Image Credit: Oyemike Princewill via Unsplash
From Naira to Crypto: Nigerians Turn to Bitcoin Amidst Currency Chaos (12 minute read)
Bitcoin has become a more attractive option for Nigerians seeking a safe haven for their finances. Nigeria is currently facing a cash crisis caused by the redesign of the naira notes, political instability, and economic conditions, resulting in high inflation and a cash shortage. The redesign of the naira notes has caused logistical issues, with shortages and long lines at ATMs, and the deadline for the old notes to remain legal tender has been extended. Nigeria now has three separate nairas in circulation, including the digital naira, and the eNaira, the country's CBDC which has seen dismal adoption rates.
Blockchain Meets WhatsApp: Zimbabwean Immigrants in South Africa Get a New Payment Platform (2 minute read)
Zimbabwean blockchain startup, Flex ID, and South African WhatsApp-based remittance platform, Uhuru Wallet, have announced a collaboration to launch an integrated digital identity and remittance platform targeting Zimbabwean immigrants residing in South Africa. The platform will address issues such as high sending fees, limited access to formal financial services, and identity verification problems. The integrated platform is expected to provide a seamless and secure remittance experience for Zimbabwean immigrants, and the collaboration is the first cross-chain collaboration, with Flex ID working on the Algorand blockchain and Uhuru Wallet built on the Stellar blockchain.
Want more Africa news?
•USDT is Extremely Popular in Emerging Markets like Africa – A Chat with Chief Technology Officer, Tether
•Chipper Cash Lays Off a Further 100 Employees (1/3 of Workforce) – Claims Crypto Department Still Operational
•Cardano’s Founding Entity, Emurgo, Signs an MoU with Nigeria’s Pan-Atlantic University to Co-Develop and Build Web3 Training Programs for Students
•The state of Cryptocurrency Adoption in Tunisia
•Zambia test cryptocurrency regulation using blockchain technology
|