Management of the Federal Teaching Hospital in Gombe State has announced a ban on mining and cryptocurrency trading during work hours, citing numerous complaints from patients and their relatives.
The management said that it had noticed that the new trend is distracting workers from attending to patients.
An internal circular by the hospital stated that staff have the right to engage in other activities when they are not on duty
In the internal memo signed by Adamu Usman Tela, Deputy Director, Administration on Wednesday, the hospital management warned staff members to “desist from mining and all forms of related crypto trading activities while working.”
The directive follows reports that such activities are “distracting staff members from performing their primary assignment while at their duty post.”
To enforce this ban, the management has indicated it will take “drastic action in accordance with Public Service Rule against any staff that is caught engaging in such trading while working.”
In addition, the management said it had deployed SERVICOM (Service Compact with All Nigerians), ACTU (Anti- Corruption and Transparency Unit), and security officers to monitor compliance with these new directives. It advised all staff members to “face their duty diligently and with all seriousness.”
The memo reads, “I am directed to caution all Members of staff to desist from mining and all forms of related crypto trading activities while working.
“The warning became necessary due to series of complaints received from patients and their relatives on how the trading activities distract staff members from performing their primary assignment while at their duty post.”
The tap-to-earn crypto trend is widespread among many Nigerians, especially students in secondary schools and universities, corporate and commercial drivers, civil servants, labourers, housewives, and even beggars, who are fervently tapping away on their devices, largely oblivious to events around them.
Why are they tapping?
“One of the biggest challenges Web3 and crypto have is onboarding new persons into the Web3 space.
“Remember Piggyvest. If I invite you to Piggyvest, I get N1000. This tapping is basically how new people are onboarded in Web3,” Chi Ofoegbu, a freelance Product Marketing Manager for crypto projects and Web3 enthusiast told PUNCH during an interview in May.
Web3, also referred to as Web 3.0, represents a new generation of the World Wide Web, characterised by decentralisation, blockchain technology, and token-based economics.
Stephen Ajiboye, a Web3 educator and Digital Marketer for GeorgeneKoko, an over-the-counter crypto firm based in Akure, Ondo State, said Web3 shared similarities with the dot-com bubble in its potential for transformative impact.
The dot-com boom, or internet bubble, was a period of swift expansion in the late 1990s and early 2000s, marked by intense interest from venture capitalists and traditional investors in internet-related tech companies.
“The normal internet we use now is referred to as Web2. For blockchain-based technology, it is referred to as Web3. Many believe that Web3 is the next big thing,” he said.
Ofoegbu explained the tapping phenomenon, “Most of the tapping involves inviting somebody and tapping on your screen. It is to get new users and see how much their system can take. It is rewarding people to invite other people.
“These platforms have realised it is the cheapest way to get new users and get them to invite their friend and also reward them for participating and inviting their friend,” Ofoegbu said.
Many Nigerians profited from the Notcoin airdrop campaign by engaging in Telegram gaming activities, thereby increasing their crypto holdings.
As of May 20, 2024, Bitcoin.com reports that over 102 billion NOT tokens exist on the TON chain, valued at $0.00568 per unit, resulting in a market capitalisation of $574 million. According to Bitcoin.com. miners received 78% of the total supply.
Ajiboye said, “It’s an airdrop. Most projects that build in the crypto space, they build a community to amplify your project like a sort of free marketing for you. The reward that they give back to the community is something called airdrop. The reward comes in the form of the token that the particular project is using.”
An airdrop is a marketing tactic used by cryptocurrency projects to distribute free tokens or coins to a large number of wallet addresses, often to promote awareness, drive adoption, and build a community
According to Daily Coin, a website that focuses on cryptocurrency and blockchain-related news, following the introduction of Telegram Mini Apps, simple crypto apps have attracted a substantial user base.
The enthusiasts are already looking forward to September 26, 2024, when Hamster Kombat, one of the platforms, is set for its airdrop.
The airdrop event is touted as the biggest in crypto history due to the size of its community. Hamster Kombat boasts a player base of over 300 million global participants, making it the largest play-to-earn crypto project in the industry at the moment.
