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The world and transactions have something very related. Although it has been a humanly introduced way to settle negotiations on goods and services, I can say it has really taken a good hold on economic operations.
The rise of the Internet has even taken this to another pace. I always like talking about this specific advantage of the digital realms; ‘easy collapsing of products and services’ as regards the physical realm.
This has been the spice behind its rapid growth. I was doing a little research on FinTech companies and I must say, these institutions are money makers and the demand for them is getting higher and higher.
One should not underlook the future of finance. It is that big debate currently of a takeover or perhaps a new way to blend. cryptocurrency at its earliest state seemed like it was just a toy Tool until it started revolutionizing many industries. It has become big in such a way that big eyes can no longer ignore.
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It is part of a recent article I just read; how such big names who said they will never have anything to do with Bitcoin and cryptoverse in entirety are delving deeper into this ecosystem. Quoting the writer well, ‘not for the love of it but for what it has to offer’.
This is why many are buying into the ETFs, keep your Bitcoin, let's trend with the price. Here comes stablecoins to do even more disruption.
Trillions will be entering the digital space, many firms are preparing well to enter. I am not here to debate where the Fintech attention will be pushing to; whether the traditional banking system will dominate or the new waves. The take home here is, Fintech will explode.
I will be nationalizing this potential to fit where I am going in this article. It has been one of those eye watching events; one has to monitor how government decisions or projects will affect the entire economy.
At least we are not newbies to this as citizens, it has been one of those heating hits for a couple of years. One announcement and the entire economy enters a rollercoaster. If bad news as we assume produces economic impact, how about the good ones?
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Where am I going in this article? More literacy through NELFUND will drive the digital space, Fintech and tech in entirety. How many Nigerians are exposed to the internet, how many will be added in a couple of years? Without doubt, this country is one of the TOP users of internet space even as a ‘developing nation’; an English that is not resourcefully fitting.
One thing leads to another, this is why I keep expatiating more articles on NELFUND. First, at least so that many Nigerian youths could pick up the awareness and secondly, it helps me research more to my entrepreneurial benefit.
As I earlier said, Fintech is exploding and we stand a chance of benefiting big. How many people are unbanked in our country, how many will continue to be? Already, the criteria for getting these funds will mean linking your NIN (National Identity Number) and BVN (Bank Verification Number).
Yes, it means, you should own a bank account. How about having a mobile phone too and internet access? Something to still add up to the collection. In the end, we can say, financial services will be in high demand.
To conclude, let me add, The world has already proven to be a place of transactions with no slowing down. As we speak, what is just happening will move through the traditional banking system into the blockchain tech streams. With more youths gaining more exposure to financial grounds comes what I will call curiosity.
Venturing into the space of web3, DeFi and yes, the ecosystem of trading will increase. Don't doubt what exposure can do.
More Fintech companies will rise and the shares of the current ones will increase. commodities, goods and services are tied to it. ICT is taking the lead, it was even a criteria I read in a recent state news article about how a job portal that was open demanded every applicant must be ICT exposed. It is still a pointer to the needs that will continue to grow this industry
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