Why A Country Like Nigeria and Venezuela Needs Massive Crypto Adoption.... (From My Perspective)

Image source

---

---

In 2018 January I lost my job due to an illness that threatened to take my lifefor one full month and the truth was that I had already worked in that same establishment for about 4 years and only had my salary increased once in four years. Now the truth was that there was no benefit if one is suddenly retrenched because of an illness or any unforeseen circumstances that might lead to one being unfit to work. I had underlying health issues and if the organisation finds out about my health statement, they'll fire me because they don't want to risk their business if I suddenly fell ill and I'm currently in the middle of a job which might rake in income. They'll fear that they'll lose even if it's at the expense of my health.

Now I was holding on to this job from 2013 to 2017 hiding my health issues. There were far more worse jobs out there so I decided to hold on to the one I had. The truth was that my salary became valueless with time because the inflation rate was high and Nigeria is a country where salary earners become poorer by the month while traders, merchants and those that deals in consumption goods and commodities becomes richer by the day. This is because this People benefits from inflating the prices of goods and services from the manufacturer to the wholesalers and the person buying per unit suffers the whole thing. It's like there was no flow and only a particular type of people suffers.

---

So with time I could not save money anymore and even I had to stop eating three square meals just so my expenses could stay within my salary range. Truth is, I went into Ponzi schemes and doing micro jobs online and with this i was able to earn USD and then holding USD which was a far superior currency helped me to deal with my salary situation but then there's one thing about being a first born in a Nigerian family and that's the fact that your responsibilities keeps increasing with time whether your salary increases or remains static. I needed more money and 2017 was a year which cyber crime increased in Nigeria and many unemployed people took to crime and the painful part was citizens robbed their fellow citizens while the government keeps making policy about oil and increment in national assembly income.

Nigeria and Venezuela are largely the same in everything; poverty, corruption, civil unrest and hyper-inflation. Including unemployed and basically Nigeria doesn't create wealth, they take wealth, refurbishes it and take advantage of it, milking the source till it's dead rather than maintaining it and keeping it running for a long period of time so it can create wealth an example of this is oil. The government however is clueless. For a person like me, knowing the internet, cryptocurrency and blockchain is what kept me away from financial implosion. Nigeria is of course following suit with countries that are against the adoption of crypto

---

Image source

---

Even if it's basically created a source of income for most of their citizens when the financial sector keeps faltering. I can largely say the same for Venezuela. I'm not a professional analyst but I've looked at the Venezuelan community that has come here and their currency rate compared to how much they earn from blogging is really amazing. Nigeria and Venezuela is a country that should fully adopt cryptocurrency and give their citizens opportunity to make wealth in a place where the fiat currency has more the failed in both holding value and purchasing power. I found another source of income largely independent from what Nigeria has to offer and I feel I've lost all faith in how the Nigeria government and the economy has turned out to become.