The call for Nigeria to embrace a Bitcoin standard, Jack Dorsey reacts

The call for Nigeria to embrace a Bitcoin standard, Jack Dorsey reacts

BUSINESS | Jun 14 2021 | WOZINGA NEWS

The call for Nigeria to embrace a Bitcoin standard, Jack Dorsey reacts

  • Twitter co-founder Jack Dorsey tweeted Sunday: “The people of Nigeria will lead bitcoin.”
  • The microblogging platform has been suspended in Nigeria. It caused nationwide protests. 

By Marielle Petere Wozinga Journalist

The call for Nigeria to embrace a Bitcoin standard.

Twitter CEO Jack Dorsey reacted to the Bitcoin Magazine’s op-ed of a famous NFL player Russell Okung, The Guardian reported Sunday.

Meanwhile, Okung is a 32-year-old NFL star and a Nigerian descendant; yet, he was born and raised in the USA. But, it happened when he wrote an open letter for the president of Nigeria, asking to embrace a Bitcoin standard.

Also, It was after the nationwide ‘Democracy Day’ protests occurred on Saturday, Dorsey tweeted Sunday: “The people of Nigeria will lead #bitcoin” with the BTC symbol and flag of Nigeria.

Jack Dorsey consistently supports bitcoin

Dorsey always shows support to Bitcoin. He is vocal about it. He believes in the crypto capability and its future.

Based on statistics, Nigeria has been described as one of the cryptocurrency markets around the world. Statista, a global market data tracker, explained that over $400 million worth of cryptos has been traded in 2021.

However, the central bank of the country disallowed financial firms deal with digital coins and trade in crypto exchanges. Despite the ban, some Nigerians have found a way to tweet secretly using Virtual Private Network (VPN).

Chaos during Nigeria’s Democracy Day

On June 12, the nationwide protesters held banners and placards during “Democracy Day.” It said, “Buhari must go.” The chaotic event took place in the capital city, Abuja, and in other areas such as Lagos.

CNN revealed the cause of the internal dispute of the country. One of those reasons was the recent indefinite Twitter ban in Nigeria, dated starting on June 4.

To elaborate on this, the microblogging platform, Twitter, has been suspended in Nigeria. When it had removed President Muhammadu Buhari’s tweet, because the post was offensive, and had violated its rules.

In addition, BBC noted on June 2 that the post referred to the 1967-70 Nigerian Civil War.

It read: “Many of those misbehaving today are too young to be aware of the destruction and loss of lives that occurred during the Nigerian Civil War. Those of us in the fields for 30 months, who went through the war, will treat them in the language they understand.”

As a result, the Information Minister of Nigeria named Twitter’s action unfair, and even labeled it as a ‘double standard’. Then, Nigeria once again became the headliner as the country has banned Twitter.

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