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Wonders they say never end. The Nigerian government in some months past banned crypto currency trading and transactions in the country and also suspended accounts of exchangers. This move forced many to relocate to Ghana and from there began to service their Nigerian market. Nigeria at a point was only next to United States Of America in Crypto currency trading and transactions.
Thanks to Binance for her P2P platform. That has been helping Nigerians to buy pass every huddle intended to be faced towards account funding and withdrawal. The government only felt threatened with the youth mass movement and funding of it’s 'End Sars' protest sometimes in late 2020. This the government felt helpless and tried to weaken the youth by targeting their economic power and source.
Now, the same government had just released guidelines for her own digital currency (CBDC) to be formally lunched on October 2021. We are still not clear about their intentions and there are heavy suspicion in the air. The government has lost trust. The citizenry don’t trust their government and the government on the other hand is doing nothing to win her citizen over to trusting it.
Is the intended Nigerian E-naira a token or a coin? What value is this meant to create or add to the Nigerian naira? Why should investors consider it?
Token is use for adding value to a service, product or project. People find a way to attach value to a project they have created. If I have a system that solve a particular problem and then build the project on any particular blockchain, then the blockchain becomes a coin and the project I created using the blockchain smart contract is called token.
Any project built on Ethereum will have ETH as a sign to indicate where it is been hosted, TRX stand for the Tron blockchain. There is more than meet the eyes on this matter. I keep my fingers crossed.
