How can grassroots Naira in Kolo/clay bank connect with Bitcoin?

[Bluebird1357]

In Nigeria, about 55% of the population lives in cities and the remaining 45% in rural areas, and in Africa, about half of the total population lives in cities, while the rest lives in rural areas. A large part of the country's population lives in rural areas. Nigeria's agricultural sector accounts for about 24% of GDP, which is associated with rural agro-industry, culture, land and people.


In Nigeria, keeping naira in kolo/clay banks is a cultural and financial practice. Ordinary people, especially the poor or those outside the banking system, deposit small amounts of money in kolo. If these savings are put into Bitcoin and linked to the digital economy, what will be the impact on Bitcoin in Naija? And will grassroots adoption be beneficial for the rural people or the opposite?

[Nathrixxx]

It makes so much difference if we know all that is involved, because after being in control of the savings you made, you're going to discover that the value of #1,000 last year has diminished to about #550 this year due to inflation, which shows that the economy is not smiling at all with those that fully operates in using fiat currency, while bitcoin could have doubled your savings 2x or even more as the market rises.

[Spaceman1000$]

In Nigeria, about 55% of the population lives in cities and the remaining 45% in rural areas, and in Africa, about half of the total population lives in cities, while the rest lives in rural areas. A large part of the country's population lives in rural areas. Nigeria's agricultural sector accounts for about 24% of GDP, which is associated with rural agro-industry, culture, land and people.


In Nigeria, keeping naira in kolo/clay banks is a cultural and financial practice. Ordinary people, especially the poor or those outside the banking system, deposit small amounts of money in kolo. If these savings are put into Bitcoin and linked to the digital economy, what will be the impact on Bitcoin in Naija? And will grassroots adoption be beneficial for the rural people or the opposite?

One of the major issues we have in our rural areas is the fact that most communities in the rural areas don't have electricity and some communities also don't have the internet service. However for this kind of a plan that you have to work, there should be enough and a massive spread of Bitcoin knowledge to the rural communities, so I believe there is need for some of us that have this basic knowledge to go back to rural communities and try to relate the knowledge of Bitcoin to most of our agro farmers, before we can start talking about them investing in Bitcoin because they cannot invest with without basic knowledge.