Remember “bitcoin for remittances”. It was huge a little while ago. Companies like Beam from Ghana and Kenya’s BitPesa were going to use bitcoin to make the sending and receiving of money faster and cheaper for everyone.
It didn’t work that way. Beam ditched bitcoin. BitPesa pivoted from remittances. Other companies shut up shop almost as quickly as they had opened.
Using bitcoin may well have been a more efficient and cheaper way of sending money than, say, using Western Union. But the fact is people didn’t understand it, and more importantly, didn’t trust it. The legacy of Mt. Gox is too powerful.
Bitcoin in Africa is dead. Long live bitcoin.
https://afkinsider.com/132991/africa-proving-bitcoin-is-so-much-more-than-just-remittances/
