Nigeria Building Bitcoin Village

It seems Nigeria is creating its own answer to El Salvador’s Bitcoin Beach with their own “Bitcoin Village”.

Satoshis Journal founders Jeremy Garcia and Oluwasegun Kosemani of Satoshis Journal are working to build the first-ever Bitcoin Village in Lagos, Nigeria. They plan to power it with solar energy, mine Bitcoin onsite, educate the local community on Bitcoin and create a synergy of Bitcoin Core development with a STEM lab.

This won’t be the typical village that you see in Africa, entrenched in steamy jungles with no internet connection — this place is going to create a new economy in Nigeria using Bitcoin.

Nigeria has had its fair share of fear, uncertainty and doubt in regards to Bitcoin, whether this has come in the form of a government ban on cryptocurrency activity or in competition with the nation’s CBDC, the eNaira, which brings more challenges in establishing government-led adoption.

But this has not stopped Nigerians who see Bitcoin’s benefit in their daily lives. And creating a circular economy on a bitcoin standard could start with this Bitcoin Village in West Africa.

In a promotional video, Kosemani, who is breaking ground on the site, states, “We’re going to open up a Bitcoin village in Lagos, Nigeria. You would come here, spend your bitcoins, buy fish from the local fishermen, buy items from locals directly using the lightning network, and all that.”

A domestic water well and solar panels will allow continuous running water throughout the village and a boundless supply of energy to power the school, mining equipment, street lights and a hospital. The property is on private land in the heart of the financial metropolis of Lagos.


Master Asked on August 9, 2022 in Bitcoin.
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