[2015-04-13] TheNextWeb: How Bitcoin could revolutionize remittance in Africa

[pawel7777]

How Bitcoin could revolutionize remittance in Africa

http://thenextweb.com/africa/2015/04/13/how-bitcoin-could-revolutionize-remittance-in-africa/

A host of local companies are looking to disrupt the remittance market in Africa by undercutting traditional money transfer operators while also offering businesses new ways of accepting payments on a continent with low credit card penetration and an over-reliance on cash.

The likes of Igot, Beam, BitPesa and BitX have spotted an opportunity to build Bitcoin businesses in Africa. Though stolen bitcoins, the collapse of the Mt.Gox exchange and drastic digital currency value fluctuations have made Bitcoin a byword for controversy in much of the Western world, they feel it can find a true home in Africa, the land of mobile money.
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[ashour]

Bitcoin will play an important role in  Africa  since many people there don't have any bank account let alone credit cards. Bitcoin and crypto currencies like Stellar will try to solve the problems with online payment. It's just a matter of time.

[indiemax]

For this to be workable, the banks need to play ball to cut the difficulty/cost to changing to local currency

same old problem that holds Bitcoin back as usual 

[b!z]

For this to be workable, the banks need to play ball to cut the difficulty/cost to changing to local currency

same old problem that holds Bitcoin back as usual 

The solution is to cut out bitcoin and deal entirely in fiat currency. It's faster and easier to setup.