Paynownow boss, Nicholas Nome shares insight on utilities services, crypto

The founder and Chief Executive Officer of Paynownow Technologies Group, a leading utilities service platform, Nicholas Nome, has declared that the next generation of financial system is Utilities Services and cryptocurrency.

Nome stated that Nigerians should not be left behind by engaging with global currency such as Bitcoin that can help boost economies and create jobs.

The first decentralised cryptocurrency, bitcoin, was created in 2009 by presumably pseudonymous developer Satoshi Nakamoto. In April 2011, Namecoin was created and in October 2011, Litecoin was released.

The most popular cryptocurrency transacted in Nigeria is Bitcoin, but others like Dogecoin and Ethereum are also dominant while more cryptocurrencies continue to be created from time to time.

Many youths in Nigeria have found transactions in cryptocurrencies profitable and rewarding, thus increasing its popularity.

Nicholas Nome said cryptocurrencies provide a strong digital alternative to fiat currencies and allow entrepreneurs and businesses to process transactions without any interruptions.

“The future is here, the advent of crypto as well as blockchain technology, in general, will disrupt traditional banking, including central banking, in ways that we haven’t yet dreamed of.

“There are many factors that contribute to crypto’s mass adoption in Nigeria, the biggest being the Nigerian youth’s intense drive and business aptitude. Entrepreneurship is baked into their DNA, and they are leading the whole continent into a financial golden age.

“It is only good for many people who are still doubting this innovation to be educated and join the train,” he added.

Nome further said Blockchain technology has presented a number of different opportunities for Nigerians trying to diversify their income streams and protect themselves from economic downturns, despite poverty, inflation, and unemployment levels at all-time highs, and with COVID-19 as an added threat.

“Crypto will continue to flourish in the country as Nigerians always find a way,” he said.

Paynownow has grown from what started as an idea to a team of over 30 employees within its Headquarters in Lagos, changing lives and creating self-made millionaires—all with their trading strategies.