Quote from: MikeCorleone on April 12, 2015, 07:50:41 PM

Quote from: QuestionAuthority on April 12, 2015, 07:47:48 PM

Quote from: Kprawn on April 12, 2015, 07:32:08 PM

I think they still do.... M-pesa rely on centralized telecommunication services and a central point of failure. Bitcoin is a much better alternative and more transparent for corruption and bribes, that are common in areas in Africa.

Would they leapfrog the traditional banking system..? Well at first I thought so....but I reckon, they still need to convert to fiat for most things, with limited merchants accepting Bitcoin now... So for a while... they would have to rely on some banking functions, until more merchants accept Bitcoin.

Um, what? The only electronics device these people own is a cheap cell phone. They have little to no infrastructure. No cable TV, Internet, paved roads - hell, in some places they don't even have electricity or running water but they do have a shitload of cell towers. If cell services are down how exactly is Bitcoin supposed to work?

This is 100 % correct. I have a friend who lives in Tanzania and another in the DRC. They laugh at the idea of Bitcoin getting any sort of foothold in Africa for the next 10 to 15 years.

Yeah, I was in the peace corp in Africa. Most people don't realize how fucked Africa really is until they go there. Sure, there are big modern cities but they are few and far between. Leaving a big city and driving to the next small town isn't like driving to a first world small town. It's like driving off the face of the earth and ending up on Mars.