But China and Iran are not democratic nations. And he has less than 2 years. If Iran has the power and will, and hoe come they have routinely fail to stop those sabotaging their infrastructure. I think China is the only one with that unique capability right now.
Body parts? That's playing around with press machines. Panels are so basic. Suspensions, coiling steel. Could you call any of the above serious manufacturing?
But there may be cases where cryptocurrencies have some edge: transparency, speed and reach. Few days ago someone in India opened a contract to raise fund for covid ravaged cities. It is easy to see the amount contributed and by who. If that guy had opened a special bank account, nobody would know the amount collected except what he declares. Crypto kings all over the world emptied their wallets, I don't think such would have been possible under normal transfer systems. With cryptocurrencies the recipients don't pay any charges. But in some countries you may pay up to 50usd for every 1000usd.
I was thinking that India wants to be the new China in tech and manufacturing, this path would not get them there. Capital control would be history soon. Fiscal barriers may not allow innovation to blossom.
Sure, CBN 101. But investment 101 is different,you try to beat inflation. Here, inflation destroys your currency value. Note that inflation in Nigeria is driven by foreign currency exchange rates and not interest rates.
There is another angle to this foreign currency based remittances which support foreign exchange rates were at lowest in 6 years. CBN has stopped most companies that remit directly to Naira based accounts. Their view is that such companies are using cryptocurrencies which do not have ripple effect in their foreign currency markets.