I don't find it surprising that they're launching faster. Firstly, they have less to risk. China is second biggest economy in the world, and countries from the EU are also all pretty high. As for Nigeria, it's #30, so while it's not doing badly itself,
That place doesn't matter, India is above France by nominal GDP and Mexico and Indonesia above Switzerland and Netherlands, do you really think it's a fair comparison to the capabilities those countries have at their disposal now?
Nigeria might be #30 by nominal but by capita, they are #160, in short, large population but poor.
And when one of these countries comes up with stuff like that, saying they will do in just three months what other countries couldn't do it's clear what will happen, it will be a flop. What I suspect is going to happen is a lot of money going to some official and business to develop it and then nothing, somebody got some fat checks and the project will be abandoned because of...reasons!
I know I've said this sometime before but I'd say it again, I honestly see no reason why the Nigerian government are working on launching a CBDC,
Have some news for the press that they are working on something and not just laying around all day? Also as I said a way to direct some research funds to some probably new company, plus a lot of high paid jobs in new commissions for some relatives that need one?
It's quite nice to hear how CBDC in Nigeria is launching in the very near future this year.
Why?