The beginning of the use of cryptocurrency and the blockchain , most country doesn't seems to buy into the idea of cryptocurrency, how ever after much confidence in the blockchain security a lot of country have begin to build on the Blockchain and accepting crypto currency. Nigeria is establishing a framework for widescale crypto adoption which would yield a possible outfit.

Africa’s largest economy has began to have a belief for their own acceptance as many traders now believe to have a major bases in the crypto currency.People seem to be shifting attention to the digital currency and how rapid it respond has it has proven to be a easy fast and convince way to move money from anywhere and even to conduct international transactions. As the federal government fiscal and monetary policy is not allowing Forex transaction for some aspect or class of goods. Crypto currency has become a basis for easier uses than expected.

The minister for finance in Nigeria is being said to be in a way forward discussion with the country’s securities regulator to develop a new framework for the acceptances, accessibility and official recognition of the blockchain and cryptocurrencies -- which would see a rapid changes in the adoption, uses and growth.

Business Day, a Nigerian market intelligence newspaper, published onTuesday that the Ministry of Finance is working with the Abuja-based Securities and Exchange Commission ( a body saddled with regulating , securities ) to “provide a regulatory environment for blockchain” and digital assets. The publication cites Ministry adviser Amstrong Takang speaking at an industry event in Lagos on Tuesday. The regulation in this context is still skeptical as Nigeria as always believed in government regulations in financial matter, as a base of mass adoption the decentralisation of the crypto may be a challenge in adopting but people in Nigeria are more optimistic to use crypto as medium of international exchange , purchases store of value and investment.

According to SEC Nigeria:

“The general objective of regulation is not to hinder technology or stifle innovation, but to create standards that encourage ethical practices that ultimately make for a fair and efficient market.”

The securities exchange commission is still skeptical about control and have a fair market , which means it wary about the decentralized market which has no central as it may be. However Nigeria are excited to have their investment in crypto currency has the inflation persist .

The #ENDSARS protest bring about some victimisation story of how the rogue police unit , harass young men whom they found with and crypto wallet since the government has not certify the use of crypto .

The Nigeria naira is facing a very week melt down as inflation is high and Nigeria fall into another recession in 5 years, more Nigeria are opting to shift their investment and funds from Nigeria to cryptocurrency, well as charges incurred in sending the present common bitcoin , Tron and Ethereum which are the common cryptocurrency presently in Nigeria I would be working on studying the bitcoin cash and sensitisation on how to invest, use and hodl the bitcoin cash as people seems not to note this.