As Nigeria works to introduce blockchain regulation, US lags behind On Kindly Share This Story: When it comes to cryptocurrencies, there’s often a tendency to focus on their price and speculative nature. However, the price curtain is an emerging, innovative, and rapidly growing industry. A report by PWC, a global consulting firm, estimates that the blockchain industry could boost global GDP by $1.76 trillion over the next ten years. To have that level of economic impact, the industry needs a clear regulatory framework. Take Nigeria, for example. The country is a global leader when it comes to cryptocurrency adoption. High bitcoin and crypto ownership rates, rapidly growing peer-to-peer volumes, and active retail remittance market all tell the same story. Driven by economic and political instability, as well as the history of rampant inflation, many Nigerians have moved their money into Bitcoin over recent years. Cross-border payments are another area where cryptocurrencies can address longstanding difficulties in Africa.