S12: Naira first & what next with NFT

Welcome

Welcome to the 12th series of breakfast with blockchain. I know you have been hearing NFTs. We have discussed NFT on this platform before, and I'm sure it will be between the 1st and 5th series. You can refer to it.

Before we start, this week has been wow-on-wow about getting money. it has not been easy to get your hands on Naira. Naira wey choke for street normal normal before con turn to gold hardly minable and series of events has unfolded since this week.

1. POS charge 1k for every 10k the last time i checked. a grieved user on twitter even say it is 1k charge to withdraw 5k. may God help us

2. some people claim that withdrawal on some ATMs is 1k and you can only withdrawal 3 times, which means you can only withdraw 3k/day.

3. Yet, we saw on social media, someone who was spraying bundles of new note at an event.

4. but ever since that circulation, it has been a serious crack-down on banks. some bank staff said EFCC has been to various branches scrutinizing how they dispense the new note at their disposal. some witness even claims the bank Manager was whisked away to answer disturbing questions about it. this is a good time to say wahala wahala

5. The Bank network is another headache on its own. i remember i was debited 3 times for a declined transaction after my purchase. imagine it was a consumable. i go wash plate tire for restaurant.

6. The queue at the ATM points now is almost longer than filling station and INEC voters card collection put together. e Choke guys.

7. right now, Cash is king. if you are married to POS personnel, your wings are supposed to be high.

and you can't help but wonder, what is going on mhennn. what is going on in our country right now? joining me quickly is xxx xxx

Financial Inclusion?

the closest Nigeria has ever gotten to financial inclusion is the implementation of the POS terminals. it did good justice to solving financial problems and access to financial services in deep rural areas where banking infrastructures cannot be set up or even environment where their are low security and civil unrest. POS terminals solve financial inclusion problem at least to a level of fault.

what are the possible outcome of this naira implementation

1. it is sure certain that CBN will be able to keep tabs on the naira in circulation. knowing fully who is with every kobo and what he or she is doing with it.

2. it will help cashflow auditing

3. it will reduce money laundering to a level of fault. and many other advantages

Questions

1. what is going on with Naira right now.

2. this scarce model implemented by CBN, will it appreciate naira.

3. the problems around accessing physical Naira are affecting the way we commerce. is there a way around it?

4. can people leverage alternative currency for commercing?

5. what should we be looking forward to with Naira?

6. One tip to stay ahead this season!

Conclusion

this is what we have been talking about decentralisation, you will think Nigeria govt is weak until now that you see what they can do. imagine small, implementation of a change of Naira Note, see where we are right now, right away. a well controlled dispensation strategy, see where it leads us. it is true that for things to go well, it will first get worst. but only time will tell if this change is a good change or a pure disaster.

I have two pieces of advice for you

1. take full control & full ownership of whatever you term "yours." just imagine you want to change to dollars right now; imagine you

2. consider this one a bit of financial advice, Avoid people, avoid small arguments, people are angry, if you greet person too much this period self, you fit collect.