The Nigerian government under the administration of President Buhari launched her digital currency yesterday Monday 25th of October 2021.
Facts about the the E-naira
*E-naira will make trading easier and fast as it does not rely on cash.
*The E-naira is solemnly under the control of the Central Bank of Nigeria in conjunction with Bitt itnc.
*Also unlike other currency like Bitcoin, the E-naira does not fluctuate. This means that there's no change in price.
*The E-naira will Also have the same value as the Nigerian Naira.
*Phones without internet service will also have access to E-naira.
*Every individual will have their wallet just like a bank account.
*The process of opening the E-naira wallet is different from the process of opening a bank account.
*Every person is also going to have their different security codes.
*The E-naira is also designed to save more.
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will it be trustworthy like the other decentralized cryptocurrencies?
It should since it's the government regulating it.
No. The question itself is wrong because it is not decentralized, is it? A small number of entities can decide whether your transaction gets censored or not. It is a "permissioned" ledger. It's not like Bitcoin at all.
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This is big news. It's long term bad news, but big news. I think it will be free to use at first but eventually be used to tax the poorest.