In Africa, cryptocurrencies and blockchain technologies will help fight unemployment

Nigerian presidential candidate Adewole Adebayo has promised to use blockchain technologies and cryptocurrencies to fight unemployment in the country, as he plans to create up to 30 million jobs.

According to the candidate of the Social Democratic Party, if he wins the presidential election, Adebayo and his associates will start cooperating with 2000 local cryptocurrency companies. Thanks to their digital products, 10 to 30 million people will be employed.

According to a study conducted by the KuCoin crypto exchange in April, 35% of Nigerians aged 18 to 60 have owned or traded digital assets in the past six months. «The survey showed that women account for 50% of crypto investors, on par with men. The distribution of reasons for investing shows that 53% of investors consider cryptocurrencies to be a reliable means of storing funds,» the exchange representatives summarized.

The interest in digital assets is due to the high inflation rate in the country, which exceeded 20%, reaching a 17-year high. Residents of the country are investing in cryptocurrencies, hoping to preserve and increase their savings. That is why at the end of August, Nigeria was ranked first in the search for cryptocurrency information on Google. Statistics show that the most searched queries in Nigeria were «cryptocurrency,» «invest in cryptocurrency,» and «buy cryptocurrency.»