Binance, the world’s largest cryptocurrency exchange, has officially announced its listing of Hamster Kombat tokens on its platform and invited the project to join the Binance Launchpool.
The listing of the Hamster token on Binance, according to analysts, comes as a huge relief to millions of Hamster players worldwide who had concerns about whether the airdrop would proceed, given the community’s enormous size. Analysts believe that Binance’s invitation to the project to join its Launchpool gives users the opportunity to earn the new HMSTR token by staking their BNB.
Binance made the announcement via its official X (formerly Twitter) page, which has 13 million followers. The tweet garnered about 10,000 retweets and over 4,000 comments.
Mr. Solomon Amunde, a financial analyst, speaking on a Channel TV program monitored in Lagos, said the endorsement means Hamster will reward players for the time and data spent on the platform over the past six months or so.
Why the sudden boom?
Dailycoin reports that Notcoin’s high user engagement drew attention to clicker apps in general and prompted even Telegram founder Pavel Durov to praise it as a success story.
“The frenzy that came with Notcoin led to this going viral. Most of them might not have an idea about Web3 or crypto at all. They just know that someone is telling them to keep tapping this thing, accumulate points, and you will get money from there,” Ajiboye said.
In a statement on its official X account, Tapswap revealed that it has amassed 17 million users.
“17 million players in TapSwap!
“It’s unbelievable! If before we asked you to invite your friends, relatives, and acquaintances, now we ask you to invite only the closest ones,” the statement read.
Ajiboye credits the recent success of platforms like Tapcoin to their use of Telegram, stating, “The reason for this success is the platform. Telegram is similar to WhatsApp; if you can use WhatsApp or Facebook, using Telegram should be straightforward. It’s not like asking someone to download an entirely new app.”
He believes that the ease of using Telegram has attracted many users, especially compared to other mining projects that require separate applications but only attract a few million miners. “Some apps demand daily logins and quizzes to earn points, while with Telegram, you simply tap to earn,” he explained. “People likely heard that they could earn money just by tapping on Telegram and sought out similar platforms, which led them to Tapcoin. The success of Notcoin probably played a big role in boosting Tapswap’s popularity.”
Ofoegbu pointed out that the influx of late adopters is largely due to the social proof generated by Notcoin. “Early adopters are those who have been in crypto for a while, while late adopters join based on social influence. Many invited friends to join Notcoin, who initially dismissed it, but then saw those friends earning $200 to $1,000. This has motivated late adopters to explore other opportunities as well,” he noted.
Mining Bitcoin, the first decentralized cryptocurrency, is far more complex. “You need specialized hardware to mine Bitcoin. With advancements in blockchain technology, many projects now allow users to mine through their phones by completing simple social tasks like following on Twitter or joining Telegram groups,” Ajiboye added.
‘Not from trees’
Regarding the potential for earning money, Ajiboye expressed optimism but cautioned that having millions of points doesn’t guarantee a substantial payout. “When the project launches, they’ll set a conversion rate—perhaps 1,000 points for one token. So the number of points doesn’t directly translate to tokens,” he explained.
He also mentioned that once mining ends on the 30th, there could be weeks of verification before launching, including filtering out multiple accounts and click automation.
Ofoegbu, however, is less optimistic. “People only talk about successful airdrops, but many don’t deliver. With the current surge in interest, the rewards are shared among many, making them smaller compared to past airdrops when competition was less intense,” he cautioned.
He further clarified that the funding for airdrops isn’t free. “Airdrop funds come from a project’s user acquisition efforts. They present user numbers to venture capitalists to secure funding, which is then partially used for rewards. It’s not just money appearing from nowhere; it’s a strategic investment,” Ofoegbu stated.
Despite the financial motivations driving many Nigerians to these platforms, Ajiboye sees a positive trend in crypto education. “I believe that for many, if they can earn money just by tapping, they’ll want to learn more about cryptocurrency. This interest can help dispel the notion that crypto is a scam and broaden the understanding of Web3,” he said.
For Ofoegbu, this approach serves as an effective gateway into the crypto world. “When new users earn money, like those who benefited from Notcoin, they’re likely to seek more knowledge about the space,” he concluded.
