₦airaland Forum

What happened to enaira?

I knew that nigerian banks would never allow that concept fly, you want to render them completely obsolete, pos operators are already rendering them obsolete bit by bit and they wouldn't even allow that trend continue, they will find a way to kill that enterprise, transactions volume for pos are outrageous right now, they are in trillions, banks wouldn't continue to allow pos operators to eat their lunch, I doubt that pos operators will survive the next 5 years

Enaira would have just ended them completely, if adopted properly, banks are going to eventually die off as a business model, it's the truth, they don't have a future, the need for physical bank is becoming less important day by day, fintech existence signifies add the emergence of blockchain technology and the number of economic crises that they have caused with their poor business practices, bitcoin isn't the one but the first country to fully adopt a digital currency that gets utilization numbers that are greater than 50% globally will own the future


Banks are yesterday's news, they are needless middlemen, Starbucks started a wallet, they currently have enough money in there to use as they like, for coffees that haven't even be ordered, that is peak business solvency, digital currency is the future, paper will get less relevant no matter how hard banks fight it, if cbn get sense, they will use nin and ussd to sell enaira, your nin can be your account number, with audio authentication for those that need it, free transactions, study the data make loans available to users based on their spending habits, provide a platform there to buy shares or invest in states and make a profit, the possibilities are endless abeg

you can also make it anonymous too, you can have a central account that is publicly known, and from there funds are dispatched to relevant accounts publicly in the same ledger, everything will be transparent, anonymous identification can be given to the account of users publicly, while each user will privately know their own account, can also have policies that limits government ability to impede transactions or usage for users unless there are legal grounds for such actions in a way that is fair to all parties, usage will explode.

Nah, this is hilarious.

Ibime taking all man as they come.

Real Portharcourt boy

Havertz10:
What happened to enaira?

I knew that nigerian banks would never allow that concept fly, you want to render them completely obsolete, pos operators are already rendering them obsolete bit by bit and they wouldn't even allow that trend continue, they will find a way to kill that enterprise, transactions volume for pos are outrageous right now, they are in trillions, banks wouldn't continue to allow pos operators to eat their lunch, I doubt that pos operators will survive the next 5 years

Enaira will have just ended them completely, banks are going to eventually die off as a business model, it's the truth, they don't have a future, particularly after the emergence of blockchain technology and the number of economic crises that they have caused with their poor business practices, bitcoin isn't the one but the first country to fully adopt a digital currency that gets utilization numbers that are greater than 50% globally will own the future


Banks are yesterday news, Starbucks started a wallet, they currently have enough money in there to use as they like, for coffees that haven't even be ordered, that is peak business solvency, digital currency is the future, paper will get less relevant no matter how hard banks fight it, if cbn get sense, they will use nin and ussd to sell enaira, your nin can be your account number, with audio authentication for those that need it, free transactions, study the data make loans available to users based on their spending habits, provide a platform there to buy shares or invest in states and make a profit, the possibilities are endless abeg

you can also make it anonymous too, you can have a central account that is publicly known, and from there funds are dispatched to relevant accounts publicly in the same ledger, everything will be transparent, anonymous identification can be given to the account of users publicly, while each user will privately know their own account, can also have policies that limits government ability to impede transactions or usage for users unless there are legal grounds for such actions in a way that is fair to all parties, usage will explode.

I don’t think u have a full grasp of how Nigerian banks make their money, hence why u made this assertion . Whatever is being earned by Pos operators as commission is just chicken change compared to what banks actually make from assets financing , giving out loans to corporate entity, etc.

Banks like citi bank , Stanchart don’t even do retail banking , they advance credit to corporate customers and make serious money .

I know a particular man who is into logistics/haulage anytime he wants to get new set of trucks he accesses credit facility from the bank which sometimes runs into billions @ double digit interest rate . The man uses the truck for haulage , pays back the loan within 3 to 4 years along with the interest after which the truck becomes his own 100%

Saying banks will die if Pos operators are not checked is laughable because whatever Pos operators make , just normal 1% account maintenance fee charged by banks will swallow it up. Banks do much more than just taking deposits and deducting bank charges per withdrawal alone.

