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05 March 2021

Nigerian Crypto Shut-Out Won’t Depress New Defi And Digital Asset Banking

Nigerian Crypto Shut-Out Won’t Depress New Defi And Digital Asset Banking


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Those with an inside view of the protests that eventually shuttered the SARS agency say that activists began using Bitcoin and cryptocurrencies when they were unable to utilize traditional banking channels?

Adebajo further points out that activists in the “EndSARS” political movement, pushing back against Nigerian police brutality, embraced crypto for want of traditional banking structures that would allow them to fundraise

The realization that defi and portable, immutable digital assets are imminent is one shared around the world, but it seems that officials in Nigeria are slow in coming to the table

Various digital assets including Bitcoin have their fans and their detractors – yes, the coins can be used for fraud, but they can also offer more transparency in banking, not less, and open up doors for the unbanked, while also providing a bigger pond for investors

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