases ease of doing business – Somehcrypto
By Abimbola Mohammed
Somehcrypto, Founder Felbeth and Ambassador of Binance Africa, has said that the acceptance of blockchain technology, including cryptocurrency, by governments, corporates and individuals as a means of transaction will enhance and accelerate ease of doing business in Nigeria. She also explained that blockchain tech is not a fraudulent tool as erroneously believed by many.
The crypto expert made this call during a just concluded workshop organized by SBI Media at Radisson Hotel, Ikeja GRA, Lagos.
According to her, even though people may not come out to discuss the advantages of using blockchain technology as a means of transaction, Nigeria is ranked the 5th most crypto-friendly country, globally.
“For global brands and businesses, you can see that adoption is easy because they are used to technology like Artificial Intelligence (AI), etc. But here in Nigeria and Africa, decentralization of crypto, NFTs, blockchain tech is not where it should be presently, because the regulators and government are not helping matters with the policy.
“The Nigeria government is also not contributing to the acceptance of crypto because they say they are concerned about the citizens. So, they don’t really understand the importance and are not really making efforts to understand it yet. If they accept it to an extent, it will fly.
“We in that sector are already creating awareness so that people can embrace the use of crypto. Many people don’t even know that Nigeria leads the blockchain industry in Africa, and we ranked the 5th crypto-friendly-country globally,” Somehcrypto said.
She added that some people may be surprised at the position Nigeria has taken in blockchain globally, because of government policy and the ban on crypto. People, businesses etc that make use of blockchain as a means of transaction will not publicly disclose it.
“So it’s not totally accepted, that’s why I like what SBI Media is doing with this workshop. If we keep preaching the crypto gospel and the advantages of using it then people will understand it well. Some people are scared; they don’t know what bitcoin means. They think it is paper money. Some people think it’s a facade, and others even say crypto is illuminati. So, it really is not well accepted here yet. I believe none of the people that attended this workshop will go out there and say crypto is a scam,” the crypto expert said.
On creating more awareness to aid quick acceptance, Somehcrypto said: “We are really trying in terms of awareness, the unbundling process is ongoing, we are showing people that it is not hard to use all these things. I believe when people start seeing that they don’t have to be geeks or even blockchain experts to use crypto, then they will accept it.”
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