Why do I need to use a fiat currency when I have debit cards?

Cnach:

Guy u mean am? Delete person money?
We no go gree

If you hold eNaira it's like you are banking with the CBN, your money is at their mercy.

Cash or bank transfer only...no network for E-Naira.

Emmyjumy:
Pls what's the difference between e-payment and e-naira?
Abeg shed more light oo

Faster, more reliable transactions. It is using distributed ledger technology held by and between commercial banks.

DeusXmachina:

If you hold eNaira it's like you are banking with the CBN, your money is at their mercy.

Really. You don't even consider that your money is safer?.

This is total nonsense.
China that thought of it abandoned the idea.

Its cannot be a legal tender since you need e wallet and gsm network and electric power to transact it. So these are sufficient legal alibi not to accept the virtual currency as you do not naturalized in a virtual world.

If you have small change, go buy usd euro or even Kenyan shillings and keep. Cause once Rissian hackers smell this goose, they will find a way to compromise the block chain bu ha ha for sure. And Naira will sell for 1000 to 2000 per USD. That will be another achievement for Emiefele. First CBN governor in the world to devalue her currency by over 500% in 1 year.

We no go collect e nonsense

excellentj4teal:

Their is a wide gap between the two. enaira will help those freelancers earning in dollar to be able to change their money without the black market. It'll benefits lots of things in the country.

At what rate. u think e-wallet will give u aboki rate for your dollar.
no freelancer will collect dollar from overseas and change it for cbn rate on any nonsense e wallet
and if u think it will be easy to access official rate on e-wallet when purchasing the dollar, u must be joking.
There's no benefit, simple. Even china that started it has to forcefully downgrade Alipay and wechat payment system just to make the yuan e-wallet viable.
If it's that useful, most western countries would have adopted it.

Bro it's not for us

KaptainAfrika:
Cash or bank transfer only...no network for E-Naira.

And be hacked?

VULCAN:
It's fascinating how the govt apologists and the newly minted BMC monikers are here praising emefiele and the enaira....

....even though not one of them has been able to mention just ONE difference between the electronic payments we have been doing for years and this e-naira.

I'm not even asking for two differences like a wise fellow above me.

Just ONE

Pikin when get eye nah Christmas chicken e dey chop, may you live long and prosper.

chatinent:


One is a crypto-currency, and an e-wallet...signed by a country. It is running blockchain.

It is safer, going to be faster...and without those big surcharges. Ever thought about dollar to Naira black markets too?

I am a freelancer and I feel it is nice.

The latter is a business from a private man...and merely a transfer protocol.

I am waiting to check its features, and interface before concluding tho.


cc: NaijaNaWaa, unbitchable

If the e-naira is going to be on the blockchain, can the transactions be transparent like every other blockchains. Can one just go to the e-naira blockchain and look at transactions being processed or it's just restricted to the government. What are your thoughts?

nairabacks:


It's on a block chain.
Your transactions are viewable on a public or not ledger. Also you can be automatically taxed, fined at the push of a button.
And if you misbehave FG can order your money deleted.

I doubt the government would allow transactions to be visible to the public. I'm very sure this will be restricted to them.

Buzx:


If the e-naira is going to be on the blockchain, can the transactions be transparent like every other blockchains. Can one just go to the e-naira blockchain and look at transactions being processed or it's just restricted to the government. What are your thoughts?

CBN will never allow transparency. I even doubt that its building it on blockchain. CBN is high on bombast and low on delivery; and has a history of misappropriation of words to deceive the public

Buzx:


I doubt the government would allow transactions to be visible to the public. I'm very sure this will be restricted to them.

I feel so too..

SarkinYarki:
Emeiefele is a stack mumu sha .....what is the difference between this his e naira and the Epayments we are already using ....

you don’t a bank account or Bvn to use it

NaijaNaWaa:


CBN will never allow transparency. I even doubt that its building it on blockchain. CBN is high on bombast and low on delivery; and has a history of misappropriation of words to deceive the public

If that is so and it isn't a proper CBDC hosted on a blockchain, transparent and visible to the public, then I'm not interested! I'll use e-transfers and the likes. I don't see any difference.

Kastonkastroll:
Can somebody please tell me the difference between e-payment and normal bank transfer?

abi ooooooo

leofab:
you don’t a bank account or Bvn to use it

That one na lie .. Nigerian govt willl never allow anonymous money

My question is, how is the e-naira generated?

SarkinYarki:


That one na lie .. Nigerian govt willl never allow anonymous money

You can just onboard through the app. That's the KYC. It will probably require BVN tho. These days you don't even need to go to the bank to open an account.

matotoide:
My question is, how is the e-naira generated?

It is minted. Like they just click a button and a new e-naira would be created. They'll probably do this at intervals and control each minting so has not to flood the system and cause more inflation.

Looking forward to hacking it


No be Naija, glitches must abound

How many businesses have adopted blockchain themselves? How many govt parastatals have adopted blockchain? First, all govt parastatals should accept enaira payment by 1st october. We let the cart before the horse everytime. How many businesses even know blockchain? Most businesses will always want to understand the tech behind a solution before even adopting it.

excellentj4teal:

Their is a wide gap between the two. enaira will help those freelancers earning in dollar to be able to change their money without the black market. It'll benefits lots of things in the country.

...change their money without the black market...

Lol, at what exchange rate will they be changing it? If it'll still be at black market rate, then what's the difference, and if it'll be less Han black market rate, why will a reasonable person use e-naira when he/can can earn more if the change is made through black market?

You sef reason am na

how do you STOP FRAUD ?

E-Naira = E-$$$$

This government is confused inwardly and outwardly

SarkinYarki:
Emeiefele is a stack mumu sha .....what is the difference between this his e naira and the Epayments we are already using ....

lmao... and they paid foreigners for this oooo

Una sure say emefiele dey use e head so... Make them no SCAM us oo

SarkinYarki:
Emeiefele is a stack mumu sha .....what is the difference between this his e naira and the Epayments we are already using ....

Brotherly the matter weak me

What difference?. If I want to pay someone I will not do transaction

chatinent:


There is a difference bro.