Post
Topic
Board Bitcoin Discussion
Re: Bitcoin may be the solution to Africa's broken financial system.
by
nicecrypto
on 02/06/2020, 13:29:15 UTC
A recent report says that being a lack of traditional financial of Africa makes it good for cryptocurrency adoption.

Per the report, cryptocurrencies such as Bitcoin (BTC) can potentially solve all the aforementioned challenges

Quote
Although it is a diverse region, African nations share some key similarities and trends. Economic problems, from high inflation rates and volatile currencies to financial issues such as capital controls and a lack of banking infrastructure, create a fertile ground for an alternative to germinate.

Source: https://cointelegraph.com/news/bitcoin-may-be-the-solution-to-africas-broken-financial-system/amp

Do you agree that bitcoin would be a good idea for Africa?for me, adoption of bitcoin from Africa is a good idea, Africa has a big problem in terms of financial, they should do something to overcome those problems, one of the suggested ways is the use of bitcoin which is a really good idea, there are already many countries which are accepting the use of cryptocurrency in some of their transactions, it is way good better for fast and secured transactions compared to fiat currency.


I think they should rephrase it and put that it will be good for global adoption after all it is no longer Africa alone that is experiencing inflation and economic problem, an as for traditional financial system, it is not a problem from where I come from, we have enough traditional banks around to serve our financial needs,
Although the adoption of a digital currency won't be a bad idea but I don't think it will be btc because of it's high volatility, if they want to solve the financial problem they should use a more stable coin for a digital currency.