Founder of Africa-Focused Media Firm Urges Continent’s Governments to Embrace Crypto

The founding father of Africa-focused media and funding firm Footprint to Africa, Osita Oparaugo, has urged governments on the continent to embrace cryptocurrency.

Africa Must Not Be Left Behind

Osita Oparaugo, founding father of Footprint to Africa, has argued {that a} well timed embrace of cryptocurrencies by African governments could be useful to the continent’s development prospects. In his remarks published by the Vanguard, Oparaugo, who was co-host of a Decentralized Finance (defi) occasion in Nigeria, recommended that African nations can not afford to lag behind on the subject of crypto.

After noting the affect of cryptocurrencies and blockchain on world finance, Oparaugo defined why African governments should get on board rapidly. He mentioned:

Cryptocurrency and digital cash will finally unite the world and the sooner African governments embrace it, the higher for the continent’s development. Africa can’t afford to play catch-up on blockchain know-how; it’s the long run.

To again up his prediction about the way forward for finance, Oparaugo used Twitter’s latest announcement that it’s going to allow customers to tip one another in bitcoin for instance. The Footprint to Africa founder additionally made reference to feedback made previously by U.S. billionaire Mark Cuban. In these feedback, Cuban expressed his perception that defi would pose a problem to conventional banks.

Despite the advocacy and pleas by crypto-supporting people like Oparaugo, African governments proceed to shun cryptocurrencies. The few nations which have embraced blockchain have as a substitute chosen to create central financial institution digital currencies.

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