Image Credit: Benjamin Dada via Unsplash
Nigeria's Cash Crisis Triggers Chaos and Protests, Driving Adoption of Bitcoin and Cryptocurrencies (2 minute read, Spanish)
The shortage of cash in Nigeria has led to protests and chaos, with citizens restricted to daily withdrawals of a maximum of $45, and weekly limits on bank cash withdrawals. The measure was implemented to replace the dirty cash in circulation, tackle inflation, curb counterfeiting, and promote the use of Nigeria's central bank digital currency (CBDC), the e-naira. CBDC adoption remains limited, with less than 0.5% of Nigerians using it, meanwhile, Bitcoin and cryptocurrencies have become a popular alternative, with 35% of the Nigerian population between 18 and 60 reportedly owning cryptocurrencies or exchanging them.
RightfulShare and GoodDollar Launch Universal Basic Income Initiative Using Digital Currencies in South Africa (2 minute read)
RightfulShare, an independent initiative led by a former South African Member of Parliament, has partnered with GoodDollar to launch an unconditional universal basic income program in South Africa using digital currencies. The GoodDollar protocol generates, funds, and distributes global basic income via the GoodDollar token (G$) which operates within the emerging ecosystem of decentralized and open finance. Alongside the basic income transfer, beneficiaries will have access to mentoring and learning opportunities including business development and Web3 education.
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