A future for crypto at last as countries makes big U-turn decision

India un-banning cryptocurrency is really the start of something great and it is one many countries will make before this year runs out. Truth be told, paper currency is failing and yet many people in governments have turned a blind eye to it. lately, lots of countries have been looking to tap from the abundance of opportunities in which cryptocurrency offers.

Adopting cryptocurrencies might be the only way to save paper money in the long run as the currency can’t compete with demands from the world of today. While paper money isn’t actually the one at fault, the government and banks are major reasons why most currencies have no value anymore. Taking for instance my country currency which is naira has been depreciating for a very long time due to the bad monetary and fiscal policies on grounds.

While banks have failed terribly due to their habit of hoarding currencies such as dollars and pounds. The regulatory body in charge of banks as failed also to properly implement policies which will drive the naira value up against dollar and yet they ban cryptocurrency which is the only to save the economy and naira value. If the Nigerian government had been much smarter, they would tap into cryptocurrency for a long time.

After the initial ban of cryptocurrencies in Nigeria, the central bank of Nigeria also came out two days ago to declare that cryptocurrencies might be un-banned soon and Nigeria is also looking forward to owning a digital currency of its own. This is big welcome news, but the management of the coin seems to be the only issue left as the Nigerian government has a thing for mismanagement of initiatives.

Most countries government are beginning to make sense of the blockchain, and the crypto world and great adoption have been underway. The recent news of the USA government on the verge of creating a digital currency is still at large and it has been a piece of welcome news so far. Although knowing the government fully well, the aim might be finding a way to control and regulate the market and might be a plus for the crypto world in the long run.

So for now, it will only be a matter of time for the government of other countries to adopt the technology. Even the ban place on a financial institution in china did not stop other countries from showing their love for the technology. Besides the people of the republic of china still runs the crypto game and it won't take time before the government reconsiders.

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