The Blockchain Technology Association of Nigeria (SiBAN) is urging the Nigerian government to adopt a national itcoin">Bitcoin strategy to keep up with global trends in cryptocurrency. SiBAN president Obinna Iwuno states that this could establish Nigeria as a dominant player in the digital economy.
Despite Nigeria’s status as Africa’s largest economy, the country has a low cryptocurrency adoption rate of just 5.93%, trailing behind Vietnam and the UAE. The SiBAN leader has pointed out the potential gains from integrating itcoin">Bitcoin into the country’s economy, such as launching itcoin">Bitcoin-backed financial products and providing a hedge against inflation.
The call to action aims to align Nigeria with countries like the US and Japan, where cryptocurrency has seen significant trading volumes and innovation. A national itcoin">Bitcoin strategy could pave the way for growth in local blockchain development and aid Nigerians in participating more fully in the digital currency landscape.
Nigeria Urged to Develop National Bitcoin Strategy for Digital Economy Leadership
