Africa’s got a burning desire to jump on the blockchain train, but there’s a big old elephant in the room: poverty. GT Igwe Chrisent, the main man behind SumoTrust and Truzact, firmly believes that before Africa can fully embrace blockchain, it’s gotta tackle that ever-nagging issue of hunger and poverty.
While hanging out at the SIBAN Digital Bash 2023 in Nigeria’s bustling capital, Abuja, Chrisent laid it out straight: We’ve got to fill bellies before we even dream of blockchain wonders. According to the World Bank’s catchy report, “Nigeria’s Future: From Pennies to Pounds 2022”, only a mere 17% of Nigerians are making the big bucks – the kind that pulls folks out of the poverty pit.
You see, in Chrisent’s eyes, it’s like this: move folks from scraping by to living comfy in the middle class, and voila! You’ve got a crowd ready to dive into the blockchain pool. Why? ‘Cause they’ve got full tummies and a bit of cash to spare. But let’s not beat around the bush. As Chrisent candidly put it, the rocky road of Africa’s economy needs a serious makeover. Without that? Well, we’re just stuck in a never-ending chat loop about “what ifs.”
Now, don’t get it twisted. Even with these challenges, Nigeria’s been making some serious waves in the crypto world. Heck, they’re practically obsessed with Bitcoin and its pals. Google even spilled the beans: Nigeria’s sitting pretty as the second most curious cat about Bitcoin, just trailing behind El Salvador.
And guess what? Bola Tinubu, the big cheese of Nigeria, threw out a manifesto promising the moon and stars. If he delivers, Nigeria’s banks might soon be playing with blockchain toys and cryptos. Fingers crossed, right?
