Digital Coin Economy

[Mate2237]

It is over a decade that many countries dreamt of vision 2020, the idea behind the vision of the world mostly African states under OAU , was a cashless society which was to focus on two parts of state economies. The first of such is a cashless society based on digitization of every banking transactions and the other is the digitization and extraction of financial incomes from digital sources.

However, the dream was not realized in many countries especially in African countries because there was not properly planned mechanisms to implement it by the envisioned 2020.

Interestingly, the coin Economy in the time past has been the easiest economy that placed the livelihood of the people in good shape. Between 2021-2022 some countries like Nigeria have made strong efforts in tapping into the vision of the digital economy. The gitital economy cannot exist without a digital currency like Crypto currency, e-naira just the Nigerian brand of digital currency.

The coin Economy otherwise known as digital economy according to experts will ease transaction of businesses and the carrying of physical cash around which endangers business people and their businesses. For instance, on the 14th of April, an Hausa business man based in Port Harcourt went into first bank headquarter only to notice that all the money he carried changed to white papers.

These things and others like arm robbery , loss of physical money, can be curtailed. It is important to know that, the modern digital coin Economy is the best banking system that seem to be lucrative and safer with ones wallet.

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[Frankolala]

    Coin Economy (Bitcoin) has made transactions easy because it is decentralized, some of the Africa countries finds it difficult to embrace this new era of digital coin as they don't understand how safe,easy and flexible it is.
     The digital Economy has helped so much in terms of saving your money without anybody knowing that you have such amount, and you can easily have access to your money whenever you want,from any part of the world. For instance George is a lame man ,he lives in US and wants to send money to his friend in another country using a digital currency Bitcoin. All he needs is his friend's wallet address and make the transaction,his friend receives it instantly. But without coin Economy, in my country it will take three working days before George's friend will receive the money.

[NdaMk]

    Coin Economy (Bitcoin) has made transactions easy because it is decentralized, some of the Africa countries finds it difficult to embrace this new era of digital coin as they don't understand how safe,easy and flexible it is.

The major undoing in getting people to accept cryptocurrency transaction is the issue of Internet. Some of this people don't even have access to smart phones and some that do can't operate it. The issue of hausa man raised is what sadly top businessmen in the far northern Nigeria face and once you try to bring them into cryptocurrency they talk about Internet scam. Luckily as more youths are coming into this space we will get the information to the older generations. Coin Economy is just time away from being globally accepted

[348Judah]

The coin Economy otherwise known as digital economy according to experts will ease transaction of businesses and the carrying of physical cash around which endangers business people and their businesses. 

i want to be assured that the digital coin economy you're referring to here still maintain within cryptocurrency and probably bitcoin right?

These things and others like arm robbery , loss of physical money, can be curtailed. It is important to know that, the modern digital coin Economy is the best banking system that seem to be lucrative and safer with ones wallet.

challenges of bulkiness and physical assault in their likes could be mitigated through the adoption of bitcoin in cryptocurrency, you also need to remain safe by descerning where to keep your bitcoin, which type of wallet to use, and how to secure the access to the wallet.

[EarnOnVictor]

It is obvious that crypto is part of the digital economy as it is being adopted more in recent years. The Defi projects, NFTs and others can't be underestimated in the digital economy, and things will get better as time goes on. Although a lot has to be done because the reportage of the crypto dealing and transactions are low, which is not good for the world's economy because, without adequate records, no one could actually know how the world's economy is growing or depressing.

Having pointed that out, every aspect of the digital economy has its pros and cons, it is not peculiar to anyone. Hackers will always be there with other heists and mischief makers. It is the world that should rise to that challenge because the digital economy, especially crypto has come to stay.

[Bitcoin_Arena]

These things and others like arm robbery , loss of physical money, can be curtailed. It is important to know that, the modern digital coin Economy is the best banking system that seem to be lucrative and safer with ones wallet.

Digital assets can also be stolen by hackers if the owner does not practice proper security procedures. So either way, it comes to one's cautiousness.

It is obvious that crypto is part of the digital economy as it is being adopted more in recent years.

But crypto is not part of the vision many Countries and Governments are looking forward to as they can not control the networks. Maybe what we will see are Central Bank Digital Currencies being introduced in all Countries by the respective Governments.

[Darker45]

Lest we be misled, the digital economy that various countries envision is not about Bitcoin or even crypto; it is about digital fiat. And digital fiat replacing hard cash may not really be progress. A number of countries are gradually eradicating the use of hard cash and are now testing the use of CBDCs. CBDCs only take away what little freedom cash users' have. The moment CBDCs are fully implemented nobody could hide from the authorities anymore. Transactions are under full monitoring.

