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Nigeria Central Bank Set To Launch Digital Naira Currency (eNaira)

The Nigeria Apex bank - the Central Bank of Nigeria (CBN) has announced plans to launch a digital currency called eNaira or Central Bank Digital Currency (CBDC) by October 1, 2021. The digital currency will be operated on the Hyperledger Fabric Blockchain which is an open source project that serves as a foundation for developing blockchain-based products, solutions and applications. It uses plug-and-play components that are aimed for use within private enterprises. Is CBDC similar to popular Cyrptos Such as Bitcoin? The answer is no, they are different in many ways: CBN can approve or override CBDC transactions since it is in control of the infrastructure, it a direct liability of the central bank and serves as the issuing authority. In contrast, crypto is private money with no central authority. The CBDC will be backed by law to become a legal tender, whereas the cryptos are not legal tender. Unlike cryptos that operate via blockchain networks in a decentralized way, a CBDC is a state...

Importance of Digital Skills

Digital Skills are no longer only for graduates of IT, Computer science and relates courses. In today's world if you do not have any form of digital skill you'll be left at a permanent disadvantage in the near future! School vector created by pch.vector - www.freepik.com Virtually every job or task today is either fully done with computers and software applications or aided by it. Therefore, employers are looking for persons with one form of digital skill or the other. Even smaller businesses out there make use of some form of digital platforms for their trading. Examples of Digital Skills Few years it was all about being computer literate, that is the basics of digital skills. But today, in addition to being computer literate you will need some digital skills to be relevant like the following: 1. Social media marketing skills ( E.g. Facebook, Instagram, YouTube and Twitter marketing) 2. Digital marketing skills  (E.g. Email marketing) 3. Digital content creation (Graphic - vid...