Digitalized Currency: Cryptocurrency and Blockchain are making wave in the world today.
Technological changes pose new challenges and guarantee further opportunities. Lucky Uwakwe (CEO/Co-Founder at SaBi Exchange) in a conference held in Nigeria, Cyberchain2019 on the 31st of August confirms that transactions done every week in Nigeria with cryptocurrency are about 2.1 billion naira. He said that he helped Central Bank of Nigeria understand the importance of digital currency and blockchain technology in 2016 when they were against MMM.
In Africa, a lot of blockchain technology has been focused on digital currency and has a great impact on what we do on a daily basis. For every good innovation comes challenges that either make the invention better or put an end to it altogether, but thanks to technology, every challenge can be tackled with new ideas.
Some of the challenges faced by digital currency are: issues of closed accounts, hacked or tempered accounts, limited number of coins, higher transaction fees to be paid which discourages participants, delay in the confirmation of account or transactions, frozen accounts of users which usually takes a long time to be fixed and maybe sometimes not get attended to at all.
The cybersecurity threat is worth billions (about 7.8 billion every month). But with all of these threats, cryptocurrency exchanges have more trade volume than state monthly allocation in Nigeria.
Speaking about SaBi in the conference, Uwakwe said it’s a digital assets exchange providing advanced financial service to global users. It was founded in Nigeria, by partnering with world top exchange. It offers easy access to 200+ tokens for users to optimize trading strategy. SaBi offers a 3 in 1 function: FIAT + EXCHANGE + MARGIN. It offers 1st, 2nd, and 3rd level exchanges.
SaBi is dedicated to making the digital asset’s investment easier and safer and aims to empower the hardly accessible area of the world with blockchain technology in an efficient manner.
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