Nigeria currently tops the list of African countries in terms of Bitcoin trading in Africa, the Convener of Bitcoin Africa conference, Farida Nabourema has said.
Nabourema stated this on the sideline of the maiden African Bitcoin conference scheduled to hold in Accra, Ghana between December 3 to 5.
She noted that the Bitcoin industry has in the past five years surpassed card transactions, with Africa topping the chart.
“Nigeria is actually among the top 10 countries having the highest Bitcoin adoption rate in the world globally. And in Africa, Nigeria is leading in numbers in terms of Bitcoin adoption, but what Nigeria is leading in its not just adoption is Bitcoin engineering as well.
“So, I will say Nigeria is really big because it has the vast, very vast amount of engineers and blockchain engineers working to develop solutions and they are working with companies across the globe, not just based in Nigeria.
“So at this point, Nigeria is literally the centre of Bitcoin development on the continent. Even one of the most important nations in the world.
“In Africa, and generally the adoption is also growing the African continent by the latest chimp analysis application because of 21.
“The continent has the fastest adoption rates in the world, which means that in a few years, literally, we are going to surpass all the continents such as America or Europe, or even Asia.
“So adoption is increasing a lot on the continents. And developers are also rising from many places on the continent, Nigeria, Cameroon, Cote d’Ivoire, Senegal, Kenya, South Africa, these are countries that are really leading in terms of developers,” she stated.
According to her, the Bitcoin industry which is the fastest growing industry on the planet is capped at $3 trillion.
“In less than five years, Bitcoin has surpassed the valuation of big companies like Visa and MasterCard combined.
“So this tells you that it is an area that brings massive investment. And there are companies that are willing to invest hundreds of millions of dollars in startups, in businesses that are building solutions on the Bitcoin Blockchain,” she said.