Founder of Africa-Focused Media Firm Urges Continent’s Governments to Embrace Crypto – Defi Bitcoin News

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The founder of Africa-focused media and funding firm 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} well timed embrace of cryptocurrencies by African governments can be useful to the continent’s development prospects. In his remarks published by the Vanguard, Oparaugo, who was co-host of a Decentralized Finance (defi) occasion in Nigeria, instructed that African international locations can not afford to lag behind when it comes to crypto.

After noting the influence of cryptocurrencies and blockchain on international finance, Oparaugo defined why African governments should get on board shortly. He mentioned:

Cryptocurrency and digital cash will finally unite the world and the sooner African governments embrace it, the higher for the continent’s development. Africa can’t afford to play catch-up on blockchain expertise; it’s the long run.

To again up his prediction in regards to the future of finance, Oparaugo used Twitter’s current announcement that it’ll allow customers to tip one another in bitcoin for instance. The Footprint to Africa founder additionally made reference to feedback made up to now by U.S. billionaire Mark Cuban. In these feedback, Cuban expressed his perception that defi would pose a problem to conventional banks.

Despite the advocacy and pleas by crypto-supporting people like Oparaugo, African governments proceed to shun cryptocurrencies. The few international locations which have embraced blockchain have as a substitute chosen to create central financial institution digital currencies.

Do you agree with Oparaugo’s prediction in regards to the future of finance? Tell us what you suppose within the feedback part under.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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