Goodbye fiat, welcome Cryptocurrency
It is no news that paper money will fade, are you ready for it? It has seen different transitions from the use of cards with the hype to go cashless and now to crypto (digital money) as the disintegration (disruptive) technology seeks to solve the issues with middlemen and makes your transactions quicker and more effective.
The previous week, precisely February 6th, 2021, The Central Bank of Nigeria (CBN), the governing financial body in Nigeria, released an order to “ban all cryptocurrency transactions” in its financial eco-system thereby crippling its own legs from enhancing its economy with the current innovation.
The world at large has gone past the old ways of transacting and different financial bodies and nations have taken time to study and implement regulations like “Know your customer (KYC)” and other means to tap into the world of cryptocurrency.
Bitcoin surged higher as Elon Musk, the owner of SpaceX and CEO of Tesla recently announced his purchase of $1.5 Billion worth of cryptocurrency and also hinted to effect it as a form of payment method soon.
The next 10 years or less will see fiat currency giving way to cryptocurrency as China, the largest manufacturer and supplier of goods worldwide has launched its e-Yuan cryptocurrency.
The digital world is moving fast, if your business is not seen and tapping value from the digital space, consult a digital expert to begin your digital transformation to help your business attain the boost it requires.
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