Home Business NDIC, CBN consider crypto currency
NDIC, CBN consider crypto currency
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NDIC, CBN consider crypto currency

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Developed countries and indeed their developing counterparts have since begun to tow the path of digital currency and Nigeria would noy be left behind in the economic revolution which recently caught the attention of the Central Bank of Nigeria (CBN).

Crypto currency is a digital asset from block chain technology designed to work as a medium of exchange using cryptography to secure  transactions and to control the creation of additional units of the currency. Crypto currencies are a subset of alternative currencies or specifically  digital currencies.

Following the economic revolution and the quest to sustain the economy through advanced financial technology, a new form of digital currency in which encryption techniques are used to regulate the generation of units of a currency and verify the transfer of funds operating independently of a central bank, needed to be introduced into the economy. As it is today,  Automated Teller Machines (ATM) for crypto currencies have  been launched in Canada, UK, Germany, South Korea, Brazil, India etc with the sole aim of aiding banking technology.

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