Hipi:

It is not a cryptocurrency.

Your government is confused, the coin is built on blockchain technology, yet it’s not a Crypto. They’ve used that word because they stupidly Banned crypto. If it is built on blockchain technology, then it is a crypto, even though it is regulated.

hardasan:


If the e-naira wasn't designed to do any of these things, how then does the CBN hope the e-naira can help improve the value of the naira ?

The e-naira as it is a wallet with an infinite supply closed to foreigners and individuals without a BVN which makes it effectively naira in, naira out.

What then is the difference between it and a mobile banking app? Cus this is literally a mobile banking app owned by CBN and not a digital currency.

I would say the government hasn't done a good job about making the goal of the enaira clear. It's a central bank digital currency like every other CBDC out there. I know you know about the digital yan and other countries planning to launch their own digital currencies. (Not cryptocurrencies)

I haven't really researched about the uses of the enaira because I'm generally not interested in it.

And don't get your hopes high because it's not going to be listed on any exchange. What enaira users would be transferring to each other is just 'values and digits' stored on a permissioned blockchain and not cryptocurrencies.

thebosstrevor1:
E naira is just imitating the paper naira we have, it doesn't need investors to function.

It is not an asset or a cryto currency but an electronic version of naira.

what have you been doing with bank apps before now

E-Naira works through which Blockchain?

thebosstrevor1:


E naira works through the blockchain and it is 100% online. It also can be used for payment by Nigerians anywhere in the world, as long as they have e naira in their wallet they can send it to anyone that has the wallet, literally the e naira facilitates faster and cheaper transactions without the need to pay a gateway system that works with your bank app.

The bank apps is also electronic money, does not work in the blockchain, is mostly converted to paper fiat currency and transactions are limited, does not permit for international transactions between Nigerians except with the help of a third party. Its expensive for banks and also customers and mainly used for offline payments. Infact with the e naira, removes the need for a visa or Mastercard naira debit cards encouraged by the commercial banks.


E naira could eliminate payment gateway systems, or companies like opay and pos companies because it is a threat to their business.

Datedoboy:


Bro pls find out how Ghana strengthened their currency. The new cedis as we speak is more valuable than the Naira that is why Nigerians go there to set up shops. Ghana does not export more than what we export. I use to have this mindset that your economy must be strong but as I grew up I conducted a research and I discovered we were lied to. Naira was devalued for no just reason. What we experience that made us devalue the Naira, some countries that experienced same with lesser exports did not devalue their currency

Thank you for this submission. It is good to export but claiming the reason for the weak currency is because of massive importation is funny.
The problem we have is greed and weak structures of our fiscal policies.
There are some countries that are import dependent but they have strong currencies.
Take Seychelles for example,that country import virtually every thing but her currency is strong in such a way that,the American Embassy encourage their citizens to visit U.S.A.
Let us continue to decieve ourselves.

Buzx:


I would say the government hasn't done a good job about making the goal of the enaira clear.

What enaira users would be transferring to each other is just 'values and digits' stored on a permissioned blockchain and not cryptocurrencies.

Gbam... Case closed...

Kabongo1:


What purpose does it serve?

Very good question!!!

thebosstrevor1:


E naira is using Hyperledger Fabric blockchain

what are you saying bro? Abeg can it be mined? Of course No so this has defeated what so ever thing you're trying to pass across man.

sapientia:
Reno is as confused as Buhari

E-naira is not a cryptocurrency

Just a Paypal or cashapp meme



Stop spreading lies

It's a digital currency just like PayPal but government issued

Cryptocurrency is also a digital currency

But E-naira which is 200% bound to fail is not a cryptocurrency

CBN tells you it’s not a crypto and you dummy sticked to it, with screenshot from an institution that goes as far as indemnifying themselves from any loss, yet they’re the regulators. Listen Mr man, whatsoever is built on blockchain is Cryptic, regulations are different, so long as they admit it is built on the blockchain network, then it is a cryptocurrency. They simply cannot openly say it is a cryptocurrency because they’ve jumped faster than their shadow to Ban Crypto.

Pierocash:
that it runs on block chain doesn't make it crypto. And that it is digital doesn't make it crypto.

Can it be mined , is it Decentralized or centralized? Is it tracked and regulated? If the answer is yes ,then it is nowhere near been called a crypto.

It is issued by banks,and regulated by CBN .how is that crypto.

Can Bitcoin be tracked or controlled? The essence of crypto ,is to eliminate third party interference,it is a p2p currency. E-Naira is not so , banks can determine who owns it or not,you can be locked out of your money if u step on the power that be, it can be traced.

Can any crypto be traced?

Crypto is not all about Decentralization, FYI cryptocurrency is the easiest form of transaction for law enforcement to track. Because there is no payment in this world that cannot be traced back to you via the blockchain network. if the law enforcement really wants to do their Job. All they have to do is subpoena your wallet holder. And they will submit your info to them.

All Fintech companies in this world are guided by the AML Law. Including your current wallet holder. Read their privacy statement.

