By: Otumawen Precious Enang
I am Precious Enang, although most people know me as Otumawen Precious. I am a blockchain content writer and a Bitcoin enthusiast.
I save, invest, hold, and earn in Bitcoin.
Bitcoin has shaped the way I see and value money since the first time I transacted with it. Well, this is not how my story has been all my life.
I am blockchain content writer and community manager that hails from Cross River State, Nigeria. I am also a 400 Level Student of Health Information Management at the University of Calabar Teaching Hospital at the time of this article.
Growing up in a small town in a family of four in an African home with an unstable economy has been more of an adventure --- a journey of survival and growth than just living through the luxury of life and health.
I heard about blockchain technology in 2016 but had very little knowledge about the space at first. After listening to several crypto enthusiasts talk about the technology whose stories were mostly seasoned with buying and holding the currency for its value---- versus the other niches---- one can get embedded in.
In 2021, I was reintroduced into the blockchain space by a friend and I picked content writing as a niche.
I had been a poet for over a decade so venturing into content writing was easy for me. I started doing more research, learning, and understanding the technology and was able to curate blockchain-related content. Since my encounter with the blockchain, I've worked with several crypto communities and platforms like Grindearn, Ginakev Digital Academy (GIDA), Kucoin S Creators, Huobi, and a few others creating content for educational purposes, to spread more adoption and build a more crypto-friendly and knowledgeable society.
One of the problems facing Africa is the need to combat inflation, which has reached decade-high levels. This problem has brought an abrupt increase in global commodity prices, currency rate fluctuations, and disruptions in the global supply chain.
With this in view, the Introduction of Bitcoin and blockchain technology has been like a Messiah to the continent.
As a blockchain content writer, I've been dedicated to the responsibility of creating educational content, articles, news, and social media posts to ensure there's more knowledge and adoption of this technology.
Being a Bitcoin enthusiast has helped me realize the lapses the African financial economy is facing including centralization, scalability, and security.
Bitcoin transactions are fast and scalable, the technology is decentralized and there is a high level of security and privacy for every transaction made. These major features have been a driving force for me to own and hold Bitcoin.
With every emerging government administration in Nigeria, their policies and regulations have brought so much hope to the Nigerian citizens. Hopes to fix poverty, increase employment, equate cost and standard of living, and provide basic infrastructure but these hopes get washed down the drain as the leadership proceeds with unmet promises. The Nigerian President, Muhammadu Buhari was enthusiastic about his plans to secure Nigeria and deal with its socioeconomic problems.
Yet, the socioeconomic situation in Nigeria has gotten worse.
The Fiscal Responsibility Act of 2007 calls for budget deficits to be no more than 3% of GDP, but they have now risen to about 5% of GDP. The act was designed to guarantee long-term macroeconomic stability and careful management of the Nigeria's financial resources. The degradation in the socioeconomic situation has also led to a severe hike in the unemployment ratio, crime rate, poverty, loss of lives, and property. Bitcoin can offer a unique solution to many problems such as poor banking infrastructure, a lack of confidence in currency valuation, and restrictions on transactions between two or more countries.
How can Bitcoin solve this?
Since the inception of Bitcoin, there are many Nigerians who have adopted this monetary innovation and are also building startups and other tech solutions to fix the problems in their local communities. I can attest to the fact that Bitcoin is the future and the solution to many of the challenges we face in Nigeria.
As a new member of the Bitcoin in Africa Show team, I look forward to contributing information related to Bitcoin adoption that will lead our beloved continent, country, and community to become a better place for us all.