Nigeria Based Storage Provider Says It’s Too Risky for the World to Rely Cent...
In the past year, internet giants like Amazon and Google all experienced outages which were blamed on errors and failed upgrades. The occurrence of such outages and their impact around the world again highlighted the importance of having a decentralized internet. Also, just like how the Covid-19 pandemic showed the world that blockchain-based digital currencies are the future, the outages suffered by the powerful internet companies may have given an impetus to those that champion the Web3.0. However, this Web3.0 can really take off if players in this ecosystem play....
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The governor of the Central Bank of Nigeria (CBN) has insisted the recently introduced e-naira digital currency can potentially boost trade and investment activities in the country. He added the digital currency “would be necessary in the future to ensure Nigeria is competitive as the world becomes increasingly digital.” CBDC Gateway to Digital Economy The Nigerian central bank governor, Godwin Emefiele, has said the recently introduced digital currency, the e-naira, ensures Nigeria will remain competitive in a world that has gone digital. Specifically, the introduction of....
50 Cent announced today that he will sell his new album Animal Ambition for bitcoin through BitPay. As 50 Cent will not be the only artist interested in providing bitcoin as a payment option, BitPay makes it easy for artists to accept bitcoin. 50 Cent is using a Shopify store to sell his latest album and can, through BitPay's partnership with Shopify, accept payment in bitcoin. There could not be a better combination of innovation in music and payment. We look forward to seeing which other musicians follow suite. With 50 Cent as the first large independent artist to accept bitcoin as a....
The bad news is how companies looking into this business model will need to convince the Central Bank of Nigeria about their intentions. Money transfer services are prone to disruption by new technologies. Many people feel Bitcoin, and other cryptocurrencies are a legitimate threat to remittance services. But in Nigeria, MoneyGram will continue its operations, as they are officially recognised as a trusted money transfer provider. This news comes on the heels of various remittance platform shaving their licenses revoked two weeks ago. It will not be easy to venture into the money transfer....
One problem with digital currency and Bitcoin in the modern world is its inherent connection to the internet. Using internet access as a backbone isn't a weakness; rather, the issue is with the world not having a fully-integrated internet system set in place. Some places like the United States and Europe are incredibly close to the internet being as common as electricity, but underdeveloped regions still have problems. According to the Internet Transmissions Union (ITU), by December 2014, sixty percent of the world's total population still won't be connected to the internet; exiling around....
With bitcoin price increasing at a rapid rate and investors rushing in to purchase the digital currency, Jonas Schnelli, a Bitcoin Core developer and co-founder of minimalist bitcoin hardware wallet Digital Bitbox, cautioned users to rely on proper bitcoin storage methods. One basic practice which bitcoin users must always implement is preventing the usage of custodial wallet platforms. That means users should avoid using bitcoin wallet platforms or exchanges which allow third party service providers to hold user funds and bitcoin for the user. If users store bitcoin in a trusted....