Title: [2015-02-18] CNN.com: Breaking the bank: Bitcoins hit Africa's money transfer... Post by: pawel7777 on February 18, 2015, 10:57:23 PM Breaking the bank: Bitcoins hit Africa's money transfer traditions http://www.cnn.com/2015/02/17/business/bitcoin-africa-unbanked/ Quote CNN Marketplace Africa covers the macro trends impacting the region and also focuses on the continent's key industries and corporations. (CNN)Money makes the world go round, they say, but what if notes and coins were replaced with online code? Bitcoin -- the world's much talked about cryptocurrency -- is just that. It can't be printed, it can't be directly controlled by governments or central banks, but it can be sent around the world instantly at a low cost. And in sub-Saharan Africa, where 75% of the population don't have a bank account, experts say the currency could help millions of people pay bills and get to grips with their finances. ... Title: Re: [2015-02-18] CNN.com: Breaking the bank: Bitcoins hit Africa's money transfer... Post by: Bit_Happy on February 18, 2015, 10:59:52 PM This is great to see major news coverage about BTC in Africa.
2015 will be exciting! Title: Re: [2015-02-18] CNN.com: Breaking the bank: Bitcoins hit Africa's money transfer... Post by: Kprawn on February 19, 2015, 12:25:27 PM I have done some contract work in Africa, and people might be amazed how innovative some of these people are. Do not for one moment think that these people are illiterate idiots sitting around a fire in front of their huts... you will be VERY wrong.
Yes, they do not have cable internet and fiber optic connections to every house, but what they lack in infrastructure, they make up with innovative alternatives. They have also dealt with digital currencies in the form of M-pesa running on cellphones... so you would feel like a idiot abroad, if they ask you cash or M-pesa and you know nothing about it. The only difference between the UK / USA and Africa is the accessability of modern infrastructure and good education. The will to learn is there, but the investment capital to fund infrastructure lack behind. The environment is also difficult, with many traditions and cultural differences, but in the end, we are all human. {albeit Robert Mugabe -- He might be a alien} ;) The introduction to Bitcoin might just be easier, than most people think, with their background with M-pesa. |