Blockchain may have prevented Nigeria’s naira shortage — Native consultants

Blockchain expertise might help clear up financial issues in Nigeria and all through the African continent, in keeping with a bunch of native blockchain consultants who cited Nigeria’s forex stream scarcity as a case examine.

On the Stakeholders in Blockchain Know-how Affiliation of Nigeria (SIBAN)’s Digital Property Summit 2023, held in Nigeria’s capital, Abuja, stakeholders mentioned the choice by the earlier authorities to print new naira notes — Nigeria’s fiat forex — and the nation’s latest efforts to extend central financial institution digital forex (CBDC) adoption, which each led to a scarcity within the stream of naira on the time.

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