FarahAideed:


Na 1 E naira would have a different value and you will need to exchange more Naira to get one and as demand grows the values grow , but it should be an alternative to hedge on the naira outside USD

Beloved3:
Where are they planning to host the servers?

It would be a joke to host our digital currency on foreign servers.

And just in case they are planning to build data centres here in Nigeria for the project, I hope they know that is a huge electricity demand and it's as if Nigeria does not even produce enough electricity to power the whole of Lagos 24/7.

And hopefully they are not planning to run the data centres on generators because that would be dragging the country eons back. Everyone at this stage is looking towards Sustainability and cutting off green house gases.

Dear Naija, which way?

If only we could fix electricity, many things will start to fall in place gradually.

When we fix electricity, we monitor crime effectively with CCTV and drones.

We experience transformation of our educational sector - digital transformation.

We experience industrialization - companies will troop in, and the ABA boys and indigenous manufacturing gurus will rise

We crack down on corruption - everything becomes transparent and digital - every fraud will be traceable digitally except you go and bomb the data centres to erase data ( equivalent to how they burnt the NFF office and other offices just to destroy files).

Our economy improves, we rely less on petroleum, we see massive advancement etc.

lwisee:


A lot of people will do bro, people with clean money will surely do.

MAURI:


Thanks for this question, you can use all blockchain tech and fintech tech you like, but there still has to bean underlying value (in this case, the Nigerian Naira). Where the underlying fundamentals remain unstable, the level of volatility will still remain high.

Someone mentioned that this will act as a good hedge against USD, would you be kind to educate us on this?

So long the underlying remains Naira, which in unstable and volatile, I do not see why anyone would want to keep positions in this as against the USD or other stable currencies. Except the CBN intends to create electronic currency without backing, which will lead to higher inflation. Even if the CBN resorts to this, the E-Naira will be majorly used to buy foreign goods (since we are a highly net import country) flooding the market with the E-Naira which will result in drop in value.

Beloved3:
Where are they planning to host the servers?

It would be a joke to host our digital currency on foreign servers.

And just in case they are planning to build data centres here in Nigeria for the project, I hope they know that is a huge electricity demand and it's as if Nigeria does not even produce enough electricity to power the whole of Lagos 24/7.

And hopefully they are not planning to run the data centres on generators because that would be dragging the country eons back. Everyone at this stage is looking towards Sustainability and cutting off green house gases.

Dear Naija, which way?

If only we could fix electricity, many things will start to fall in place gradually.

When we fix electricity, we monitor crime effectively with CCTV and drones.

We experience transformation of our educational sector - digital transformation.

We experience industrialization - companies will troop in, and the ABA boys and indigenous manufacturing gurus will rise

We crack down on corruption - everything becomes transparent and digital - every fraud will be traceable digitally except you go and bomb the data centres to erase data ( equivalent to how they burnt the NFF office and other offices just to destroy files).

Our economy improves, we rely less on petroleum, we see massive advancement etc.

tempest01:
E sure me die say dem go hack this e naira

chloride6:


Nope...it's not...

Let me break it down for you...

There are currently only 2 TRUE forms of Naira...

1. The banknote in your pocket....
2. Current account balances of banks with the CBN (Banks have accounts with the CBN. That's how they transfer funds to one another and settle debts using RTGS).

Your bank account balance is not really the Naira as you don't have a direct link to the CBN. Unlike the Naira in your pocket which is directly issued by the CBN, your mobile app account is between you and your bank.

That's why you can't use your Zenith Bank app to withdraw from First Bank.

Now, the new digital currency is a direct link between you and the CBN....just like your Naira note...no third party involved..

The e-Naira is not a good idea in my opinion...

It will operate just like Blockchain account meaning payments will be final and irrevocable...

I could talk all day but...no time..

helpsomeone:
E-naira is a welcome development. The forces of demand and supply will surface. As people invest more in e-naira, physical naira will be in shortages because people will need more naira to exchange to e-naira. thereby, increase physical naira value.

rottennaija:


Though we may not like it, Naira has value. The driving force behind it is e-currency. That's the direction the world is at now. It will save a lot in printing and transportation of physical cash.

Healthquest:
I can help unwithdraw it.
I will collect 50k/10% anyone that's bigger

Mrquote:

Don't forget some people make money by transportation of money and printing it

rottennaija:


Advancement in technology deskill people.

Beloved3:
Where are they planning to host the servers?

It would be a joke to host our digital currency on foreign servers.

And just in case they are planning to build data centres here in Nigeria for the project, I hope they know that is a huge electricity demand and it's as if Nigeria does not even produce enough electricity to power the whole of Lagos 24/7.

And hopefully they are not planning to run the data centres on generators because that would be dragging the country eons back. Everyone at this stage is looking towards Sustainability and cutting off green house gases.

Dear Naija, which way?

If only we could fix electricity, many things will start to fall in place gradually.

When we fix electricity, we monitor crime effectively with CCTV and drones.

We experience transformation of our educational sector - digital transformation.

We experience industrialization - companies will troop in, and the ABA boys and indigenous manufacturing gurus will rise

We crack down on corruption - everything becomes transparent and digital - every fraud will be traceable digitally except you go and bomb the data centres to erase data ( equivalent to how they burnt the NFF office and other offices just to destroy files).

Our economy improves, we rely less on petroleum, we see massive advancement etc.

FarahAideed:


Na 1 E naira would have a different value and you will need to exchange more Naira to get one and as demand grows the values grow , but it should be an alternative to hedge on the naira outside USD

BarrSly:
To think I saw your FTC where you made mention of making a presentation to the Nigerian Mint and Print and I took you serious beats my imagination.

From all you’ve said thus far it shows you know nothing about digital money/blockchain operations.

The e-Naira is a stable coin 1 e-Naira = 1 fiat Naira even the CBN acknowledges this fact so stop deceiving people.

Mrquote:

I'm talking about Nigerian politicians do you think they will accept something that make them to stop making money I laugh

rottennaija:


Hmmm... They can't reject this.

pacespot:


Through the peer-to-peer right?

FarahAideed:
I actually did a presentation on this to the Nigerian Mint & Print last year , E naira driven on Block chain tech

Kokaine:

Can I make money out of it. What would you advice I do immediately its out

Beloved3:
Where are they planning to host the servers?

It would be a joke to host our digital currency on foreign servers.

And just in case they are planning to build data centres here in Nigeria for the project, I hope they know that is a huge electricity demand and it's as if Nigeria does not even produce enough electricity to power the whole of Lagos 24/7.

And hopefully they are not planning to run the data centres on generators because that would be dragging the country eons back. Everyone at this stage is looking towards Sustainability and cutting off green house gases.

Dear Naija, which way?

If only we could fix electricity, many things will start to fall in place gradually.

When we fix electricity, we monitor crime effectively with CCTV and drones.

We experience transformation of our educational sector - digital transformation.

We experience industrialization - companies will troop in, and the ABA boys and indigenous manufacturing gurus will rise

We crack down on corruption - everything becomes transparent and digital - every fraud will be traceable digitally except you go and bomb the data centres to erase data ( equivalent to how they burnt the NFF office and other offices just to destroy files).

Our economy improves, we rely less on petroleum, we see massive advancement etc.