reserve asset for nation states<\/a>, including NigeriaUsing bitcoin (and other digital assets), banks can reduce settlement timeBitcoin can reduce capital controls, as its censorship resistant<\/p>\nFalodun and his team also provided an overview on the evolution of money and financial systems and also touched on the ways in which bitcoin and crypto are already integrated into traditional financial structures in efforts to convince the NDIC of Bitcoin and crypto\u2019s importance.<\/p>\n
\u201cNigeria must adopt balanced regulations that protect citizens and foster innovation,\u201d Falodun told Bitcoin Magazine. \u201cBy embracing Bitcoin’s uniqueness and engaging the Bitcoin community, Nigeria can lead the global financial revolution.\u201d<\/p>\n
Falodun knows that without properly educating government officials, Bitcoin runs the risk of being misunderstood and, therefore, regulated improperly.<\/p>\n
\u201cI would like regulators to understand that Bitcoin\u2019s decentralized nature is not a flaw to be regulated out of existence, but a feature that offers unprecedented opportunities for inclusion, economic freedom and optimization of financial rails,\u201d he added.<\/p>\n
I respect Falodun’s efforts.<\/p>\n
Before you go calling me a statist or some other silly reductive term, I\u2019d like to remind you that even well-known cypherpunks like Adam Back have said that part of the struggle around greater Bitcoin adoption (and encryption in general) will include engaging with governments (and courts). <\/p>\n
Proponents of Bitcoin should acknowledge our current political reality and make the case for Bitcoin to those in power if they want to see it flourish \u2014 or if they want to at least stop governments from crafting poor policy around Bitcoin and\/or attacking the industry.<\/p>\n
Take a cue from Falodun and do your part to educate local government officials, members of state-level administrative agencies or even Federal-level bureaucrats about Bitcoin.<\/p>\n
It’s one of the most important things you can do to keep your country from falling behind.<\/p>","protected":false},"excerpt":{"rendered":"
It\u2019s been a good week for Bitcoin and its status in the eyes of federal deposit insurance corporations. (Well, there\u2019s a weird sentence I never thought I\u2019d write.) On Tuesday, the anti-crypto U.S. Federal Deposit Insurance Corporation (FDIC) Chairman, Martin Gruenberg, announced he\u2019d be stepping down in January. And yesterday, Heritage Falodun, CEO of DigiOats, […]<\/p>\n","protected":false},"author":0,"featured_media":1915,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-1914","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin"},"acf":[],"_links":{"self":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/1914","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/comments?post=1914"}],"version-history":[{"count":0,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/1914\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media\/1915"}],"wp:attachment":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media?parent=1914"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/categories?post=1914"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/tags?post=1914"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}