Post
Topic
Board Nigeria (Naija)
Re: How can crypto impact agricultural financing?
by
Abu-Naim
on 23/08/2024, 20:05:06 UTC
Nigeria is among the best country with fertile land that grow almost all type of crops which if some advance countries will have, they will have used it for the development of their country's economy, which will actually yield a very high GDP and it will help the country to eliminate or reduce poverty as well as unemployment, but in Nigeria, the case is different due to bad governance and corruption.

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?
In country like Nigeria, I don't see any means of such support and sponsorship through cryptocurrency to farming and agriculture in general because the Nigerian government is yet to legalize cryptocurrency as a legal tender in the country, therefore, I don't think there is any means of help from cryptocurrency to curb insecurity in the country.