It seems that the Nigerian government refuses to face the truth. The people do not want the eNaira. The people have already chosen Bitcoin. Any resistance is useless and a waste of public money. Obviously, this is not what will stop these corrupt leaders!
I am not totally clued up on whats going on there, I get that they are trying to push the eNaira and getting very little adoption and then they're also saying some notes are no longer legal tender and funneling people to use a certain type of note instead?
And its just going really badly because well you can't just tell people this money is no longer money in a cash-heavy economy, I know India did it and it was also a shitshow for a while
The link for this post is using an archive for the article on Bloomberg's website. An archive has no paywall, no subscription requirement, and can be easier to read. The original article, on Bloomberg's website is:
It seems that the Nigerian government refuses to face the truth. The people do not want the eNaira. The people have already chosen Bitcoin. Any resistance is useless and a waste of public money. Obviously, this is not what will stop these corrupt leaders!
Nigeria has been among countries at the forefront of initiatives to establish and support blockchain-based digital versions of their hard currencies
Hard currencies?
A new partner [..] would help the central bank meet its long-term aspiration to control
That sums it up.
I am not totally clued up on whats going on there, I get that they are trying to push the eNaira and getting very little adoption and then they're also saying some notes are no longer legal tender and funneling people to use a certain type of note instead?
And its just going really badly because well you can't just tell people this money is no longer money in a cash-heavy economy, I know India did it and it was also a shitshow for a while
The link for this post is using an archive for the article on Bloomberg's website. An archive has no paywall, no subscription requirement, and can be easier to read. The original article, on Bloomberg's website is:
Nigeria Seeks Partners for Tech Revamp of Its eNaira Digital Currency
https://www.bloomberg.com/news/articles/2023-02-21/nigeria-seeks-new-tech-partners-to-revamp-enaira-central-bank-digital-currency
CoinDesk has an article, which references Bloomberg's article :
Nigeria's Central Bank in Talks With Blockchain Platform R3 for CBDC Revamp: Bloomberg
https://www.coindesk.com/policy/2023/02/21/nigerias-central-bank-in-talks-with-blockchain-platform-r3-for-cbdc-revamp-bloomberg