A Bitcoin Village in Nigeria - Creating Bitcoin Adoption Without The Government.

[Fivestar4everMVP]

Before now, I've had this believe or rather, inner thought that Bitcoin can never see or experience true adoption without the help of the government, my recent discovery however, have changed that line of thought.

Entrepreneurs in Nigeria are building on the country’s growing interest in BTC and establishing Bitcoin Village, a safe haven for Africa.

In the article above, I learnt a group of entrepreneurs have come together to build a Bitcoin City in Nigeria and they called it... Bitcoin Village.
The project has already kicked off (according to the article) and is expected to be completed by 9th of January, 2023 - which is the anniversary of the anniversary of first Bitcoin core release.

Quotes From the Article

Nigeria has had its fair share of fear, uncertainty and doubt in regards to Bitcoin, whether this has come in the form of a government ban on cryptocurrency activity or in competition with the nation’s CBDC, the eNaira, which brings more challenges in establishing government-led adoption.

But this has not stopped Nigerians who see Bitcoin’s benefit in their daily lives. And creating a circular economy on a bitcoin standard could start with this Bitcoin Village in West Africa.

Indeed, this in my assumptions, will create real Bitcoin Adoption (atleast, in the village first, depending on how successful the Bitcoin Village is, this can spread to every other parts of the country ) all without the government.

Promotional Video

https://m.youtube.com/watch?v=MAzsQKe7bec&t=10s&pp=2AEKkAIB
I personally love the way the old woman(presumably a farmer) screamed "I Love Bitcoin" in the end of the video  .

Some More Quotes

“We’re going to open up a Bitcoin village in Lagos, Nigeria. You would come here, spend your bitcoins, buy fish from the local fishermen, buy items from locals directly using the lightning network, and all that.”

A domestic water well and solar panels will allow continuous running water throughout the village and a boundless supply of energy to power the school, mining equipment, street lights and a hospital. The property is on private land in the heart of the financial metropolis of Lagos.

The Bitcoin Village will eventually also include the construction of a basketball court, soccer field and swimming pool. The village’s school curriculum will revolve around what money is and how bitcoin is money, and a regular school curriculum will also be implemented to meet local educational requirements.

Not only will locals have the best Bitcoin education as residents of the village, but tourists can also experience the store-of-value benefits of bitcoin, as well as its use as a payments rail at shops there.

Read full article Here.

Though I am not sure about the completion date of this Bitcoin Village when we consider how close we are to 9th of January, 2023 already, but I think this is indeed a good one aimed at creating adoption, and that the project received 1 full Bitcoin donation from Botmecash, points to the fact that this is a serious project.

Now Imagine if all Bitcoiners all over different parts of the world who can afford it, take up initiatives as this, to build Bitcoin cities in their localities, Bitcoin Adoption will be easily secured, even without governments making it a legal tender.

[romero121]

This is really an interesting thing. The same from Nigeria isn't a surprise for me. Already Nigeria is a country where we're able to see good growth and increased usage of cryptocurrencies. Group of entrepreneurs making the bitcoin city will help more business progress through cryptocurrency. Small droplets make an ocean, same as this bitcoin cities getting developed here and there will pave path for the mainstream adoption.

[noormcs5]

Now Imagine if all Bitcoiners all over different parts of the world who can afford it, take up initiatives as this, to build Bitcoin cities in their localities, Bitcoin Adoption will be easily secured, even without governments making it a legal tender.

I am not sure how much government influence this village has and what are the local laws for Nigeria but if you talk generally about the countries it is not easy to declare any city as a bitcoin city when the government has not allowed bitcoin to be used officially in the country.
The idea is a good one but if the government tries to interfere, it can really be bad for those who took this initiative and may have to face a court of law.

I wish governments start to accept the importance of bitcoin and digital currency and we are able to use bitcoin everywhere , there should be no restrictions on making bitcoin cities and villages around the globe.

[Fivestar4everMVP]

Now Imagine if all Bitcoiners all over different parts of the world who can afford it, take up initiatives as this, to build Bitcoin cities in their localities, Bitcoin Adoption will be easily secured, even without governments making it a legal tender.

I am not sure how much government influence this village has and what are the local laws for Nigeria but if you talk generally about the countries it is not easy to declare any city as a bitcoin city when the government has not allowed bitcoin to be used officially in the country.
The idea is a good one but if the government tries to interfere, it can really be bad for those who took this initiative and may have to face a court of law.

You have a good point, but then, I did like to make it clear to you and everyone reading that, I personally do not think anyone in their right mind would just enter a village, and decides to turn such a place to a Bitcoin city without any paper works, it is too risky to even try to, so I believe that before embarking on such a project, buying or acquiring the property and settling the community as required is not where it ends, a good lawyer, who know exactly what the law says must be hired for proper documentation of all that needs to be documented, and must get a government approval if need be, though I personally don't actually think is needed in the business side of things, considering the fact that this is like someone doing a business in his personal property.

[avikz]

If I am not wrong, I believe in the beginning of this year, Nigerian Central Bank has banned bitcoin from the country. If this is true and if an entrepreneur is building a village on Nigerian soil which will be solely powered by bitcoin, might create issues with administration.

