While Nigeria has a high level of blockchain and crypto awareness, the nation nonetheless faces points associated to public education within the area. Local specialists mentioned blockchain education’s challenges in Nigeria on the Stakeholders in Blockchain Technology Association of Nigeria (SIBAN)’s Digital Assets Summit 2023, held in Abuja, the nation’s capital.
In the panel titled Web3 Education: Capacity Building, the group mentioned the present degree of blockchain and Web3 consciousness within the nation and the challenges which have surfaced on the journey thus far.
Bello Usman Abdullahi, the chief working officer of the blockchain education platform Bitkova Academy, mentioned the language barrier is without doubt one of the present main challenges due to the complexity of blockchain know-how and its jargon. Nigeria is without doubt one of the most linguistically various international locations on the earth, with over 500 languages spoken.
However, native blockchain hubs have begun educating people unfamiliar with blockchain know-how utilizing native Nigerian languages. Abdullahi mentioned it is necessary to assist people new to blockchain know-how and Web3 perceive what Satoshi Nakamoto was attempting to obtain with the know-how. This is important to right the worry and negativity created within the minds of residents by the Central Bank of Nigeria (CBN) and the federal government, he mentioned.
Related: 99% of Nigerians are crypto aware — ConsenSys report
In February 2021, the CBN severed connections between local banks and cryptocurrency alternate corporations. According to Abdullahi, this act by the federal government and the CBN slowed the extent of blockchain consciousness in Nigeria, associating blockchain and crypto with antagonistic perceptions.
Nigeria has seen higher days by way of crypto curiosity, with Google Trends data displaying the nation dropped from the highest spot to No. 2 on the earth in search curiosity for Bitcoin (BTC).
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