Owen Odia, Luno Country Manager for Nigeria, has said that Google’s trend analysis has shown that Nigeria is currently the leading country with the most internet users who are searching for bitcoin.
In an exclusive interview, Odia said aside Google’s trend analysis, which has shown Nigeria as having the leading internet users who are looking for Bitcoin, “our recent Future of Money report also suggests that people from emerging markets are constantly looking for ways to improve their financial status and cryptocurrency provides an opportunity to do this”.
Odia explained that it would be interesting to gather the “value and volume of cryptocurrency transaction” but the lack of regulation and transparency “makes it a bit difficult to gather and validate the information we have access to”.
She informed that Luno has about 12 exchanges in Nigeria and “we also have global investors that do not necessarily have exchanges but are funding local exchanges. This is also helping to expand the market and increase adoption.”
She said there are different players in the market and “they don’t always share information on user activity, which is why we are calling for more adequate regulation. With adequate regulation, it would be easier to have access to information on the current value and volume of cryptocurrency transaction in Nigeria”.
According to her exchanges like Luno, which provides an easy and safe way for Nigerians to satisfy their interest in cryptocurrencies have contributed to the adoption of cryptocurrency, as the company has held various workshops throughout Africa to raise understanding around cryptocurrencies.