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Bitcoin Price Surges During a War on Cash in #Nigeria
The Nigerian government together with the central bank have been trying to push the adoption of the digital naira, the country’s central bank digital currency, for a couple of months now.
The Nigerian government together with the central bank have been trying to push the adoption of the digital naira, the country’s central bank digital currency, for a couple of months now.
As I learned, during the @AfroBitcoinOrg conference in Ghana in December 2022, the digital naira has not been very well received by the population, for different reasons like
privacy concerns, mistrust in the government and mostly because millions of people are unbanked and depend on cash.
The actions by the CBN in its cashless society campaign are getting harsher.
The actions by the CBN in its cashless society campaign are getting harsher.
Thrilled to be on the op-ed page of the @FT! word limit was very tight (my 714 cut down to 615) so here follow a few explainers, expansions, further thoughts... 1/x
I was asked to write about mini-BOTS and assignats. Some would say they're complete opposites: assignats "backed" by land, #miniBOTs by nothing. But what gives money value isn't what's "behind" it but what's ahead--who will take it, for what 2/x
If #MiniBots are introduced, they will be circulate as a quasi-currency in parallel w euros. The anti-EU League Party is making vague #MMT anti #Austerity noises, but DO NOT BE FOOLED. A "parallel" voluntary money will not be good for ordinary people 3/x
