Adewole Adebayo is a notable contender for the presidency of Nigeria. Blockchain technology implementation and cryptocurrency trading are campaign promises made by Adebayo. In addition, for as many as 30 million Nigerians, Adebayo has promised to offer new employment opportunities.

The Use of Cryptography to Address the Issue

Adewole Adebayo is the Social Democratic Party’s (SDP) presidential candidate in Nigeria. In a recent televised appearance, he professed to address the problems of unemployment facing the country. He intends to do this via several technologies, including blockchain and digital currency.

The lawyer in his fifties pitched the concept to the National Chamber of Commerce and the US Black Chamber of Commerce. He has recently provided general advice to those who are members of these firms. He saw that these businesses produced many employment openings in several nations during the previous five years.

Adebayo said that he had been their advisor and that they had carried out similar actions in several other locations in the past. He went on to remark that he’s familiar with the potential realities that exist in his nation. Therefore, he intends to persuade them to relocate to Nigeria, where they can provide employment possibilities.

Over the last ten years, Nigeria’s unemployment rate has risen consistently. In 2022, it is anticipated to be close to 10%. However, Adebayo believes that his eventual administration would be able to collaborate with 2,000 indigenous crypto firms. He believes that this partnership will significantly lower the unemployment rate.

Adebayo stressed that they have discovered that they can create between 10 and 30 million employments by working with 2,000 enterprises.

Cryptocurrency Grabs the Attention of Nigerians

Adebayo could get more votes due to his participation in the Cryptocurrency business. This is due to community members who have previously expressed enthusiasm for the asset type.

In April, KuCoin performed research and made some predictions. In Nigeria, 33.4 million individuals, or 35% of those between 18 and 60, owned or exchanged digital assets. This number reflected the situation six months before the study’s start date. 

The study’s results indicate that the lack of sufficient opportunities based on fiat money in many parts of the country is the primary driver of the many adoptions.

The inflation rate in the country has risen beyond 20% for the first occasion in 17 years. As a result, many individuals in the nation have started investing in cryptocurrency and stablecoins. However, due to macroeconomic factors and the steep decrease in the value of the Nigerian naira, this is done to keep some of their money.

According to a new poll, Nigerians are most interested in cryptocurrencies. Locals in the area have searched for “buy the dip,” “invest in crypto,” and “purchase crypto.”