Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Stable Coins Forum => Topic started by: Malam90 on March 19, 2021, 04:59:29 AM
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Okeke Leticia Chigozie, a 28-year-old Nigerian logistics worker, dreams of opening her own shoe store in Nigeria. Having no credit history, she does not qualify for a bank loan to fund her enterprise. Instead, she joined a traditional savings group in her community, sometimes called esusu. These savings circles allow those without access to traditional banking services to save money and acquire loans or credit.
The problem is that in inflationary countries like Nigeria and Zimbabwe, the value of savings could plummet. Stablecoins – cryptocurrencies pegged to a strong fiat currency like the U.S. dollar or a basket of assets to keep their prices stable – could be a solution to Leticia’s problem.
“Devaluation is a problem because if you check the last two years, 20,000 naira doesn’t really have a lot of value now,” Leticia said. “What if I can actually invest this money somewhere or probably save it somewhere and the value doesn’t go down? Then I can use it for something better. Why not?” More from source (https://www.coindesk.com/nigerians-turn-to-stablecoins-for-protection-against-inflation)
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that is the right solution from a person named Okeke Leticia Chigozie because he must understand very well what is called a stbail coin.
Okeke Leticia Chigozie prefers stable coins like USDT, BUSD, DAI or USDC because the country is full of inflation which they really don't like.
I am also confused why the countries of Nigeria and Zimbabwe are so fast creating inflation and that is really strange because I believe that there is a case behind it that must be resolved.
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A wise choice from a country that is full of inflation, so I think that if a country has high inflation it should create the latest technology to minimize these losses.
I think this will be something valuable for Nigerian citizens because a stable cryptocurrency will continue to be stable like USDT, USDC or BUSD.