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Nigeria Ranks Among Top 10 Countries on Global Crypto Adoption

By
Ojukwu Emmanuel
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0

A PwC-EMURGO Africa report 2023, revealed that Nigeria ranked among the top 10 countries in the world with the highest rate of crypto adoption, with 47 percent of the population owning or using digital currencies.

The report provided an expansive and insightful analysis of the emergent influence of blockchain and Web 3.0 technologies within Africa and the Middle East and North Africa, MENA, region.

Emurgo Africa and PwC, one of the leading global accounting firms, proudly unveil the highly anticipated State of Web3.0 Report. This groundbreaking publication showcases the exponential growth of the global blockchain industry. Investors are keen to fund blockchain startups and companies, having injected approximately USD 88.5 million in Kenya, Nigeria and South Africa in 2021. in Kenya, Nigeria and South Africa in 2021.

Web 3.0 technologies are experiencing exponential growth and expansion in Africa, with the potential to bring transformative change to various industries such as trade and industry, financial services and lending, supply chain management and logistics and healthcare provision and accessibility.

EMURGO stated that Nigeria’s position emphasized its role in propelling financial inclusion and nurturing innovation in the digital currency sector in West Africa.

In a statement disclosed in the report, the CEO of EMURGO Africa, Ahmed M. Amer, was quoted stating how Web 3.0 technologies are already redefining the African digital landscapes.

In his words, “Web 3.0 technologies are offering innovative solutions to long-standing challenges, empowering individuals and communities across continents. This report presents an in-depth exploration of the potential of these technologies to drive positive change.

“It highlights the importance of fostering a collaborative environment between stakeholders, policymakers, and regulators to unlock the full potential of Web3.0”.

Nigeria has continued to have a growing adoption rate of cryptocurrency, despite the federal government warnings regarding the use of cryptocurrencies in the country.

This saw the Central Bank of Nigeria (CBN) issue a circular in 2017, warning banks and other financial institutions against dealing with virtual currencies.

The circular explicitly banned banks and other financial institutions from using, holding, trading, or transacting virtual currencies in any capacity. For existing customers that are virtual currency exchanges, guidance was provided on how to approach such entities, including ensuring that effective AML/CTF controls are in place.

Several factors such as the devaluation of local currency, economic instability, and remittances, have spurred a growing demand for the adoption of cryptocurrencies as users seek to use it as a hedge against inflation, amongst others.

However, in 2021, Nigeria’s Securities and Exchange Commission SEC announced the launch of a regulatory framework for digital assets and the creation of a Digital Assets and Blockchain Office.

This indicated a shift towards a more favorable regulation for the crypto market in Nigeria. In addition, in 2022 the SEC released a set of new regulations guiding the issuance, exchange, and custody of digital assets in Nigeria.

Notably, Nigeria has also recorded a growing number of blockchain startups and organizations. The blockchain landscape in the country is evolving with more businesses and organizations, both in the private and public sphere, exploring the technology.

This has spurred the Central Bank of Nigeria (CBN), to draft the ‘Nigeria Payments Systems Vision 2025’, as it seeks to engage relevant stakeholders to utilize blockchain technology for the review and implementation of remittance solutions.

Also, Nigeria has seen a growing adoption of Non-fungible tokens (NFT), which are being used in various fields such as music, art, fashion, and real estate. Several trends pertaining to NFTs have emerged in the country, one such trend is the use of NFTs to sell digital artworks.

On the African continent, Blockchain and Crypto Assets are increasing in popularity across the continent. The adoption of blockchain technology is slow but progressive, while the cryptocurrency market is growing significantly.

According to Chainalysis, Africa’s cryptocurrency market grew by over 1200% between 2020 and 2021, with Kenya, Nigeria, South Africa, and Tanzania ranking in the global top 20 for crypto adoption.

The adoption of Blockchain by African countries is reported to be the fastest in the world. Overall, Web 3.0 technologies are demonstrating a rising uptake in the African continent.

Implications of Russia’s Civil Uncertainty on Stocks and Crypto

By
Paul Ugbede Godwin
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0

The recent events in Russia have shaken the world and raised many questions about the future of the country and its economy. The attempted coup by Yevgeny Prigozhin, the leader of the Wagner mercenary group, against President Vladimir Putin and his military leadership has plunged Russia into a state of uncertainty and instability.

