It's no news that countries have started to think of the prospect of making Bitcoin a legal tender. I'm sure Our Nigeria as a nation have also been considering the pros and cons of such prospect. If, and when it comes to fruition, how does it affect our economy. Surely, we'll have a competitor and alternative for the unreliable nature of the naira, and a great alternative for the supposedly pushed proposition of the Enaira. Obviously, it would solve a lot of problems. Like the inflationary trends and a great store of value. The changes and effects could be limitless.
Bitcoin as a legal tender in Nigeria will help our economy in so many ways. One of the ways I know is in remittance because many people will begin to openly use Bitcoin to send money home from overseas and you know how much we are talking about here if you tally the number of people abroad and those that still want to japa. Apart from this, so many businesses will open up and people will begin to accept Bitcoin in large numbers. It will grow our local economy, create more jobs and attract so many tourist who are Bitcoin enthusiasts to our country.
It would be a step in the right direction for Nigeria if we finally get to that point, the world keeps evolving everyday technology wise and I think our country should also be involved in all the modern trends especially the good ones that would impact our economy positively, that been said, it is also important to note that not all Nigerians would agreed or embrace this idea due to their ignorance of this modern trend, if you check the entire population of Nigeria you might still notice quite a significant number of the citizens don't keep their money in the bank, citing one or two ugly experience as their reasons, so it would take quite a lot of convincing to get them to follow this trend if it is finally introduced here.