The launch of the world's second central bank digital currency, or CBDC, is off to a rocky start. Last week, Nigeria launched its CBDC eNaira after the Bahamas became the first country in the world to release his, known as The Sand Dollar, the year before.
in a statement Quoted by local news outlet The Nation, the Central Bank of Nigeria or CBN, Governor Godwin Emefiele said "overwhelming interest and encouraging response." Similarly, President Muhammadu Buhari estimates that eNaira could generate an additional $ 29 billion in economic activity over the next decade, citing the possibility of direct government welfare payments through digital currency.
According to Emefiele, since its launch on October 25, 33 banks, 2,000 customers and 120 merchants have registered on the platform. The application is available on both Apple and Android. Since then, more than 200 million in eNaira ($ 602,959 USD) have been issued to financial institutions in the country.
But while government officials are optimistic about his outlook, the launch has not gone all that well. CBN's ENaira Speed โโWallet was briefly offline shortly after its launch on app stores such as Google Play. The app was removed to facilitate an update after receiving over 100,000 downloads, with reviews polarized. Users mostly complained about glitches and various app features not working at all. Is currently available. What reported Per the Peoples Gazette, the CBN also plagiarized a legal disclaimer for eNaira from a US equipment manufacturer.
Last month, in a poll Conducted by Finders.com and tabulated by The Straight Times, 24.2% of respondents in Nigeria said they owned cryptocurrencies, putting the country at the top of the world in digital currency use. Malaysia ranked second (18.0%) and Australia ranked third (17.7%). Meanwhile, the United States ranked 10th, with 10.4% of adults owning cryptocurrencies.
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