Africa Will be the Proving Ground for Cryptocurrency

missioncrypto (48)in #bitcoin • 7 years ago

Africa. The poorest continent on earth. Africa may be poor, but its set to be the next economic boom, the next 'China' or India. In fact we're already seeing countries like Ethiopia and Nigeria get huge investment and hope from venture capital firms. Therefore Africa will be the proving ground for crypto.

Cryptocurrency purports to be so much, but if the poorest people and the unbanked can't use it then why does it exist. Bitcoin promises to offer decentralisation and ownership of money, and in Africa it must prove it. That's why announcements like Ethiopias partnership with Cardano is so enlightening. These countries could benefit the most from blockchain and the revolution behind it.

To these countries blockchain is no joke, its a new way of thinking that can offer the people ownership, legality and legislation. These things seem trivial in a highly legislated western world, but in a place where ownership is simply passed by word of mouth, blockchain offers stability like never before. If you've paid for your house with BTC its on record, if you paid with cash and you leave for a week, who's to argue with the people living there when you come back.

This technology offers so much and therefore if it doesn't work in Africa why should it work anywhere else? It needs to work there in order to prove itself, prove it truly is for the people, prove its decentralised! In this way we must watch blockchain in Africa like a hawk, and hope the technology speaks for itself...

If you liked this check out my article on buying Bitcoin without a Bank Account: https://steemit.com/cryptocurrency/@missioncrypto/buying-bitcoin-without-a-bank-account-howe-btc-could-save-the-world-s-unbanked-population-blockchain-future-ep-1-bitcoin-usdbtc