Paxful, a Peer to Peer Bitcoin marketplace played host to Blockchain and Tech experts, on
Wednesday, October 9, 2019, at Maryland to discuss the status of BlockChain technology and number of factors that play roles in influencing Bitcoin penetration and acceptance, both at business and individual level, such as trust, perceived risk, security threat, perceived benefit, perceived ease of use, as well as macro-technological and socioeconomic factors.
Bitcoin analyst, Femi Daramola highlights the possible reasons why some businessmen might still be reluctant to accept bitcoin as a means of transaction in the money market. He identifies the high volatility of bitcoin as a challenge to itself.
“Volatility in Bitcoin does not yet have a generally accepted index since cryptocurrency as an asset class is still in its nascent stages, but we do know that Bitcoin is capable of volatility in the form of 10x changes in price versus the U.S. dollar, in a relatively short period of time.”
Femi stated that the main challenged in the use of Bitcoin is the class of uses who sees Krypto currency as a means of storage of value rather than means of transaction.
“These people buy bitcoins, hoard them with the intention of gaining a huge exchange return in my years to come.”
No doubt that bitcoin is the safest and most reliable conversion of physical currency
According to Femi, most bitcoin users are wary of merchants who exchange the coin for money.
One of the best things about paying with bitcoin is that you don’t need to give up as much personal information as other online credit merchants.
On the issue of security, he said that the issue of security has been a fundamental one for bitcoin since its development.
“On one hand, bitcoin itself is very difficult to hack, and that is largely due to the blockchain technology which supports it. As blockchain is constantly being reviewed by bitcoin users, hacks are unlikely.”, he said.
Anthony Oneya, Google expert who also graced the session speaks on the need to use bitcoin as a means to get designated services.
He proposed the use of bitcoin as a means of exchange to some online services or transaction that is patronized by the demography of online users that engage in digital or online payment.
Blockchain expert, Uri speaks on the need to simplify the information and use, so as to give prospective users a sense of confidence and reliability.
According to her, “this will build the required trust for the blockchain system. If you use bitcoin, you are trusting your money to a complex system you don’t understand, people you know nothing about, and an environment where you have no legal recourse. Consistent campaign and information dissemination will help quell the apprehension.”
Zenith Bank Refunds N3.23m To Angry Customer Chiamaka Agim
A leading Nigerian commercial bank, Zenith Bank has returned N3.23 million to Chiamaka Agim, a Lagos State resident whose N4.039 million was erroneously deducted on January 9.
According to reports, Zenith Bank had previously informed Agim that she would only receive N800,500 of the N4,039,900 that had been debited.
But on Monday, January 16, in the evening, the bank sent back N3,239,400.
Recently, the Zenith Bank client shared a post about the refund on her Twitter page.
Agim reported that on that Monday, the bank contacted her to provide an update on the refunded money.
“After the event, they had to put my account on pause, so I didn’t get any alerts,” the user said. I was told to visit the bank the next day,” she recalled.
“They had credited my account with N3,239,400 around 7.30 pm on Monday,” the customer said. “My account statement was printed when I got to the bank.”
She claimed to have discovered that Access, one of the two banks to which the funds were transferred, still held the remaining N800,500.
Zenith Bank stated that Access Bank is now withholding the funds and that it is not their fault at this time. They said Access Bank stated that the funds would not be released without a court order.
Primate Ayodele Begins 17 Days Of Appreciation & Philanthropic Impacts, Visits Sick People
The Leader Of INRI Evangelical Spiritual Church, Primate Elijah Ayodele has kicked-off a 17-day appreciation and philanthropic impact on Sunday, 29th Of January till Tuesday, 14th Of February, 2023.
Many of his church members had a first-hand experience of the prophet’s philanthropic impact yesterday, Sunday, which marked the beginning of the programme. A good number of youths in the church choir were empowered, surgery fee was paid for 25 people, accommodation fee was paid for 20 people and every member of the congregation were given food items.
Today, Monday, which is the second day, Primate Ayodele visited old and sick people in Lagos communities with money, food items, clothing materials, and many more. He also prayed with them and settled some of their needs.
The old people couldn’t hold their joy as they passionately hugged the prophet and showered prayers on him for his rare philanthropic act. The very jovial prophet was also seen cracking jokes and playing with some of them just to lighten up their moods.
Till February 14, Primate Ayodele will be visiting several places, institutions, organizations to show gratitude and impact people with cash gifts, prayers, words of encouragement, food items, to mention but a few.
This is not the first time Primate Ayodele will be engaging in such philanthropic acts; every 14th of February is a day dedicated for his annual thanksgiving and it has been his culture to engage in massive philanthropic acts on days preceding the D-day.
Every February 14 for Primate Ayodele is always the mother of all empowerment. In recent years, the man of God has given out cars, tricycles, thousands of GCE/JAMB forms, scholarships, accommodation fees, school fees, sewing machines, beds, food items, among a host of many others.
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