eNaira Set for Boost as CBN Partners with Blockchain Firm Gluwa
eNaira Set for Boost as CBN Partners with Blockchain Firm Gluwa. Nigerians can expect a more user-friendly and accessible eNaira as the Central Bank of Nigeria (CBN) joins forces with blockchain firm Gluwa. This exciting partnership aims to leverage the power of blockchain technology to unlock the full potential of Nigeria’s digital currency.
eNaira Set for Boost as CBN Partners with Blockchain Firm Gluwa
The collaboration focuses on several key areas:
- Reaching new users: Gluwa’s Credal technology will play a key role in bringing more Nigerians into the financial system. By establishing a credit reputation system on the blockchain, even those without a traditional bank account could benefit from eNaira’s features.
- Enhanced functionality: The partnership promises to develop new functionalities for the eNaira, making it more attractive for everyday use. This could involve faster transactions, more convenient features, and wider merchant acceptance.
- Innovation through collaboration: The CBN and Gluwa aim to foster a wave of financial innovation built on the eNaira platform. This could lead to new financial products and services tailored to the needs of Nigerians.
This MoU is a positive step towards the wider adoption of eNaira. By harnessing the potential of blockchain technology, the CBN and Gluwa are working to make eNaira a dependable and meaningful digital currency for all Nigerians.
Also, Credal integration with CBN’s eNaira is about leveraging blockchain technology to address a key challenge hindering eNaira adoption.
In simpler terms, Gluwa provides the technological foundation (blockchain) while Credal offers the specific application (credit scoring) that benefits eNaira users. Their combined efforts aim to make eNaira more accessible and trustworthy.
Read: How to Make eNaira More Popular in the Informal Sector
