Post
Topic
Board Nigeria (Naija)
Re: How can crypto impact agricultural financing?
by
Hewlet
on 23/08/2024, 07:56:00 UTC
I always wonder how cryptocurrencies can be applied in community funding for Agricultural Financing and to curb insecurity in agriculture. Initiatives such as collective funding, rotating savings and credit associations as well as agricultural cooperatives?
you know say the problem of lack of support from the government on the agricultural sectors no be just say them de allocate the money to the sector but the process of receiving the money no de transparent. If na that one be the case, then, receiving the allocation through crypto when be say all transactions go de visible for the public to see for de reasonable. But this one, the corruption de too multi dimensional in such a way that we're not even sure that the allocation that's said to be going into the agricultural sector is actually going there and even if it goes to that sector, wetin those ministers de do na to still take out thier own percentage from the money then give small portion to few local farmers take pictures with them and give out a huge amount as what they've spent so far.

If like say na through crypto the transaction from the ministry of agriculture de go through, The ability to monitor transaction go lead to a high level of accountability and transparency in the ministry but you and I know say anything when go fit allow you monitor how the government de utilize public funds no go de allowed to survive for this our country. Even BIVAS when for help the electionary system to de transparent no fit work for our country because we de used to illegality and untransperent means of doing things.

The only way we fit use crypto support the agricultural sector na say if you de earn in crypto you fit decide to invest part of your money for the agricultural sector if you see a reasonable opportunity when fit fetch you good profit if not nothing seriously come out pass that one.