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 Africa must erase poverty and help people into the middle class to drive faster blockchain technology adoption. 
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 There has been a resounding call for Nigeria, and Africa in general, to incorporate <a rel="noopener noreferrer nofollow" title="blockchain" href="https://thebittimes.com/tag/blockchain.html">blockchain</a> technology into its mainstream living. However, during a fireside chat involving stakeholders in the Nigerian <a rel="noopener noreferrer nofollow" title="blockchain" href="https://thebittimes.com/tag/blockchain.html">blockchain</a> community, it was noted that <a rel="noopener noreferrer nofollow" title="poverty" href="https://thebittimes.com/tag/poverty.html">poverty</a> has to be conquered first before <a rel="noopener noreferrer nofollow" title="blockchain" href="https://thebittimes.com/tag/blockchain.html">blockchain</a> technology can be properly incorporated into African society. 
 At the Stakeholders in Blockchain Technology Association of Nigeria (SIBAN)’s Digital Assets Summit 2023, held in Abuja, the nation’s capital, GT Igwe Chrisent, the CEO of Sumotrust &amp; Truzact, an online savings and investment platform stated that hunger and poverty first need to be eradicated from Africa before a better level of blockchain technology incorporation can be achieved. 
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 <img src="https://cdn.thebittimes.com/images/2023/09/08/edfe6c6665cc300e50dd4eabac0df174.webp"> 
 <figcaption style="text-align: center;"> Sumotrust&nbsp; &amp; Truzact CEO at the SIBAN Digital Assets Summit 2023. 
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 According to a World Bank report titled “A Better Future for All Nigerians: Nigeria Poverty Assessment 2022,” just 17 percent of Nigerian workers hold the wage jobs best able to lift people out of <a rel="noopener noreferrer nofollow" title="poverty" href="https://thebittimes.com/tag/poverty.html">poverty</a>. 
 In Chrisent’s view, being able to erase the poor class in general and move them to the middle class would be the biggest driver of faster blockchain technology incorporation. This is to enable them to afford three square meals daily and have a little extra to save. However, the stability of the economy in Africa is key to establishing this. 
 In his words: 
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 “ If we do not fix that, we’ll keep having these conversations over and over again” 
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 Despite the extra scalability that comes from incorporating <a rel="noopener noreferrer nofollow" title="blockchain" href="https://thebittimes.com/tag/blockchain.html">blockchain</a> technology as a nation and continent, individuals cannot focus on exploring them while still battling with the problem of basic amenities, said Chrisent. 
 Related: Nigeria’s Web3 education efforts seek to tackle language challenges 
 Despite the poverty challenges, Nigeria has emerged as one of the most active countries in terms of adoption and curiosity about Bitcoin and other cryptocurrencies. According to data from Google Trends, Nigeria ranks second by search interest for the keyword “Bitcoin,” behind El Salvador. 
 The current Nigerian President, Bola Tinubu released a manifesto during his campaign which, if implemented, would enable the use of <a rel="noopener noreferrer nofollow" title="blockchain" href="https://thebittimes.com/tag/blockchain.html">blockchain</a> technology and cryptocurrencies in the nation’s banking and finance sector. 
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Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/africa-s-blockchain-journey-begins-with-poverty-alleviation-sumotrust-ceo-tbt61994.html">https://thebittimes.com/africa-s-blockchain-journey-begins-with-poverty-alleviation-sumotrust-ceo-tbt61994.html</a>

Africa’s blockchain journey begins with poverty alleviation — Sumotrust CEO

TheBitTimes

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