Despite the high level of blockchain and crypto awareness in Nigeria, the nation copes with hurdles related to public education in the crypto world. A recent panel discussion during the Stakeholders in Blockchain Technology Association of Nigeria’s Digital Assets Summit unraveled the underlying issues. Among the many challenges addressed, the language barrier emerged as a prominent obstacle.
As stated by the Chief Operating Officer of Bitkova Academy, Bello Usman Abdullahi, blockchain technology and its demotic complexity pose a significant issue in a linguistically diverse country like Nigeria, where over 500 languages are spoken. It’s remarkable to note that local blockchain hubs have initiated educational measures where blockchain technology introduction takes place in local Nigerian languages. Such strides signify the willingness to include every individual, especially the tech rookies, into the ambit of blockchain knowledge.
Striking a note of concern, Abdullahi emphasized the need to comprehend the true objective behind Satoshi Nakamoto’s blockchain technology. More so because the Central Bank of Nigeria’s stance towards blockchain and cryptocurrency, including severing ties with crypto exchange firms in 2021, has inadvertently steeped blockchain and crypto with adverse perceptions in public minds. Such state of affairs has seemingly slowed down the level of blockchain awareness in Nigeria that is otherwise touted for significant crypto interest.
The disconnection between local banks and cryptocurrency exchange firms is seen as a considerable dent on the otherwise robust crypto infrastructure of Nigeria. Is this act by the government and the Central Bank of Nigeria an intrusion into blockchain’s potential benefits, or is it a well-intentioned regulation designed to protect citizens from the underlying risks of digital currencies?
In conclusion, while Nigeria indeed grapples with the complexities of blockchain technology, made murkier by severance from local crypto-exchange firms, it is also rising to the challenge by implementing language-friendly education paradigms. It thus invokes a question worth pondering – Will Nigeria be able to remove the veil of apprehension hovering over blockchain technology and come to embrace the future of decentralized networks? Only time will tell.
Source: Cointelegraph