It's like ignoring a national order completely and going on an financial adventure withoit thinking about the potential penalty it may bring.

While such initiatives are welcome, but I am afraid of the future repercussion.

[Z-tight]

If I am not wrong, I believe in the beginning of this year, Nigerian Central Bank has banned bitcoin from the country.

You are a bit wrong, it has not been banned fully in the country, this is what a google search about 'if bitcoin is banned in Nigeria' says:

It’s been more than a year since the Central Bank of Nigeria (CBN) issued a circular to banks and other financial institutions prohibiting cryptocurrency transactions and facilitating payments for crypto exchanges.

The ban is on their banks and financial institutions, they are banned from executing crypto transactions, but bitcoin is legal in Nigeria. On the topic: in my opinion, a bitcoin village or hub as we normally hear them will be more useful in a country that has probably made bitcoin a legal tender, like El Salvador, or in a country that places where bitcoin is spent are in numbers, and people are already familiar with paying or buying something with bitcoin; but in a place where people just trade bitcoin for profit, or hold it for returns, and are not used to spending it, i don't know if a bitcoin village will be successful there or attract too many persons.

[smartaction]

It is very imagine . Nigeria has developed a lot towards cryptocurrency which is really incredible. And I think Nigeria's economy will go a long way because of that. Although happening without the government, these bitcoins are boosting the Nigerian economy

[Lucius]

I watched the video and I can say that it is about a project that somehow wants to copy the Bitcoin beach in El Salvador (according to the person from the video), although from what you can see in the video it looks very modest at first and not too big in the sense that can accommodate a large number of people. Perhaps this is also the reason why the deadline for the completion of construction is so short.

However, as other members have noted, I am also interested in how the whole project will be realized at all, considering the status that Bitcoin has in Nigeria, unless there is some way to realize the whole thing without breaking the law. However, I believe that no one would do a project like this without being aware of all possible limitations, so I hope that the project will experience success.

Maybe projects like this can positively influence the government and central bank to change or soften their stance when it comes to Bitcoin.

[rojan]

It is very imagine . Nigeria has developed a lot towards cryptocurrency which is really incredible. And I think Nigeria's economy will go a long way because of that. Although happening without the government, these bitcoins are boosting the Nigerian economy

There are many other countries like Nigeria where transactions are done through Bitcoin.  However, Nigeria is ahead in terms of economy.  I don't know if Bitcoin is banned in Nigeria or not.  They use Bitcoin even though Bitcoin is banned in many countries.  They are far ahead using Bitcoin.  Bitcoin has given many countries a lot of power financially.  Bitcoin seems to be used by everyone now.

[SatoPrincess]

Nigeria is one of the Bitcoin savvy nation in the world, a the people there have great interest in Bitcoin, according to binance, Nigerians are among the countries with the highest transaction volume on p2p. Nigeria can have a Bitcoin village, El Salvador made Bitcoin a legal tender Nigeria can do the same I believe they have the resources to do it.

[kryptqnick]

I admire countries were people are self-organizing well and aren't waiting for the state to do everything for them. My country is also like that: our state institutions are often weak and corrupt, but our civil society is amazing, and there are enough people to significantly improve the quality of lives of others by organizing together and pulling some things off which the state remains unable to do or unwilling to do. Nigeria, it seems to me, is also like that, and there's a strong focus on the entrepreneur side of these things in Nigeria, so there are various enthusiastic crypto initiatives. It's crucial for a developing country to have a good society like that, it really is inspiring and shows potential. I'm happy there are such people in Nigeria, working on projects and trying to improve the economy.
What's important, though, is ensuring donation spending transparency because suspicion regarding corruption, especially in developing countries, is well-founded.

[Zlantann]

Now Imagine if all Bitcoiners all over different parts of the world who can afford it, take up initiatives as this, to build Bitcoin cities in their localities, Bitcoin Adoption will be easily secured, even without governments making it a legal tender.

Nigerian government felt that Bitcoin and other cryptocurrencies were some of the reasons why Nigeria was facing security and economic challenges. But they have really discovered that their speculations were wrong to a large extent. This project is aimed at actualizing what nations such as El Salvador and Central African Republic are doing in a small or localized form. If this project is replicated in other cities of the world, Bitcoin would receive more coverage and publicity. This project is attracting development to a local community and only an insensitive government would deprive its citizen of such vital developmental opportunity.  

[cabron]

If I am not wrong, I believe in the beginning of this year, Nigerian Central Bank has banned bitcoin from the country. If this is true and if an entrepreneur is building a village on Nigerian soil which will be solely powered by bitcoin, might create issues with administration.

It's like ignoring a national order completely and going on an financial adventure withoit thinking about the potential penalty it may bring.

While such initiatives are welcome, but I am afraid of the future repercussion.

There may be international organization like IMF that will simply make Nigerian village stop. El Salvador was tried but they won't mind.  I hope initiatives like this spreads throughout African countries, there are several more countries in extreme poverty like Zimbabwe.

Government leaders in African countries are often corrupt and will likely listen to outside influence. Lets say Financial Action Task Force (FATF) tells them to prevent BTC adoption, a corrupt leader will do so.

