The CEO of Nigerian financial platform Sumotrust & Truzact has said that ending poverty in Africa is critical to the development of the digital asset industry on the continent.
Igwe Chrisent, head of investment platform Sumo Trust, at the Stakeholders in Blockchain Association of Nigeria (SIBAN) summit, said that in order to achieve integration of African economies and blockchain technologies, the first priority is to eradicate hunger.
“Initially, Africa must eradicate poverty and create a middle class, then move to digital technologies and the implementation of blockchain technology. If we don’t correct the situation, we will continue to move in a vicious circle,” said Cresent.
The head of Sumo Trust cited World Bank data according to which 83% of the Nigerian population lives with incomes below the subsistence level. And without satisfying basic needs, people are not able to delve into the study of new technologies.
However, according to a survey by the analytical platform ConsenSys, Nigeria is the world leader in awareness of cryptocurrencies – 99% of the country’s residents know about them.
