A Financial Technology (Fintech) expert, Dr Yele Okeremi yesterday\u00a0 lauded the proposed Digital Currency by the Central Bank of Nigeria (CBN).
Okeremi told The Tide source in Lagos,\u00a0 that digital currency would encourage national progression.
He said\u00a0 the proposed digital currency would drive financial inclusiveness among the underserved.
According to the source, the Federal Government,\u00a0 through the CBN,\u00a0 proposed a digital currency (e-naira),\u00a0 to be launched on\u00a0 October 1.
Chief Executive Officer, Presice Financial System Okeremi, stressed\u00a0 the need for economic inclusiveness for financial inclusiveness to be achieved,\u00a0 to enhance the digital currency for national progression.
According to him, the challenge of the digital currency and financial inclusiveness is access to internet, availability and affordability of smart phones, especially at the rural areas.
\u201cIf internet facility and smart phones are made available and affordable,\u00a0 it will make the digital currency a reality.
\u201cIt does not mean that the work of the financial institutions will be taken away,\u2019\u2019 he said.
Okeremi said the only difference was\u00a0 that depositing of cash, would be minimal as people\u00a0 would be having\u00a0 the e-naira in their wallet.
The fintech expert also highlighted the difference between the digital currencies,\u00a0 saying\u00a0 all crypto currencies lay\u00a0 in the same technology of block chain but the difference was the issuer of the currency.
According to him, one can\u00a0choose to transact with the e-naira, that one knows the issuer or choose another currency with an unknown issuer.
He said\u00a0 it could be likened to buying shares from a known company or from an unknown company,\u00a0 it was\u00a0 a matter of choice.
The Tide source further reports that digital currency is any currency, money, or money-like asset,\u00a0that is primarily managed, stored or exchanged on digital computer systems, especially over the internet.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"
A Financial Technology (Fintech) expert, Dr Yele Okeremi yesterday\u00a0 lauded the proposed Digital Currency by the Central Bank of Nigeria (CBN).Okeremi told The Tide source in Lagos,\u00a0 that digital currency would encourage national progression.He said\u00a0 the proposed digital currency would drive financial inclusiveness among the underserved.According to the source, the Federal Government,\u00a0 through the CBN,\u00a0 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[67],"tags":[],"class_list":["post-274211","post","type-post","status-publish","format-standard","hentry","category-icttelecom"],"_links":{"self":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts\/274211","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=274211"}],"version-history":[{"count":0,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts\/274211\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=274211"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=274211"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=274211"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}