As for enaira it makes absolute no sense , hence why it flopped. It makes no sense because it can’t be used as store of value like those other crypto’s that are dollar denominated. What’s the joy in having ur money in naira that has proven not to be a good store of value over time ?

popizaino:
It's day three and donstant18 is still yet to tell us why Rafa Benitez couldn't transform real Madrid since according to him, It was lack of money at Everton that made it impossible for him to transform the team.

Try dey drink alcohol dey clear your mind.

You too yarn okoto lately.

Ibime:
Can Messi press?

He can create

Ibime:
Your question is redundant.

If you are asking me who I preferred between Matic and Jogs, I preferred Matic.

If you are asking whether I prefer Mikel or Makelele, I prefer Makelele. They both played with Lampard in the midfield. So you see how foolish the question is.

If what you want to say is 1 UCL > 1,000 EPL titles just say it cos that's the only point I see in your post.

BTW, Matic only played one season with Kante and immediately delivered while Jogs playing with Kante will.leave you wondering every week whether you will make top4 for 3 years straight

They don’t know that football is a team sport, they are only interested in who scored and not how the ball was worked before it get to the scorer hence their blindness to see that with Jorg we can not compete in the league because midfield is like the brain in football, he kills quick progression to the attack by passing back and side way pass. Tuchel had to tell him this season to pass more forward whic he is a bit trying at so far. Man city is solid because of their strong midfield, for a reference, when last any team collect possession from them.

I love this selection against Brighton.

hensben:
I love this selection against Brighton.

Tuchel is actually scared of losing his job because of fallout with players.

hensben:
I love this selection against Brighton.

Your directionless lukaku start o.... .

donstan18:
Tuchel is actually scared of losing his job because of fallout with players.

I think that is a lie.


D only guy missing is Werner and definitely will come on later

donstan18:
Tuchel is actually scared of losing his job because of fallout with players.

Its normal to have fall out with players.

Lakaka

Segedinho:
I think that is a lie.


D guy missing is Werner and definitely will come on later

Lukaku and Mount I mean

Segedinho:
Your directionless lukaku start o.... .

What to do. He is still my player.

donstan18:
Try dey drink alcohol dey clear your mind.

You too yarn okoto lately.

No worry I go try weed.


But pls don't deflect answer my question.

BlueRayDick:
I don’t think u have a full grasp of how Nigerian banks make their money, hence why u made this assertion . Whatever is being earned by Pos operators as commission is just chicken change compared to what banks actually make from assets financing , giving out loans to corporate entity, etc.

Banks like citi bank , Stanchart don’t even do retail banking , they advance credit to corporate customers and make serious money .

I know a particular man who is into logistics/haulage anytime he wants to get new set of trucks he accesses credit facility from the bank which sometimes runs into billions @ double digit interest rate . The man uses the truck for haulage , pays back the loan within 3 to 4 years along with the interest after which the truck becomes his own 100%

Saying banks will die if Pos operators are not checked is laughable because whatever Pos operators make , just normal 1% account maintenance fee charged by banks will swallow it up. Banks do much more than just taking deposits and deducting bank charges per withdrawal alone.

As for enaira it makes absolute no sense , hence why it flopped. It makes no sense because it can’t be used as store of value like those other crypto’s that are dollar denominated. What’s the joy in having ur money in naira that has proven not to be a good store of value over time ?

it flopped because banks didn't promote it's utilization and it was a flawed product, they didn't plan it well, read my last 2 paragraphs, I suggested a system that would definitely work and for storing value that's where the investment side of it comes into play, you can only shares or investment vehicles, possibilities are endless honestly, you can build your portfolio to hedge you against the economy and inflation

Getting money to people that can make productive growth is where banks mess up, they think short them growth and chase ridiculous deals


the thing is, i'm not thinking about just Nigerian banks, i'm talking globally, recently after china showed what capitalism and socialism combined can do, it became obvious that their was a flaw that eats at capitalism and that's banks, banks globally only invest in ventures that provide quick returns for their investors without providing any actual productive growth for the economy, see the disconnect between
stock market and actual economy, it's a joke, they are money engineers and every service that bank provide can be eliminated and capitalism will still exist, fintech signify this, banks will eventually become obsolete, even the loans services they provide can also be replaced with more rational processes like the Chinese model

About pos, if trillions of transactions occur among pos operators, limiting the banks to only a handful of large transactions but the disparity in volumes is massive, if Mastercard can be making billions of net profit by being middlemen between banks and merchants, imagine how much is lost to pos operators yearly

