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Blockchain Technology

Back to the Stone Age

Every single time you are filled with techno-optimism in Nigeria, there comes a government policy to put a lid on it.

In Nigeria, the prevailing rule is that whatever they cannot own or control, the government will seek to destroy.

Today, the government through the CBN struck another area of the economy by banning the purchase of cryptocurrencies using the banks.

To be honest, it was inevitable as cryptocurrencies where used in funding the EndSARS protests that held in the country last year.

This might slow down adoption of cryptocurrencies but it will not end them. They alternative is to go peer to peer the way it was always intended for cryptocurrencies.