Prigozhin, who accused the Russian army of attacking his forces in Ukraine, vowed to march on Moscow with his 50,000 fighters and seize power. He later backed down after talks with Belarusian President Alexander Lukashenko, but his actions have exposed the fragility of Putin’s regime and the discontent among some of his allies.

Russia is one of the largest economies in the world, with a GDP of $1.7 trillion in 2022. It is also a major exporter of oil and gas, which accounts for about 60% of its exports and 40% of its budget revenues. Therefore, any political turmoil in Russia could have significant impacts on the global energy markets and the stock prices of energy companies.

For example, after Prigozhin announced his rebellion on Friday, June 23, oil prices surged by more than 4%, reaching their highest level since October 2021. This was due to fears that Prigozhin’s forces could disrupt Russia’s oil production or exports, or that Putin could retaliate by cutting off supplies to Europe or other countries. Oil companies such as ExxonMobil, Chevron, BP, Shell, and Total saw their shares rise as well, as they benefit from higher oil prices.

However, not all stocks reacted positively to Russia’s civil uncertainty. Some sectors that depend on trade or investment with Russia could suffer from reduced demand or increased risks. For example, European automakers such as Volkswagen, BMW, Renault, and Peugeot saw their shares drop on Friday, as Russia is one of their largest markets. Similarly, technology companies such as Apple, Microsoft, Google, and Facebook could face challenges in accessing or operating in Russia, as the country has imposed strict regulations and restrictions on foreign tech firms in recent years.

Russia is also a major player in the crypto space, with an estimated 10% of global crypto users and miners based in the country. According to a report by Chainalysis, Russia ranked third in terms of crypto adoption in 2021, behind Vietnam and India. The country has a large and active community of crypto enthusiasts, developers, traders, and investors, who use crypto for various purposes such as remittances, savings, payments, speculation, or evasion of sanctions.

Therefore, any political instability in Russia could have significant impacts on the crypto market as well. On one hand, some crypto users could see crypto as a safe haven or a hedge against inflation or currency devaluation in times of crisis. This could increase the demand and price of crypto assets such as Bitcoin, Ethereum, or stablecoins. On the other hand, some crypto users could face increased risks or challenges in accessing or using crypto services in Russia. This could reduce the supply or liquidity of crypto assets or cause disruptions or delays in transactions or transfers.

For example, after Prigozhin announced his rebellion on Friday, Bitcoin prices spiked by more than 5%, reaching over $31,800 for the first time since May 2023. This was due to increased demand from Russian crypto users who sought to protect their wealth or move their funds out of the country amid uncertainty. However, some Russian crypto exchanges such as Binance and EXMO reported technical issues or delays in processing withdrawals or deposits on Friday and Saturday, as they faced increased traffic or pressure from regulators or banks.

Russia’s civil uncertainty has significant implications for the global markets, especially stocks and crypto. The situation is still evolving and unpredictable, so investors and traders should be cautious and vigilant about any changes or developments that could affect their portfolios or strategies. As always, it is important to do your own research and due diligence before making any financial decisions.

The Caged Beasts Ultimate Guide: Essential Reading For Investors

By
TI Partners
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0

Cryptocurrency can be perceived by many as a treacherous landscape. It pays to have a good guide.

Introducing the latest sensation in the realm of crypto, Caged Beasts (BEASTS). This comprehensive guide aims to expertly navigate you through its intricacies.

Unveiling Caged Beasts: What Is It All About?

Caged Beasts is a community-driven crypto that thrives on active participation and engagement.

The impending presale has ignited a fervent buzz among eager investors, who are poised to seize the opportunity of acquiring this new meme coin and unleash its potential for astronomical future returns.

But Caged Beasts doesn’t merely settle for success within the realm of meme coins. Its ambitions extend far beyond, as it sets its sights on making a resounding impact in the booming NFT market.

With whispers of potential to rival the established titans of cryptocurrency, such as Dogecoin and Shiba Inu, experts eagerly anticipate the monumental strides Caged Beasts might take.

