MARA Set To Revolutionalise Blockchain Ecosystem In Nigeria
TECHDIGEST – A Pan-African crypto exchange, MARA, has expressed its readiness to transform the socio-economic facet of Nigeria with its Blockchain platform.
This was disclosed by Chi Nnadi, co-founder and CEO of MARA, during a media conference in Lagos recently.
Speaking at the event, Nnadi expressed optimism that millions of Nigerians will readily embrace the innovative platform which is already being patronised by some countries.
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According to him,”MARA needs to come at a critical inflection point in Sub-Saharan Africa. Political and economic instability has led to devaluation of currencies across the region, while the current centralised financial system continues to present ongoing obstacles to the development of both local economies and individuals.
“As a result, food prices have doubled to triple in some areas and created record-breaking interest rates. These tired systems have prompted a dire need for a decentralized alternative.
“MARA’s mission is to become the portal to the crypto economy for the African population. While cutting-edge technologies such as cryptocurrency have shown incredible promise among Sub-Saharan Africa’s predominantly young and technologically-native population, there are considerable hurdles to using them.
“Many existing global exchanges cannot operate in the region due to regulatory challenges as well as difficulty reaching the African consumer in an authentic way.
“These barriers to access significantly restrict both the number of people who can participate in the crypto economy and the potential uses for digital currency in the region.”
