Nigeria is leading blockchain adoption in Africa, with the government and private sector utilizing the technology for efficiency, security, and transparency. Domineum, a blockchain-as-a-service company, is playing a significant role in Nigeria's tech ecosystem and has signed a memorandum of understanding with the Nigerian government to develop a tech city ecosystem. The country's large market and government support have contributed to its success in blockchain adoption. However, Nigeria has also cracked down on digital currencies used for criminal activities, leading to the arrest of individuals involved in money laundering. Despite the crackdown, Nigeria remains optimistic about the future of blockchain and its potential to open up the African market.
- Content Editor ( coingeek.com )
- 2024-10-09
Geoffrey Weli-Wosu: Blockchain drives Nigeria’s digitalization