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technological advancement in nigeria

Technology is on the verge of a major breakthrough as scientists and developers all over the world are working on perfecting current technology. When you look at how far technology has come, you will find three distinct categories that are incredibly famous. 5G internet capabilities, cryptocurrency trade, and artificial intelligence. Not all of these are yet as influential in Nigeria; however, there are many ways in which technology is being used in Nigeria for its betterment. In a country with so many people that are looking to improve their standards of living, one of the key sectors that are utilizing technological advancements in the banking sector.

This sector is rapidly growing due to improvement in technology as it aims to provide banking facilities to the remaining 60% of the population. Currently, there are many tech firms, especially in the communications and Ecommerce departments, that are working in Nigeria.

5G internet capability in Nigeria 

Internet is one of the major requirements of the entire world. Very soon internet has found itself as a necessity to every single person, from staying updated to news and updates to checking up on friends and communicating. The internet has allowed people to achieve many great feats in Nigeria. Hence, taking into account this reason, it is no surprise that two companies in Nigeria have already got themselves licenses to provide 5G internet services in the country.

The interest of Nigerian Youth in CryptoCurrency         

Cryptocurrency is still something that is not approved in many countries all over the world. It is not regulated, and there is no way that ensure the safety of the people and their wealth. While at the same time, there are not many people that can be called educated when it comes to cryptocurrency. In similarity to the rest of the world, the success stories of crypto traders have influenced the youth to do the same. However, the Nigerian government is amongst those governments that are set in ensuring that crypto is officially banned. Towards the start of crypto trading, there was no such law or rule, which is why crypto trading was extremely easy. However, ever since February, the government has banned crypto while at the same time asking the banks to close accounts that are found in crypto dealings and activities.

How will artificial intelligence influence different sectors in Nigeria? 

When it comes to the influence of AI in Nigeria, it can be said that the government is looking forward to utilizing it in many different ways. From benefits to the economy where it will be able to smooth the process of partnering up with different industries to create positive outcomes. Regardless of the tech being in early development stages within the country, the policies are in place to use the technology as much as possible for effective application to different sectors such as business, economics, and even medicine.

 

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