[cryptoaddictchie]

These things and others like arm robbery , loss of physical money, can be curtailed. It is important to know that, the modern digital coin Economy is the best banking system that seem to be lucrative and safer with ones wallet.

Yes digital economy is helpful. However there are some who abuses it and uses its featured on wrong doings and scamming of people. Its safe to say that its not perfect and pose also a danger to everyone. We are likely enjoying the benefits of blockchain and crypto but some who dont have knowledge and newbies are bwing trick in the process only to know that their funds are hack or scam by mindless thieves.

[348Judah]

Lest we be misled, the digital economy that various countries envision is not about Bitcoin or even crypto; it is about digital fiat. And digital fiat replacing hard cash may not really be progress. A number of countries are gradually eradicating the use of hard cash and are now testing the use of CBDCs. CBDCs only take away what little freedom cash users' have. The moment CBDCs are fully implemented nobody could hide from the authorities anymore. Transactions are under full monitoring.

You got the point right, they ste only working on CBDC but is that really the choice of what people want? i see it this way that the governmentwere only perpetrating the use of CBDC in okace of bitcoin while the people were after bitcoin and not CBDC to engage with, teo different motives and wrong approach from the governments, the norms will always be and which is the need that the people want to het in place through the decentralized digital network of bitcoin and not CBDC.

[Darker45]

Lest we be misled, the digital economy that various countries envision is not about Bitcoin or even crypto; it is about digital fiat. And digital fiat replacing hard cash may not really be progress. A number of countries are gradually eradicating the use of hard cash and are now testing the use of CBDCs. CBDCs only take away what little freedom cash users' have. The moment CBDCs are fully implemented nobody could hide from the authorities anymore. Transactions are under full monitoring.

You got the point right, they ste only working on CBDC but is that really the choice of what people want? i see it this way that the governmentwere only perpetrating the use of CBDC in okace of bitcoin while the people were after bitcoin and not CBDC to engage with, teo different motives and wrong approach from the governments, the norms will always be and which is the need that the people want to het in place through the decentralized digital network of bitcoin and not CBDC.

I think most of the people don't care. To those who do, it is most probable that they wouldn't choose a CBDC. So from the point of view of end-users I think a CBDC is not really interesting. But from the point of view of the government, a CBDC is a step forward to make sure the authorities know everything about how money is being spent by everyone and that they are capable of freezing funds, rejecting transactions, or locking wallets.

[Hyphen(-)]

The major undoing in getting people to accept cryptocurrency transaction is the issue of Internet. Some of this people don't even have access to smart phones and some that do can't operate it. The issue of hausa man raised is what sadly top businessmen in the far northern Nigeria face and once you try to bring them into cryptocurrency they talk about Internet scam. Luckily as more youths are coming into this space we will get the information to the older generations. Coin Economy is just time away from being globally accepted

This is correct; there are people in very remote areas who have no knowledge of the internet, which leads them to believe that anything related to the internet is a scam because of how frequently they hear about Ponzi schemes; such people will take a very long time to come into the spotlight of this great and advanced technology of Coin Economy.
Not only is northern Nigeria left behind in terms of technology, but there are some parts of Africa where accepting the Coin economy will take a very long time.

[stompix]

These things and others like arm robbery , loss of physical money, can be curtailed. It is important to know that, the modern digital coin Economy is the best banking system that seem to be lucrative and safer with ones wallet.

Digital assets can also be stolen by hackers if the owner does not practice proper security procedures. So either way, it comes to one's cautiousness.

Hihi, yeah, never gets old:



Man Robbed of $1.8 Million in Ether at Gunpoint
https://bitcoinist.com/man-robbed-1-8-million-ether-gunpoint/
UK Crypto Trader Forced to Hand Over Bitcoin at Gunpoint
https://www.coindesk.com/markets/2018/01/29/uk-crypto-trader-forced-to-hand-over-bitcoin-at-gunpoint/
Bitcoin Sale Ends With Knifepoint Robbery in Florida
https://www.coindesk.com/markets/2016/07/28/bitcoin-sale-ends-with-knifepoint-robbery-in-florida/

want more, OP? 

They both have advantages and disadvantages!
You can't steal the cash sitting in my pocket while I'm browsing the internet on some public full of malware websites, no virus in this world has managed to transform my floppy disk in a vacuum cleaner that will suck banknotes from my wallet. At the same time, no robber that ambushes me in a driveway has any clue that some random letters on my llama socks are actually my private key.