As a Nigerian living in Nigeria, Cash is still very much the king. I could even add that Cash is the emperor 
We pay for 90% of things with cash. Even after my country launched their own CBDCs almost no one uses it. Unfortunately because of how disorganized the country is, citizens have to buy their own currency from cash merchants.
We pay for 90% of things with cash. Even after my country launched their own CBDCs almost no one uses it. Unfortunately because of how disorganized the country is, citizens have to buy their own currency from cash merchants.You sure are lucky. There aren't many places using cash as payment method. The vast majority of the world's countries have gone digital. With Apple Pay, Samsung Pay, Google Pay, and whatnot, who'd want to use cash other than the elderly? Young people still using cash are only doing it because they want to achieve privacy. But that's a small few compared to the rest of the population. I hope cash never gets phased out. It the best thing we have (besides Monero) for privacy-oriented transactions. CBDCs will enable full-spectrum surveillance from the government. Your financial life will be literally controlled by it. Who knows what the future holds?
The main reason behind the use of cash by many Nigerians as opposed to digital transfers is because a lot of persons now see the selling of cash as business. I still remembered in the time of cash scarcity how difficult it was just to have access to cash and those who were privileged to where rather selling it with high profits and till date it's now turning to a norm especially now that the festive period is here.
As for the Nigerian CBDC, citizens don't interest themselves with it because they feel the system isn't transparent and therefore trust is lack in-between, and by estimation, not up to 15% of Nigerians have an idea that CBDC exists how much more making use of it.
As for the Nigerian CBDC, citizens don't interest themselves with it because they feel the system isn't transparent and therefore trust is lack in-between, and by estimation, not up to 15% of Nigerians have an idea that CBDC exists how much more making use of it.
Let's not forget that CBDCs will be a complete violation of a person's privacy. Governments and banks will be able to control your financial life like never before. With cash, it's harder for them to do so. Coins and paper money enable true privacy. They can also be used when there's lack of electricity or Internet access. Say no to CBDCs and yes to crypto and cash.
