[2016-11-12] Major Bitcoin Exchanges are Targeting Africa as Next Big Market

[PHPSELLER]

BitPesa’s efforts to introduce Bitcoin to largely underbanked populations in several African countries have paved a path for other Bitcoin startups and platforms.

An increasing number of Bitcoin exchanges are beginning to expand their services to the African market, hoping to provide higher liquidity and favorable conversion rates.

African payment, remittance and financial markets are largely dominated by local remittance outlets, banks and mobile networks. Safaricom’s mobile phone-based remittance and microfinancing network in particular has a staggering 86 percent share of the Kenyan market, completely eliminating banks, financial institutions and other money transfer companies from its market.

Read More: https://cointelegraph.com/news/major-bitcoin-exchanges-are-targeting-africa-as-next-big-market

[Kprawn]

Well if you look at how successful M-Pesa was in Africa, then you should naturally want to expand your services to a geographical area where

people are already familiar with a concept of digital money on mobile phones. They should concentrate on marketing the negative side of these

technologies. For example : Centralized services - M-Pesa is very dependent on the local mobile service providers for it to function. If

their governments shut down these services, their funds will be gone. Bitcoin rely on a decentralized Blockchain, that cannot be shut down by

their local governments. 

[1Referee]

Bitcoin rely on a decentralized Blockchain, that cannot be shut down by their local governments. 

Governments can't indeed do anything to stop Bitcoin. However, if they so wish, they can force mobile network providers, ISPs, and all other related companies, to cut all ties with Bitcoin and any activity that comes even close to it. On top of that, they can force through all kinds of outrageous policies and punishments for companies not abiding their law. It may sound as an extreme situation, but the majority (if not all) of the countries in the continent of Africa are severely suffering from corruption. So in that regard, it's perhaps a realistic scenario if Bitcoin grows too large in these countries.