Nigeria is a country in the Third World, so many people are surprised by the result.
A recent survey by the private blockchain software company ConsenSys and YouGov showed that Nigeria has the most people who know about cryptocurrencies.
The study surveyed more than 15,158 people in 15 countries and found that 92% of the world’s population knows what cryptocurrencies are, including 99% of Nigerian responders.
Crypto experts from the West African country of Nigeria say it’s a myth that Nigeria isn’t technologically advanced. They said that the country had seen a massive rise in people exploring the digital economy, a trend that both young and older adults embrace.
Adiele Great, a fan of cryptocurrencies, said he lost a freelance job because it was hard for him to get paid from outside Nigeria. However, thanks to blockchain technology, he can now “collect payment easily and instantly.”
In May, Nigeria’s federal government accepted the implementation of its National Blockchain Policy. This policy is meant to help the country develop rules about using the technology.
Chukwuemeka Gerald, a blockchain expert, said that if the policy is done right, it will help the Nigerian economy.
“The government has a huge role to play,” Chukwuemeka said, explaining that the government of West Africa has been looking at the successes of the government of the United Arab Emirates in the cryptocurrency sector.
“If you know about places like the United Arab Emirates, you’ll know that they tax crypto and Web3 companies and give them good rules and a level playing field so they can come in and set up shop,” he said, adding that it can be a “win-win” for both the government and the operators.
