Bitcoin Forum

With the advent of bitcoin anchored on blockchain technology, the world is obviously in the process of another revolution just like internet did. The immense benefits blockchain infrastructures offers can certainly help reduce alot of trust burden, reduce cost of processes like elections, contract executions and what have you. Do you think Africa can use this to bridge the developmental gap that exists between herself and the rest of the world especially the west?

This creates wide opportunities for the introduction and wide circulation of crypto-currencies in African countries and the creation of one of the world's largest digital asset markets. This, in particular, is trying to take advantage of Bitcoin-company Luno, which predicts the growth of the Bitcoin user base to 1 billion users in 2025.

Some less developed countries leap-frogged over traditional telephone lines and went right to cellular networks. Maybe we could see a similar movement with some national currencies; perhaps some hyper-inflated currencies can turn to deflationary, crypto-graphically backed currency.

blockchain technology is limited to certain fields but the "development gap" that you are talking about is a lot wider than that. so the answer is no it can't close this gap but at the same time blockchain technology is its own field and those countries that are adopting it today will be 10 steps ahead of the rest of the world for a very long time. they can become the number one country in this field, don't know how things are in Africa regarding this but they have the potential.

If the blockchain helps African governance and business become more transparent and save tax payers there a lot of money that goes to waste to fill official's pockets etc, that keeps people out there poorer, then yes I think it can. Also there is the fact that if Africans build new infrastructures that are cleaner and healthier than what we in the west did and in other Asian countries did while developing, Africa will be in a much better place because they also have raw materials. Another thing is the blockchain can bring billions of unbanked people into the world economy, that alone for Africans is huge.  :)

Most of the technological advancements of blockchain technology is been built on existing technology. Most of the African countries are not technologically incline so they still need time. Secondly I don't think they are embracing the technology.

noooo, but Blockchain can improve a lot for their life, but nowhere near to the development of the west.

Blockchain can only help those who use it but can not change the world.
Africa has the resources that make it a continent from the first world, but it is not the exploitation of those resources that make the countries suffer from hunger and poverty.
For example, blockchain can use in electoral systems, but no one can guarantee the effect of people's decision.

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Answer: No.

Blockchain technology can solve development problems as it improves existing instruments and enables the development of new ones. Blockchain-based applications particularly address institutional weaknesses and financial inclusion because they restrict deception, corruption and uncertainties. In the future, the blockchain can also be a development vehicle empowering people directly and mitigating power asymmetries.

Africa has a widespread of corruption cases and it is high time development partners introduce blockchain to help in their dealings. Contracts awarded and financial developments can be implemented on blockchain for transparency.

Fortunately, over the past few weeks, there have been several major breakthroughs in modernizing the interaction of banks and payment networks globally. Last month, IBM announced a partnership with a network of international banks to use a blockbuster platform that would allow people to send money to other countries in the crypto currency. Transactions will be implemented almost in real time, speeding up the payment process, which usually takes several days.

Your entire post history is copy/paste from other sources.

Do us a favor and don't pay your internet bill.

Can you be specific on how you think 'blockchain' adds value to any of the things you mentioned besides trustless payments(bitcoin)? Like I can imagine an election where every citizen has private keys and they sign their vote with them and such, but if anything that seems open for as much abuse as other systems.

It's true that Africa would develop much using the block chain technology,but still it would not be enough to fill the gap with western countries.

Of course not.
The only thing that ca help them is getting rid of the corrupt politicians and working on getting the people to go to school. Education leads to prosperity. Poverty and lack of education go hand in hand.
If you want to save someone, don't give him money give him a job.

it could help a little

How do you mean it can help?
Please elaborate on that.

when it comes to technology Africa always come last. I expect to see a lot of new project development coming from Africa with the use of blockchain, but up till now, nothing is happening. why are Africans always backward when it comes to technology?

Because they're poor and uneducated but these things often go hand in hand.
I really doubt that crypto can change anything there.
I hope I'm wrong.