BTC: CBN And NDIC Has Considered Cryptocurrency In Nigeria

Following the need to sustain the economy through advanced financial technology and economic revolution, the CBN and NDIC has consider the new and trending form of digital currency in which encryption techniques are used to regulate the generation of units of a currency and verify the transfer of funds that are decentralized from a central bank.

While some Developed countries and other developing countries have queued into the path of the digital currency, the Central Bank of Nigeria (CBN) has decided not to be left behind in the economic revolution.


Cryptocurrency which is a digital currency as well as an alternative currency is a digital asset from block chain technology designed to work as a medium of exchange using cryptography to secure  transactions and to control the creation of additional units of the currency.

Presently, Automated Teller Machines (ATM) for cryptocurrencies have  been launched in South Korea, Brazil, Germany, Canada, UK, and India to help in banking technology.

Prisca Agwu, one of the major investors in cryptocurrency in Nigeria said the technology is here to put an end to poverty, while boosting the different sectors of the economy.

He added that digital currency in Nigeria is the change we have been clamouring for. It will also end the frustrations encountered in financial transactions in Nigeria banks and boost the communication industry.
(www.latestandtrending.com)

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