Blockchain in Nigeria: "The focus is on hype; there's no originality" — Senator Ihenyen
- Nigeria's blockchain and crypto space is focused on hype without originality.
- Blockchain can solve real-world problems in logistics and finance.
- Memecoins and get-rich-quick schemes have overshadowed the potential of blockchain.
The focus on hype and get-rich-quick schemes in the Nigerian blockchain and crypto space is detrimental to its long-term adoption and credibility. While there are real-world problems that blockchain can solve, the prevalence of memecoins and scam coins has overshadowed its potential. Transparency, security, and a shift towards fundamental projects with practical use cases are necessary for the mainstream adoption of blockchain technology.
