Nigeria's eNaira Digital Currency Had an Embarrassing First Week (qz.com) 20
The eNaira is supposed to live within a mobile wallet, have the same value and be interchangeable with the physical naira for everyday transactions. Nigerians believe the eNaira, which is governed by a centralized blockchain, is part of the central bank's drive to discourage cryptocurrencies' popularity among Nigeria's youth, just like China's effort with the digital yuan. From a report: And so last week, Nigeria's central bank made two types of eNaira wallets available on Google and Apple stores: one for individuals, and another for merchants. But some users say parts of the wallet for individuals have not worked properly. Fisayo Fosudo, a Nigerian YouTuber who reviews gadgets and apps, said he and three friends initially got error messages that the eNaira app could not match their emails to their bank verification numbers. He would later register successfully but found broken links that did not lead to helpful support pages on the central bank's website. "Was really looking forward to reviewing the eNaira app but it's been hard to get it to work seamlessly. We wait," Fosudo said. After many users left poor reviews for the Android version of the eNaira app for individuals, it was taken down. It had been downloaded 100,000 times before that. The Apple Store version remained available at press time.
Nigeria should have nailed it (Score:5, Funny)
Honorable Sir (Score:3, Funny)
I am Mr. Bobson Dugnutt, a full stack PHP/node.js/html programmer with 8 years experience and over 11,010,011 eNaira which I cannot escape from my wallet because my phone is using Android 9.
With your assistance, and participation, I will transfer my entire balance to the worldwide financial hub of El Salvador, where it will be converted to several Bitcoins, of which you will share three. All I require is your Bitcoin cold storage address, so I may transfer all 11,010,011 to your safe control.
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Would providing my credit card # help with this?
Re: Honorable Sir (Score:1)
A government currency that charges fess? (Score:2)
In reading through a quick summary of eNaira features [premiumtimesng.com], one question is if there are charges to use the platform - there are not for 90 days, but then after that it says:"
it would revert to applicable charges as outlined in the Guide to Charges by Banks, Other Financial and Non-bank Financial Institutions.
So not sure how this is much better than using bank transfers, and I'd be hasten to store real money into a platform that seems so flaky.
It seems like if you are going to have a government digital currenc
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What makes you think governments can't charge for services?
What makes you think that is anything like what I said?
I was talking about a government currency. Do you have to pay a fee to use a dollar bill?
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You may want to get some help with this[sic] goalposts, you're going to throw out your back moving them that far.
It seems like if you are going to have a government digital currency there is no reason you should have to pay fees, the infrastructure would be paid for by the government.
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Nigerians believe the eNaira, which is governed by a centralized blockchain, is part of the central bank's drive to discourage cryptocurrencies' popularity among Nigeria's youth, just like China's effort with the digital yuan.
Crap. China wants people to use the digital yuan as a goal itself. They don't need it to discourage people from using cryptocurrencies. They have guns and prisons when they want to discourage things.
Discouragement is best done in layers.
No need to jump straight to the last resort.
I found you in my search for a reliable person! (Score:4, Informative)
So What? (Score:2)
They rolled out a new software platform across the entirety of a fair sized nation and experienced some operational issues. So what? That happens with ever software roll out and has nothing to do with the crypto-currency's viability and adoption. I'd be more interested to see what's happening in a month, after they've ironed out the bugs and it has a chance to gain traction.
I'm thinking about El Salvador's Chiva and wondering how that is going. What's the actual adoption rate and if it is used, and how much
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"a fair sized nation"
Nigeria deserves more respect than that. It's the 7th most populated nation in the world with 212M people. Thats 63% of the US. And it's all contained in haft the space of Alaska.