On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
Nigeria, one of the biggest cryptocurrency markets in the world, recently emerged as the country with the highest number of bitcoin searches globally, according to Google Trends data. The data shows that the West African country has a search score of 100, which is more than double that of its nearest rival.
Youth-Driven Interest
According to one local report, Nigeria’s rise to the top of bitcoin search rankings signals the growing utility of the crypto in that country. The report also explains that country’s youth have been the decisive force behind this surge in bitcoin searches. This assertion is supported by Senator Ihenyen, the new president of the Stakeholders in the Blockchain Technology Association of Nigeria (SIBAN).
In his reaction to Nigeria’s new status, Ihenyen insists this is hardly surprising for a country with a “median age of 18.4.” He contends that in such a scenario, “interest in bitcoin and its adoption should be expected.”
As the Google Trends data confirms, the Nigerian interest in bitcoin is also decentralized with the Delta State ranked first in that country. Lagos, the “most populous city” in Africa is ranked a distant 17th. According to the SIBAN leader, this decentralization of interest suggests that BTC is seen by the youth as “represent(ing) the democratization of access to global wealth.”
Decentralized Interest
Meanwhile, Ihenyen points out that while institutional investor interest in bitcoin is taking hold in countries like the United States, interest for BTC “in Nigeria is as decentralized as the cryptocurrency itself.” The SIBAN president explains:
Nigerians are experiencing the level of financial inclusion that many have expected for too long. The freedom of money is a powerful thing, especially in a borderless, digital economy. Whether for remittances, e-commerce, bitcoin trading, more and more Nigerians are taking interest in bitcoin daily.
According to Ihenyen, this growing interest be cannot be stopped but “can it be maximized and managed.” He adds that policymakers and regulators should therefore be searching for ways to maximize and manage this interest instead of “looking for the red button.”
In the meantime, the Google Trends data also shows that two more African countries, namely South Africa (2) and Ghana (5), make it into the top five of the rankings. The next highest-ranked African country to feature on the list is Kenya at number 14.
What does it mean for Nigeria to be ranked number on the bitcoin search list? Tell us what you think in the comments section below.
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