Nigerian central bank deputy director: digital currency wave “can not be terminated”


nnA recent deputy director of the Nigerian Central Bank said at a meeting that the chain of chains and the wave of digital currencies could not be terminated. Other experts have also expressed a similar view, that is, regardless of whether the country supports this technology must face the problem. From the situation in Nigeria, the country for this new technology is still more cautious, but more interested, may achieve some development.n
nTranslated by: Inan
It is reported that the Nigerian Central Bank is more carefully observed block and digital currency.n
According to a report by the Guardian this week, Musa Jimoh, deputy director of the Nigerian Central Bank, recently spoke at a digital currency conference in Lagos, Nigeria’s largest city. At that time, Jimoh said the Nigerian central bank was preparing to write a white paper on the subject.n
The most noteworthy is that Jimoh describes the reasons for doing this research, pointing out that the central bank “can not stop the block chain technology and its derivatives produced by the wave.” This comment also takes into account monetary policy and banking regulation in other countries.n
Jimoh also pointed out in his speech that the nature of the technology – the user has access to the block link data, the private key – to create a “unrestricted and can not be confiscated” in the form of money.n
In addition, other participants had a positive attitude towards the progress of the technology in Nigeria. Other topics discussed by the conference include how block chains will achieve cross-border payments and investment risks associated with this emerging technology.n
Dr. David Isiawe, President of the Nigerian Information Security Association, also expressed the same view. He has said, “Whether or not we like this technology”, it is the country leaders must face the reality.n
This statement echoes the technology in Nigeria’s increasingly recognized status quo and the problems in mature markets. So far this year, Nigeria’s regulators (including the central bank) have twice warned against the technology.n

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