Caged Beasts’ Referral System

Once you’ve crafted your unique and captivating referral code, it’s time to harness its potential and witness the rewards that lie ahead. Your unique code becomes the key to unlocking a world of opportunities. By using your code to purchase BEASTS tokens, you’ll be granted an astounding 20% share of the deposited amount, awarded in highly esteemed cryptocurrencies like ETH, BNB, or USDT. This seamless process ensures that simplicity and convenience are at the forefront.

With each successful referral using your code, an uninterrupted stream of crypto rewards effortlessly flows into your wallet, opening the gates to the boundless potential for extraordinary profits. Brace yourself for an exhilarating journey brimming with exciting prospects and untamed opportunities that lie within the captivating world of Caged Beasts.

Caged Beasts’ Vision for the Future: In Key Steps

Here is a breakdown of the key steps that will guide the Caged Beasts venture:

The Plot:

  • A vibrant presence on social channels like Telegram, Instagram, Twitter, Linktree, and Discord is established, cultivating an engaged and passionate community.
  • A dedicated website becomes the central hub, providing essential information and real-time updates to the growing audience.
  • A comprehensive Token Audit is conducted, prioritizing transparency and security.
  • Thorough KYC checks are completed, verifying the identities of participants to maintain a high standard of integrity.
  • Trust is fortified through the verification of liquidity locked wallets, safeguarding the entrusted funds.

The Pre-sale:

  • The website goes live, serving as a dynamic platform that encapsulates the essence of the project.
  • Social channels are launched, facilitating seamless communication and interaction with the community.
  • The credibility and authenticity of the project are reinforced through the verification of social channels.
  • Public Relations (PR) activities kick into high gear, generating excitement and anticipation through effective outreach.
  • Each stage of the journey is accompanied by the release of captivating and collectible NFTs, adding an exclusive touch to the adventure.
  • A vibrant community flourishes, fostering engagement, camaraderie, and shared passion.
  • Charitable donations are made at each stage, making a positive impact on organizations combating animal cruelty.
  • The seamless functionality of Caged Beast SWAP is enabled, providing participants with effortless token swapping capabilities.

The Release:

  • Listings on decentralized exchanges (DEX) and centralized exchanges (CEX) are secured, expanding accessibility and liquidity.
  • Rigorous final stage testing ensures a seamless and glitch-free experience for all users.
  • An unforgettable awareness event is meticulously prepared, generating buzz and anticipation for the project’s launch.
  • Tokens are released into the market, empowering participants to engage in exciting and transformative transactions.
  • High-impact advertisements go live, amplifying visibility and attracting new participants to join the thrilling adventure.
  • Additional liquidity is injected into the project, enhancing stability and market depth.
  • The grand finale arrives as the final set of captivating NFTs is released, offering unique and highly sought-after digital assets.
  • The project expands its reach by bridging to more blockchain networks, ensuring accessibility and inclusivity.
  • Further exchange listings are secured, broadening trading opportunities and elevating project exposure

Caged Beasts: Fostering Community

In a departure from traditional investment options, Caged Beasts places community-driven engagement at the forefront of its strategy.

Embracing a captivating twist, the project empowers users to generate their very own referral codes, unlocking a remarkable opportunity for both themselves and their invited investors to receive an additional 20% in tokens. This dynamic feature not only fuels active participation but also cultivates a vibrant community that ignites demand and lays the groundwork for potential price growth.

Through active involvement and compelling promotion, investors serve as catalysts for expansion, attracting a broader audience to the presale and amplifying the potential for significant returns.

By spreading the word and actively engaging with the project, investors become architects of its growth, creating an environment that paves the way for substantial profits and an undeniable sense of camaraderie.

 

For more information on Caged Beasts:

Website: https://cagedbeasts.com

Twitter: https://twitter.com/CAGED_BEASTS

Telegram: https://t.me/CAGEDBEASTS

The Battle for Perfection: DogeMiyagi, VeChain, and Chainlink

By
TI Partners
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0

Blockchain infrastructure is vital in determining a platform’s performance, safety, and usability in the rapidly evolving world of cryptocurrencies. This comparative article will analyze the blockchain infrastructure of three prominent players: DogeMiyagi (MIYAGI), VeChain (VET), and Chainlink (LINK).

