Why Blockchain Adoption May Literally Fail In Nigeria, Africa.
Many cryptocurrency activities have been evolving around Nigeria. Many individuals seem to be reluctant to the new technology and means of exchange which can help reduce the rate of poverty in the country. Nigeria has a very big population that can put it through the Cryptocurrency Market towards a better live for her citizens. It’s time we look into opportunities that can help alleviate poverty rate in the country.
The country has over 197 million poplulation which is equivalent to 2.57 percent of the world’s population. With over 51.9% of the population residing in urban areas and the median age of the citizens at 17.9 years old. According to worldmeters.info. The population boots enough opportunity for the Cryptocurrency market and Blockchain Technology adoption. The median age sitting at 17.9 years old creates even more avenue for easier adoption and learning.
Issues that might have being slowing down the adoption and wide acceptance of Cryptocurrency and Blockchain Technology being the reduced number of proffessional developers and unlearned. The vast majority of the citizens are more into businesses and agriculture. The majority of the youth are more interested in industrial work, trading of goods and services and white collar jobs. Few of the citizens are internet wise and few are interested to learn and upgrade. They are more interested in using this internet technologies then developing with them. The entertainment sector is booming because that’s why 70 – 80 percent of the teenagers who comprise most of the country’s population are focusing. Many young artists exist in the country but we have very few developers, very few enthusiastic programmers in the country. The integration of the Blockchain Technology into the Entertainment Industry can go a long way for wide adoption and use case. The entertainment industry boosts of 40 – 50 percent of the teens area of focus for financial liberty.
Repairing of mobile phones, downloading of Apps from mobile stores and even getting to know how to update apps on smart phones has been an avenue of generating income for those who have the knowledge of doing it. Citizen seem to be more engrossed in industrial technologies rather than internet technologies.
Foremost means for Blockchain Adoption seem to be education of the citizens on benefits that abounds with internet technologies. Education of the citizens on how to develop application and how to program them. The universities in the country rarely teach these. Majority of the institutions teaching programming languages are private institutions. Those with this knowledge are mostly self made.
For Blockchain Technology Adoption to strive in Africa. Citizens has to be enlightened to know how to develop this application because we can solve our problems far better than foreigners. But most of the times we end up selling these initiatives and end up buying them back.