[masulum]

-snip-
Now Imagine if all Bitcoiners all over different parts of the world who can afford it, take up initiatives as this, to build Bitcoin cities in their localities, Bitcoin Adoption will be easily secured, even without governments making it a legal tender.

Actually many people want to do it, I used to receive payments to top up mobile phone credit balances with paypal long time ago. after running for 6 monts, I know if using paypal for payments is prohibited in my country, then i have a plan to sell the credit balance with bitcoin. However, I also found regulations that prohibit the use of currency for buying/selling with foreign currency or crypto. Of course we can sell it behind government an law. But, if we get caught, it would be more bad for me, could be getting jailed, unlike accepting Bitcoin as a work payment with overseas companies, because this is allowed. you can receive payments with crypto, as far as you don't using it to buy goods/foods or anything it will be safe. that's why communities in most countries don't act like the initiators in Nigeria. because they are trying to keeping away from breaking the rules in the country.

[Rruchi man]

Nigeria is one of the Bitcoin savvy nation in the world, a the people there have great interest in Bitcoin, according to binance, Nigerians are among the countries with the highest transaction volume on p2p.

Very proud of my country and the large contribution we the citizens have made towards the growth and development of crypto generally regardless of our government trying to suffocate our efforts through unfavorable policies.

However, as other members have noted, I am also interested in how the whole project will be realized at all, considering the status that Bitcoin has in Nigeria, unless there is some way to realize the whole thing without breaking the law.

I believe that the strong restrictions the country has set again bitcoins is in no way permanent and will soon be put to rest when a new government that is more reasonable and friendly to new innovations get into power. This is perhaps what the people who started the project have reasoned. Bitcoin has the ability to outlive any government in power, so it will be unwise to not to plan for the distant future of crypto, because of a temporary setback as an unfavorable policy. So it is proper to keep getting the bitcoin village ready in anticipation of a better government that will have nothing against it.

[Franctoshi]

Quite Encouraging , If  the Nigerian government and the Central Bank will realize the urge from its citizens to play full part in this revolution of money (Bitcoin) and take a U turn in their decision on suspending Bitcoin and cryptocurrency transactions in Nigeria, by now Nigeria would have had numerous Numbers of Interesting projects on Bitcoin more than this.The world is gradually moving into a different economy (Bitcoin) and the government should have a rethink ,embrace and support this kind of projects done by individuals.

[coinerer]

Quite Encouraging , If  the Nigerian government and the Central Bank will realize the urge from its citizens to play full part in this revolution of money (Bitcoin) and take a U turn in their decision on suspending Bitcoin and cryptocurrency transactions in Nigeria, by now Nigeria would have had numerous Numbers of Interesting projects on Bitcoin more than this.The world is gradually moving into a different economy (Bitcoin) and the government should have a rethink ,embrace and support this kind of projects done by individuals.

This is very interesting .but Governments of every country always think that since Bitcoin is a decentralized currency, there is a possibility of money laundering through it.  And it is possible to do many illegal activities through it with the eyes of the government. But on the other hand, Bitcoin is playing a major role in strengthening the country's finances. so i appraised for The Nigerian bitcoin  Village.

[Kakmakr]

Well, I have been to Nigeria for work... and I can tell you.. it's the wild west out there. A lot of the people are very good people, but there are a lot of bad characters out there too.    

A country with a oil reserve of  roughly 37.046 billion barrels ...should not have such a high gap between the super rich and poor, but corrupt government officials are stuffing their pockets and spreading that wealth to their family and friends.  

One thing I can say is this.... those guys are excellent entrepreneurs .... and they make money out of virtually everything.  

[suzanne5223]

Before now, I've had this believe or rather, inner thought that Bitcoin can never see or experience true adoption without the help of the government, my recent discovery however, has changed that line of thought.

I like the concept put together by the team that created the Bitcoin village but it is just like a P2P forum of Bitcoin trading in real life which i believe can also be dangerous for participants if good security services are not put in place.
Having said that, the word remains the same. Bitcoin can never experience true adoption without government support.

[AmoreJaz]

Quite Encouraging , If  the Nigerian government and the Central Bank will realize the urge from its citizens to play full part in this revolution of money (Bitcoin) and take a U turn in their decision on suspending Bitcoin and cryptocurrency transactions in Nigeria, by now Nigeria would have had numerous Numbers of Interesting projects on Bitcoin more than this.The world is gradually moving into a different economy (Bitcoin) and the government should have a rethink ,embrace and support this kind of projects done by individuals.

This is very interesting .but Governments of every country always think that since Bitcoin is a decentralized currency, there is a possibility of money laundering through it.  And it is possible to do many illegal activities through it with the eyes of the government. But on the other hand, Bitcoin is playing a major role in strengthening the country's finances. so i appraised for The Nigerian bitcoin  Village.

there will always be negative thoughts towards bitcoin or crypto in general, but if they have good intentions why they created such village, people will slowly understand that bitcoin is not all about money laundering or illegal activities, because it is not. people need education to understand more about this market. the more info they know, the less negative thoughts they will have.