By exploring their unique features and capabilities, we aim to provide educated insights to people looking for information about crypto. So, let’s dive in and uncover the similarities and differences that shape these blockchain infrastructures. 

DogeMiyagi: The Herculean

DogeMiyagi (MIYAGI), a brand-new meme token operating in cryptocurrencies, has quickly gained attention due to its unique approach and creative community engagement. Using the story of Mr. Miyagi from the movie ‘Karate Kid,’ the meme coin aims at bringing a community that is like-minded in its venture to make DogeMiyagi (MIYAGI) one of the most vital forces to be reckoned with.

Since DogeMiyagi (MIYAGI) runs on Ethereum (ETH), the scalability of the infrastructure, specifically its underlying blockchain technology, affects the network’s performance. High transaction volumes and congested blocks can lead to slower confirmation times and higher fees. The current version of Ethereum (1.0) might cause bottlenecks, but it’s rumored that the next version of Ethereum (2.0) will adopt new strategies to alleviate almost all the problems.

Being decentralized contributes more to its security. A higher number of independent nodes helps prevent single points of failure and makes it more difficult for malicious actors to manipulate the network. This also allows for more transparency, making it secure for multiple uses.

The usability of DogeMiyagi (MIYAGI) infrastructure heavily depends on the community and its dedication. By offering a referral program, they actively foster a collaborative platform with their community, incentivizing participation through a generous 10% commission. This approach encourages the inclusion of more individuals and amplifies their collective strength, expanding their community even further.

VeChain: The Strategist

VeChain (VET), an established player in the cryptocurrency industry, has gained recognition for its focus on supply chain management and traceability solutions. The blockchain infrastructure of VeChain (VET) is designed to provide transparent and verifiable data, revolutionizing logistics, agriculture, and luxury goods. With a robust technological foundation, VeChain (VET) offers a reliable platform for businesses leveraging blockchain technology.

VeChain’s blockchain infrastructure exhibits impressive performance capabilities. The platform employs a dual-token system that ensures scalability and smooth operation even during high transaction volumes. VeChain’s consensus mechanism enables fast transaction confirmations, making it suitable for real-time data tracking and verification applications.

Recognizing the importance of security, VeChain (VET) utilizes advanced cryptographic algorithms and incorporates various security measures into its blockchain infrastructure. The platform’s focus on supply chain management necessitates high data integrity and privacy. VeChain (VET) achieves this through secure protocols and intelligent contract auditing processes, ensuring the trustworthiness of the data recorded on its blockchain.

The platform offers user-friendly interfaces and tools that simplify the integration of blockchain technology into existing systems. VeChain’s comprehensive ecosystem also facilitates the development of decentralized applications, enabling businesses to harness the full potential of blockchain technology without extensive technical expertise.

Chainlink: The Goliath

Chainlink (LINK), often regarded as one of the best crypto coins in the market, stands out for its focus on decentralized Oracle networks. By bridging the gap between smart contracts and real-world data, Chainlink’s blockchain infrastructure enhances the capabilities of various blockchain platforms. With its emphasis on data accuracy and reliability, Chainlink (LINK) has emerged as a leading provider of decentralized Oracle solutions.

Chainlink’s (LINK) blockchain infrastructure is built to facilitate seamless connectivity between smart contracts and external data sources. Its decentralized oracle networks ensure secure and reliable data transmission, allowing smart contracts to interact with real-world events and information. The platform’s efficient data handling capabilities enable developers to create sophisticated decentralized applications that rely on external data inputs.

Given the critical role of oracles in providing accurate data to smart contracts, Chainlink (LINK) places paramount importance on security. The platform employs robust security measures to protect against data manipulation and unauthorized access. Chainlink’s (LINK) reputation system enhances safety by rewarding reliable oracles and deterring malicious actors from participating in the network.

Chainlink (LINK) strives to simplify the integration of smart contracts with external data, making it accessible to developers of all skill levels. The platform offers comprehensive documentation, developer tools, and extensive support to facilitate the seamless integration of Chainlink’s (LINK) Oracle networks. This focus on usability empowers developers to create innovative blockchain applications that leverage real-world data.

