The founder of the African-focused media company urges the continent’s governments to adopt cryptocurrencies

Regulate encryption to avoid manipulation by Russia and China

He said: Cryptocurrency and digital money will eventually unite the world and the earlier African governments embrace it, the better for the continent’s growth. Africa can’t afford to play catch-up on blockchain technology; it’s the future.

Osita Oparaugo, founder of Footprint to Africa, has contended that a timely embrace of cryptocurrencies by African governments would be gainful to the continent’s development possibilities. In his comments distributed by the Vanguard, Oparaugo, who was co-host of a Decentralized Finance (defi) occasion in Nigeria, recommended that African nations can’t afford to lag behind when it comes to crypto. After noticing the effect of digital currencies and blockchain on worldwide finance, Oparaugo clarified why African state run administrations should jump aboard rapidly.

To back up his prediction about the future of finance, Oparaugo used Twitter’s recent announcement that it will enable users to tip each other in bitcoin as an example. The Footprint to Africa founder also made reference to comments made in the past by U.S. billionaire Mark Cuban. In those comments, Cuban expressed his belief that defi would pose a challenge to traditional banks.

Despite the advocacy and pleas by crypto-supporting individuals like Oparaugo, African governments continue to shun cryptocurrencies. The few countries that have embraced blockchain have instead chosen to create central bank digital currencies.

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