At SIBAN's 2023 Summit, Chrisent, CEO of Sumotrust & Truzact, emphasized that conquering poverty in Africa is crucial before embracing blockchain tech fully. Economic stability is key. Despite this challenge, Nigeria shows strong interest in cryptocurrencies.
There has been a resounding call for Nigeria, and Africa in general, to incorporateinto its mainstream living. However, during a fireside chat involving stakeholders in the Nigerian blockchain community, it was noted that poverty has to be conquered first before blockchain technology can be properly incorporated into African society.
At the Stakeholders in Blockchain Technology Association of Nigeria ’s Digital Assets Summit 2023, held in Abuja, the nation’s capital, GT Igwe Chrisent, the CEO of Sumotrust & Truzact, an online savings and investment platform stated that hunger and poverty first need to be eradicated from Africa before a better level of blockchain technology incorporation can be achieved.
In Chrisent’s view, being able to erase the poor class in general and move them to the middle class would be the biggest driver of faster blockchain technology incorporation. This is to enable them to afford three square meals daily and have a little extra to save. However, the stability of the economy in Africa is key to establishing this.
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