 

To learn more about DogeMiyagi:

Website: https://dogemiyagi.com

Twitter: https://twitter.com/_Dogemiyagi_

Telegram: https://t.me/dogemiyagi

Top Passive Income Ideas: Evaluating Apple Dividends, Liquidity Pools, And Caged Beasts Referral Scheme

By
TI Partners
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0

“Making money while you sleep” is an idiom commonly used to explain passive income. It suggests that passive income is a form of revenue that continues to flow in even when you are not actively working or putting in effort. From renting out your properties and investing in the stock market to depositing your money in a bank, today’s financial market offers various avenues for generating passive income. However, the returns on these investments may vary depending on your choice. Therefore, this article aims to guide you toward the realm of passive income by exploring three distinct methods – Apple stock dividends, Crypto Liquidity Pools, and Caged Beasts (BEASTS) referral scheme – that have the potential to generate a significant amount of passive income for you.

Is Apple Stock Worth Buying?

When it comes to earning passive income in the traditional financial system, the stock market reigns supreme as the most popular choice. Investing in the right stock has the potential to yield over a 100% return on your investment. Today, we will focus on the technology giant Apple Inc.

Originally established as a computer company in 1976, Apple has grown into a dominant player in the communication gadget industry. Its products have become status symbols, particularly among affluent individuals in developing nations. If Apple products are highly coveted, imagine the benefits of owning shares in Apple Inc. It provides an opportunity to earn substantial dividends based on your investment amount.

Dividends are the distribution of a company’s profits to its shareholders, which can be in the form of cash or additional stocks. In 2020, Apple paid $14.1 billion in dividends to its shareholders. By 2022, the dividend value slightly increased to $14.4 billion, accounting for 15.2% of the total net income. With steady growth in Apple’s dividend payout over the past few years, it has become a preferred option for investors seeking passive income in the traditional stock market. However, it’s important to note that the dividend ratio is subject to change based on the stock’s market value.

Can Crypto Liquidity Pools Explode Your Wallet With Cash?

Similar to the traditional financial system, the alternative financial system also offers numerous opportunities for earning passive income. Particularly, the decentralized financial system presents carefully designed opportunities to attract individuals who are entrenched in the traditional financial system toward the crypto market. One of the most advantageous opportunities in this regard is the crypto liquidity pool.

Liquidity plays a vital role in both the crypto and traditional finance sectors. While traditional finance relies on buyers and sellers to provide liquidity, decentralized finance relies on liquidity pools.

We can draw a parallel between crypto liquidity pools and banks in the traditional financial system. Liquidity pools allow holders of crypto tokens to deposit their tokens into a smart contract that provides liquidity to decentralized crypto exchanges. In return, liquidity providers are rewarded with liquidity provider (LP) tokens, which can be utilized across the DeFi system in various capacities. This aspect makes liquidity pools an attractive option for earning passive income within the DeFi space.

Boost Your Wealth With $BEASTS Token

In addition to liquidity pools, crypto enthusiasts have access to various other methods of earning passive income. One such groundbreaking method is the crypto referral scheme, which allows you to hit two mangoes with one stone. Caged Beasts, a new crypto project, offers this revolutionary method that enables you to grow your wallet alongside its formidable BEASTS.

The Caged Beasts’ referral scheme provides a 20% return to both the referrer and the referred individual. Through this scheme, members of the Caged Beasts community can generate their own referral code and share it with friends and family. As a result, they will receive a 20% commission based on the investment amount of the referred individuals. The rewards are instantly transferred to their wallet in the highly sought-after stablecoin, USDT. Since there is no limit to the number of people they can refer, community members can maximize their rewards by referring to as many individuals as possible. Furthermore, the referral scheme also offers an additional 20% in BEAST tokens to investors who utilize the referral code. It’s a win-win situation for everyone.

In conclusion, it’s important to note that the dividend ratio of Apple stock is subject to change based on market performance, and liquidity pools offer a comparable interest rate to traditional banks. However, Caged Beasts presents a unique opportunity for users to refer to numerous individuals and boost their wallets with USDT in recognition of their efforts in growing the ecosystem.

Caged Beasts

Website: https://cagedbeasts.com

Twitter: https://twitter.com/CAGED_BEASTS

Telegram: https://t.me/CAGEDBEASTS

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