Considering the fact that average withdrawal would be ~5000

And each cost 100~200 that's a cool 2.5%

They are also charging the customer more than the bank per transaction, if more people find such means convenient and a scheme like enaira is widely adopted, what's the point of a physical bank? I mean hedgefunds provide the same loan aka investment and some even take out insurance policies on such deals to hedge it, what exactly is a bank's role in the economy if its doing the job of a poor man's hedgefund by simply giving out loans




An unnecessary clog destined for obsolescence

hensben:
They don’t know that football is a team sport, they are only interested in who scored and not how the ball was worked before it get to the scorer hence their blindness to see that with Jorg we can not compete in the league because midfield is like the brain in football, he kills quick progression to the attack by passing back and side way pass. Tuchel had to tell him this season to pass more forward whic he is a bit trying at so far. Man city is solid because of their strong midfield, for a reference, when last any team collect possession from them.

Guardiola focuses on possession. If you give him this Chelsea team he would dominate possession as well, Give Mourinho that same Man City team and he wont dominate possession like Pep

Leeds also dominate possession is it because of their strong midfield?

hensben:
I love this selection against Brighton.

If the team no deliver now thats when agenda will start that see Jorgino, see Lukaku

donstan18:
Lukaku and Mount I mean

To me...

Mount deserve to start ahead of both pulisic and ziyech.

On laluku;definitely d grudge remains but since he(TT) came out openly to diminish or quench d outburst...

He is just playing along since obviously havertz isn't really too effective recently

Skimpledawg:
Nah, this is hilarious.

Ibime taking all man as they come.

Real Portharcourt boy

Be like e dey one vacation, the guy has time

Ibime:
It's your statement. I can pull up the stats, but I'll let you pull it and disprove yourself.

And I've dropped the numbers to show that.

If any defender is better than Rudiger, it's not Matip.

Havertz10 please explain why Havertz can't still get into this team. Is it because he doesn't score goals as a striker that he is and only supposedly "make us play better"?

BikeMan:
And I've dropped the numbers to show that.

If any defender is better than Rudiger, it's not Matip.

You haven't dropped the numbers to back your initial claim Ser. I can easily disprove it, but I'll let you do that yourself

Segedinho:
To me...

Mount deserve to start ahead of both pulisic and ziyech.

On laluku;definitely d grudge remains but since he(TT) came out openly to diminish or quench d outburst...

He is just playing along since obviously havertz isn't really too effective recently

Honest submissions like this is the reason most Mount’s fans don’t cause nuisance here.

Lukaku pattern of play won’t work with Tuchel.

It’s beginning to look forceful.

raumdeuter:
If the team no deliver now thats when agenda will start that see Jorgino, see Lukaku

Agenda don dey fire already .

Na make food just done remain

donstan18:
Honest submissions like this is the reason most Mount’s fans don’t cause nuisance here.

Lukaku pattern of play won’t work with Tuchel.

It’s beginning to look forceful.

Havetz isn't giving him any headache of selection.


He is d only 9 present

popizaino:
No worry I go try weed.


But pls don't deflect answer my question.

Ice specifically.

Now rest in Jesus name of you can’t tell us if Pep can transform Everton.

Segedinho:
Havetz isn't giving him any headache of selection.


He is d only 9 present

Fraudvertz is and will always be a flop no matter the position you play him. He’s a failure.

Broja I tell you, is the only one that can push Lukaku at this point.

Nezzjnr:
https://www.nairaland.com/6945185/one-dies-chelsea-barcelona-fans




Afrodoc2 Leyqute.... Our Bluus are at it again

E shock you?

All of them are touts. Except for Blueman and Ibime

BikeMan:
Havertz10 please explain why Havertz can't still get into this team. Is it because he doesn't score goals as a striker that he is and only supposedly "make us play better"?

mount, ziyech and lakaka playing, i'm here for the comedy

Be like say Ghana go ja today. 1 point from 3 games. Currently a goal down and a man down

Skimpledawg

Havertz10:
mount, ziyech and lakaka are playing, i'm here for the comedy

Are you not embarrassed by your boy? After the heavy investment, he has still not scored up to 10 PL goals. A massive shame!