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What is Bitcoin? Bitcoin is a cryptocurrency and a digital payment system invented by an unknown programmer, or a group of programmers, under the name Satoshi Nakamoto. It was released as open-source software in 2009.
The system is peer-to-peer, and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes and recorded in a public distributed ledger called a blockchain. Since the system works without a central repository or single administrator, bitcoin is called the first decentralized digital currency.
Besides being created as a reward for mining, bitcoin can be exchanged for other currencies, products, and services in legal or black markets.
Bitcoins in its pure essence is money. It is digital currency that serves the same functions and pu…

Big Brother Nigeria Housemates Participate in Bitcoin Quiz, Get $500 BTC as Reward

Eighteen housemates of Nigeria’s version of Big Brother took part in a bitcoin quiz with each participant getting $500 worth of BTC as prize money. Big Brother Naija (BBN) reportedly agreed to this unusual step as part of moves to offer more than just entertainment to its audience.

As part of BBN’s in-house quiz segment tasks last week, housemates took part in activities that tested their knowledge of cryptocurrencies. Housemates had to tell the audience some of the use cases for bitcoin such as airtime top-up and online payments. Additionally, housemates had to participate in a challenge to create original radio jingles.

According to one media report, “housemates had to answer questions like what is a bitcoin wallet? or how is the price of bitcoin determined?” Housemates had to name the top five leading cryptocurrencies as well. Finally, the housemates were made to draw sketches that “depict a bitcoin wallet.”

BBN Season 5, Bitcoin episode.

After declaring all housemates winners, the segment sponsor Patricia, a cryptocurrency exchange that operates in Nigeria and Ghaha, gave each participant a card loaded $500 BTC.

BBN’s excursion into cryptocurrency in partnership with Patricia, represents an important step in Nigerian efforts to increase awareness. The country is already Africa’s single biggest cryptocurrency market whose traded volumes dwarfs that of the nearest rival. As data from peer to peer trading platforms shows, Africa’s most populous country accounts for more than 50% of traded volumes.

Meanwhile, some observers in Nigeria believe the use of BBN, the biggest reality TV show in Nigeria, to woo new users is a masterstroke.

Senator Ihenyen, a lawyer and General Secretary with the Stakeholders in the Blockchain Technology Association of Nigeria (SIBAN), is one of those who share this belief.

BBN Season 5, Bitcoin episode.

Ihenyen starts by pointing to BBN’s massive reach as one of the reasons he is optimistic about the potential effect of the bitcoin quiz. In the past season, the BBN show garnered a total 240 million votes and 50 million of those came in the final week alone.

In his comments on the BBN show’s impressive numbers, Ihenyen also reveals that “at the heart of Big Brother Nigeria is the youth— Nigeria’s army of youths running into tens of millions.”

He adds that it is “a show that greatly appeals to millions of young people in Nigeria. There is no doubt that the cryptocurrency quiz would make those who didn’t know anything about cryptocurrencies to become inquisitive. I see Google search for bitcoin in Nigeria increasing.”

Ihenyen also commends the quiz sponsor, Patricia for taking an unusual approach in its campaign to bring bitcoin to the masses. He says:

Definitely, the Big Brother Nigeria quiz contest will boost cryptocurrency awareness and adoption in and outside Nigeria. Especially when one considers that mainstream media rarely air programs or shows about cryptocurrencies, the approach adopted by Patricia, the obvious sponsor of the quiz competition, was simply brilliant. It did not only help put its brand in the face of millions of viewers but also helped boost crypto awareness amongst viewers. This will definitely impact adoption.

Finally, Ihenyen says he imagines that “these contestants might end up boosting cryptocurrency adoption more by getting involved in some form of cryptocurrency activities.”

What do you think about the quiz move by BBN? Share your thoughts in the comments section below.

The post Big Brother Nigeria Housemates Participate in Bitcoin Quiz, Get $500 BTC as Reward appeared first on Bitcoin News.



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