Post
Topic
Board Economics
Merits 1 from 1 user
Re: Will Africa be a good place for crypto?
by
Lighthouze
on 15/10/2018, 14:54:16 UTC
⭐ Merited by Sifon (1)
M-Pesa has nothing to do with cryptos and bitcoin, and the whole " Countries in Africa adopting cryptos" is such an overhyped theme people are getting bored of it.

It's been years since everybody was claiming each damn 3 world country be it from Asia or Africa, from Philipinne to Zimbabwe, Kenya to Vietnam will bring the new revolution and when articles like this came out some are still surprised about how reality, not hype works.

For god's sake, there are countries there where the illiteracy rate is above 60%!!! , we should talk about adopting an ABC not BTC.

I think I differ slightly on this stand. Africa might be a bit backwards in terms of the literacy levels, but it's still not left far behind in terms of technology and advancements. There seems to be a lot of focus on the cryptocurrencies which are the offshoots of the blockchain technology, this governments of these African countries and other developed countries for that matter are against.

But the blockchain techonology is gradually finding it's way into the reins of these countries. A country like Nigeria, where corruption is widespread, the country's Customs Agency is considering the application of blockchain technology in collection of imports duties, et al.
http://africanleadership.co.uk/nigeria-customs-service-adopts-oracle-blockchain-cloud-service/
So I won't be quick to right off Africa as a hub. There's significant progress made and with time, there will be more adoption around here. A lot of people are involved in crypto in these countries despite their government frowning at it, and the numbers are increasing