GT Igwe Chrisent, CEO of SumoTrust and Truzact, emphasized that poverty must be addressed before blockchain technology can be fully integrated into daily life in Nigeria and Africa.
Speaking at the SIBAN Digital Assets Summit 2023, Chrisent highlighted that the stability of the African economy is crucial for facilitating the transition from poverty to the middle class, which he sees as a key driver for faster blockchain adoption.
While Nigeria has shown significant interest and activity in Bitcoin and other cryptocurrencies, Chrisent argued that individuals cannot focus on exploring technology while still struggling to provide basic amenities.
Nonetheless, current Nigerian President Bola Tinubu has released a manifesto that, if implemented, would enable the use of blockchain technology and cryptocurrencies in the banking and finance sector.
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