The stream for the ALGO cryptocurrency has been in a downward spiral since its November 2021 peak. The all-time high of $3 was reached on November 18. However, with collaboration with the Nigerian Federal Authorities and the Mental Property (IP) Change Market and Pocket, there might because that the value of this altcoin will spike sometime soon.
If you are looking to buy Algorand before the large rise in price, read our cryptocurrency information to get started.
Nigerian Federal Authorities Collaborate With Algorand
The Nigerian Federal and Algorand have created a three-year agreement to create a cryptocurrency, developing it through the Partnership with Koibanx and Growing Africa Group.
The Growing Africa Group has the ability to create and trade IP rights in their own wallets, which Nigerians can then add all types of IP rights for sale using blockchain technology.
Using Koinbanx, the Growing Africa Group wants to create homes for refugees and vulnerable people across African countries via a scalable platform.
It was announced on the Fred Estante Twitter page and co-hosted by Koibanx.
The Central Bank of Nigeria updated its regulations in 2021 to restrict the buying and selling of any type of cryptocurrency. However, this has not prevented the new regulations from being enforced by the Securities and Change Fee.
As adoption of crypto in Latin America and Africa increases, so does their delegation to find ways to bring their projects together. To do this, a plan was developed by Koinbanx, FG, Developing Africa Group, and Algorand. This initiative speaks to 2 significant details the trade has assumed since its start. Crypto adoption is declining in these regions at a high rate, but it is also increasing quickly due to social-economic circumstances shared by both regions.
Today’s governments need to be different and work towards clear legislation to protect their citizens. This extra-legal protection will reap financial benefits in the future by reducing corruption and encouraging investment.
There is a 40% drop in Algorand’s worth and it is not yet clear if their proposals will bear fruit, but their partnership with FIFA and their NFT tokens seems to put them at an ideal place for revival.
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Developing Africa Group (DAG), Algorand & Koibanx
Developing Africa Group provides a commercialization service to African citizens, enabling them to register and commercialize their IPR. In addition to this, they offer training courses designed to teach citizens the basics of trade services. This company is based in the UK and works across all African countries.
Algorand is a blockchain infrastructure that enables organizations to quickly move from traditional, centralized systems to modern platforms. Founded by Silvio Micali, Algorand’s public and open source technology handles the volume of transactions needed for financial institutions and governments.
Koibanx is the leading blockchain company in Latin America, providing payment and asset tokenization services to banking and financial sector clients. With its platform, clients’ infrastructures are secured, more agile, and profitable for payments. Thus, being able to reach new market segments.
Where to buy ALGO?
You can buy ALGO cryptocurrency on top exchanges, such as ZT, Binance, OKEx, CoinTiger, eToro & HitBTC. However, crypto assets are a very risky investment product. Invest your money securely and be aware of the risks.
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Source: https://insidebitcoins.com/news/big-win-for-algorand-crypto-in-nigeria-on-ip-exchange-and-wallet-where-to-buy-algo