Decentralization about Crypto on the other hand is not giving a particular set of individuals leverage over the decisions of the coin like in banks. Cryptocurrency is not any sorts of secret transactions, this is where the CBN comes in with their regulated coin. They cannot control the movement of the coin as they cannot control exchange rate, but they can make decisions about the coin as unlike decentralized crypto.

Know the difference before you start spewing trash in public.

KaluwisxPRO:


CBN tells you it’s not a crypto and you dummy sticked to it, with screenshot from an institution that goes as far as indemnifying themselves from any loss, yet they’re the regulators. Listen Mr man, whatsoever is built on blockchain is Cryptic, regulations are different, so long as they admit it is built on the blockchain network, then it is a cryptocurrency. They simply cannot openly say it is a cryptocurrency because they’ve jumped faster than their shadow to Ban Crypto.

Cryptocurrency without a transaction fee that is minted batch by batch without trace of any blockhain address pegged and will always be pegged to the value of Naira

Well, what do I know

KaluwisxPRO:


Crypto is not all about Decentralization, FYI cryptocurrency is the easiest form of transaction for law enforcement to track. Because there is no payment in this world that cannot be traced back to you via the blockchain network. if the law enforcement really wants to do their Job. All they have to do is subpoena your wallet holder. And they will submit your info to them.

All Fintech companies in this world are guided by the AML Law. Including your current wallet holder. Read their privacy statement.

Decentralization about Crypto on the other hand is not giving a particular set of individuals leverage over the decisions of the coin like in banks. Cryptocurrency is not any sorts of secret transactions, this is where the CBN comes in with their regulated coin. They cannot control the movement of the coin as they cannot control exchange rate, but they can make decisions about the coin as unlike decentralized crypto.

Know the difference before you start spewing trash in public.

you are dumb.

Wallet addresses cannot be tracked ,stop spewing garbage.

If I send you my wallet address to send funds to me,how do you know which wallet the address came from if it blockchain wallet,coinbase, binance etc.

Stoop trying to sound coherent when you know nothing

Pierocash:
you are dumb.

Wallet addresses cannot be tracked ,stop spewing garbage.

If I send you my wallet address to send funds to me,how do you know which wallet the address came from if it blockchain wallet,coinbase, binance etc.

Stoop trying to sound coherent when you know nothing

You’re the dumb one to think Cryptocurrency is anonymous. They say decentralized, you bunch of jokers take it for anonymity. F000lish ldiottt.

Take it to the bank, your wallet address company has your KyC, if your transaction is flagged for fraud, that company holding your wallet can be subpoenaed for your registration info. Nigeria Law enforcement just don’t have the Tech yet. Fooools like you don’t have any idea why people pay top notch fees just to rinse their transaction via blockchain mixer.

Or how hackers are tracked after getting their ransom even after using a Mixer. Or you think blockchain mixers are in existence because Crypto is not decentralized enough. You kidsss are so dumb, you rather argue blindly than take corrections.

FYI the most anonymous Crypto right now is Monero, because of how hard it is to track its holding wallet. Even at that, it can still be tracked if there’s an issue.

How can I fund it. I want to be keeping my money there because of intruders and money borrowers... How do I fund it.

sapientia:


Cryptocurrency without a transaction fee that is minted batch by batch without trace of any blockhain address pegged and will always be pegged to the value of Naira

Well, what do I know

How tf is it hard to understand that a stable coin needs to be begged to an actual currency and will be defended? Just the same way the CBN is defending the Naira, that’s the same way they pegged it to the Naira and will defend it with their fraudulent pumping, by themselves. Still doesn’t stop it from being a centralized crypto, so long as it is settled on the blockchain network, it is Cryptic.

Before you argue like a blind mad, first check the meaning of crypto, then Cryptic, before adding currency to your argument, then come back to make a fool of yourself again.

XXXXTENTACION:
E-naira is juste a waste of recources...
they could have just print more naira notes...

are you a troll of what? What is hard to understand about the eNaira and paper Naira? They are both the same in every aspect save that one is physical and the other isn't.
And for you info, eNaira isn't a waste of resources. Rather printing of paper money is the waste of resources

thebosstrevor1:


You don't need to transfer any equivalent naira amount into it....it works just like your bank account.

People can transfer naira into your wallet. if you create a service, you can put the price in naira and give out your wallet address and people will pay into it.


Your e naira wallet is just like your bank account
Your wallet address is just like your bank account number.

This is what i guess will happen.

Every bank account holder in Nigeria will be assigned an e naira wallet that will be linked to your bank account. You can use anyone you are comfortable with

You can transfer cash from your bank account to your e naira wallet account, if you want physical naira, you can transfer from your e naira wallet to your bank account and cash it out through the atm.

The moment I heard the world "eNaira" I could already guess what it means.. I wonder why these people are too slow to understand. I'm sure some of them are deliberately being mischievous.

Perfectbeing:
are you a troll of what? What is hard to understand about the eNaira and paper Naira? They are both the same in every aspect save that one is physical and the other isn't.
And for you info, eNaira isn't a waste of resources. Rather printing of paper money is the waste of resources

What's the point of dishing out e-naira when we already have bank apps to make payment online...

XXXXTENTACION:
What's the point of dishing out e-naira when we already have bank apps to make payment online...

you would see the advantage in the near future