Founder of Africa-Focused Media Firm Urges Continent"s Governments to Embrace Crypto
The founder of Africa-focused media and investment company Footprint to Africa, Osita Oparaugo, has urged governments on the continent to embrace cryptocurrency. Africa Must Not Be Left Behind
Osita Oparaugo, founder of Footprint to Africa, has argued that a timely embrace of cryptocurrencies by African governments would be beneficial to the continent’s growth prospects. In his remarks published by the Vanguard, Oparaugo, who was co-host of a Decentralized Finance (defi) event in Nigeria, suggested that African countries cannot afford to lag behind when it comes to crypto.
After noting the impact of cryptocurrencies and blockchain on global finance, Oparaugo explained why African governments must get on board quickly. He said: Cryptocurrency and digital money will eventually unite the world and the earlier African governments embrace it, the better for the continent’s growth. Africa can’t afford to play catch-up on blockchain technology; it’s the future.
To back up his prediction about the future of finance, Oparaugo used Twitter’s recent announcement that it will enable users to tip each other in bitcoin as an example. The Footprint to Africa founder also made reference to comments made in the past by U.S. billionaire Mark Cuban. In those comments, Cuban expressed his belief that defi would pose a challenge to traditional banks.
Despite the advocacy and pleas by crypto-supporting individuals like Oparaugo, African governments continue to shun cryptocurrencies. The few countries that have embraced blockchain have instead chosen to create central bank digital currencies. Tags in this story Blockchain, CBDC, Cryptocurrency, Decentralized finance (Defi), Digital Money, Footprint to Africa, Mark Cuban, Osita Oparaugo, twitter bitcoin tipping
Do you agree with Oparaugo’s prediction about the future of finance? Tell us what you think in the comments section below. NFT-Collateralizing South African Startup Raises $5 Million in Latest Seed Round DEFI | 4 days ago Games Coins, Defi Tokens, Metaverse Assets Rise Above Market Downturn With Double-Digit Gains DEFI | 6 days ago
Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleTrade Cere Network on FMFW․Io Next articleDeFi Yield Protocol Enables Buyback, Farming and Staking V2 on Binance Smart Chain Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItDCG Mining Subsidiary Foundry Launches Range of Services for 20 Crypto Staking Networks
Foundry, the Digital Currency Group (DCG) subsidiary and cryptocurrency mining and consulting firm from Rochester, New York announced the launch of a new platform on Wednesday called Foundry Staking. The company says the product currently supports 20 blockchain networks and ... read more.Hong Kong Company Onedegree to Offer Insurance for Cryptocurrencies The Metaverse Is the Next Big Investment Theme, According to Morgan Stanley Moonshot to $90K — After Bitcoin Upgrade Taproot Activates, Crypto Advocates Expect the Price to Rally Over 3 Million Customers Can Earn Bitcoin Points Dining at 500 Restaurants via Landry"s Rewards Program