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If Merchants Were Builders of the Onchain Economy
The markets buzzed with the hum of ambition. Streets lined with kiosks and workshops spilled over with goods, chatter, and the distinct rhythm of trade that fueled entire communities. Here, in the bustling heart of Nigeria's local economy, merchants were more than sellers, they were the architects of livelihoods, weaving together the threads of commerce into something greater. But what if these merchants, with their intricate networks and unyielding drive, became builders of the onchain economy? What if platforms like Onboard turned their transactions into the foundation of a new financial world?
Obi, a tailor renowned for her colorful ankara designs, stood at the cusp of transformation. For years, she struggled against the tide of inefficiencies; high transaction fees that ate into her profit, unpredictable currency fluctuations, and the bureaucratic hurdles of expanding beyond her Lagos neighborhood. But today, something had changed. Her latest sale wasn’t paid in naira or dollar bills. It was settled through a stablecoin transaction on Onboard.
The process was seamless, as though it had always been this simple. Her customer, a boutique owner in Kenya, paid her in seconds, bypassing the delays of bank transfers. Obi’s account reflected the amount in her digital wallet, and with a few taps, she could convert it to cash, store it for future purchases, or use her USD card to order new materials from China.
Obi wasn’t the only one. Across town, Ade, a supplier of fresh produce, had begun accepting stablecoins for his bulk sales. At first, his colleagues had laughed at him. “Crypto? That’s for tech bros,” they teased. But when he showed them the savings he’d made by eliminating transaction fees and the speed with which he paid his transport partners, they stopped laughing. Instead, they started asking how they could use Onboard too.
As Obi and Ade adopted Onboard, they became champions of the technology. Their peers took notice, not just because of the technology itself, but because it worked. Skepticism gave way to curiosity, then to trust. Conversations in market stalls shifted from “What is crypto?” to “How do I sign up?”
With every transaction, the ripple effect grew. Stablecoins began circulating widely, boosting liquidity in the onchain economy. Merchants like Obi demanded more than just payment tools. They needed blockchain-based invoicing systems, payroll solutions, and supply chain integrations. Developers took note, answering these calls with innovation, creating tools that would further embed blockchain into daily life.
Months later, Obi received an inquiry from a buyer in London who discovered her work on a social platform. Using her Onboard account, she negotiated a deal, shipped her products, and received payment—all without the headaches of traditional banking. In that moment, Obi wasn’t just a tailor; she was a global entrepreneur, connected to markets she had once only dreamed of accessing.
The true genius of Onboard lay in its reliability. In regions where financial systems often faltered, trust was priceless. Onboard delivered cash-out speeds that rivaled traditional systems, USD cards that opened doors to international trade, and a network of merchants that grew stronger with every transaction.
Trust built loyalty. Loyalty created momentum. And as Onboard’s ecosystem expanded, it became self-sustaining. Merchants not only accepted stablecoins but began spending them too, fueling an economy that no longer relied solely on fiat.
One success story led to another. MSMEs, the backbone of Nigeria’s economy, became economic multipliers. The savings they made translated into hiring more staff, expanding operations, and reinvesting in their communities. Developers flocked to the scene, building smart contracts for supplier payments and loyalty programs for customers, further enhancing the ecosystem.
Years later, towns across Nigeria and beyond had become hubs of localized crypto ecosystems, where stablecoins served as the primary mode of commerce. MSMEs linked to peers worldwide, forming decentralized trade networks that bypassed traditional financial barriers. Policymakers, unable to ignore the economic impact, shifted their stances, embracing the onchain economy as a force for growth and innovation.
Obi, once a small tailor in Lagos, looked out over her growing workshop with pride. The tools of her trade had evolved, but her entrepreneurial spirit remained the same. She was no longer just a merchant. She was a builder of the onchain economy, part of a global movement reshaping the financial fabric of the world—one transaction at a time.
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catch you on the decentralized side!!
Nancy Muorah
