Bitcoin adoption in Africa: Bitcoin solving problems in the country

[bitcoineverything]

Hi Everyone,

We come to learn that Bitcoin adoption is rapidly growing in Africa. Analysts say that Bitcoin could be a solution to problems in Africa including remittances, economic difficulties and even corruption. If this would be successful for Africa, would it do the same for other countries too?

What can you guys say about it?

[Amph]

if bitcoin there can dominate the economy and destroy their dirty governement, they might solve their economy ccrysis,

but if you think about it, it's not different than other country giving them help economically, bitcoin is that you are burrowing money from other with it

the other pump for you and you becoem rich, the same will apply for poor country

[wisqo]

I think bitcoin is ideal for developing countries. It offers alternative forms of payment at much lower costs and for any amount. Micro loans are rapidly growing across the African continent, helping small businesses get up and running. I think bitcoin is a tool that can be utilized to make these businesses keep their costs down. If adopted and used properly, it can certainly propel many countries forward.

[eternalgloom]

It could be a solution in the future, but I think that most rural places in Africa still do not have access to good internet. This poses a problem for widespread Bitcoin adoption there.

A friend of mine recently gave a lightning talk at the Git-Merge conference, which explained this problem and offered a solution, using Github as a money-less transaction exchange ledge system.
I know this doesn't have anything to do with Bitcoin really, but I thought it was pretty interesting, I'll copy the gist of the talk here:

“Lightning Talk / Git: The Original Blockchain”
Meredith L. Patterson, Mautinoa Technologies

Meredith showed how Git was chosen as the underlying platform for implementing a money-less transaction exchange ledge system. This implemented an actual monetary system in Sierra Leone, where phone minutes is actually considered a viable FX currency, since otherwise the national bank would go bankrupt.

Bitcoin and other blockchain-based distributed ledger systems are “gossip protocols”, and require always-on Internet access, not available in much of Africa. What is needed is a way to perform transactions off-line, with later reconciliation step. This means that the system needs to store timestamps in its blockchain… Meredith noticed that this is what Git does! The presented solution uses a ledger-cli / hledger plain text accounting format as a format for storing transactions, Git commits for blockchain, remotes as wallets / accounts, and GPG keys with short expiration dates for signing.

This shows how technologies, such as Git, that do one thing well can change the world by doing the thing they do well in unexpected places.

Source: https://git.github.io/rev_news/2017/02/22/edition-24/

Sadly the video isn't up on their website yet.

[majeed]

Hi Everyone,

We come to learn that Bitcoin adoption is rapidly growing in Africa. Analysts say that Bitcoin could be a solution to problems in Africa including remittances, economic difficulties and even corruption. If this would be successful for Africa, would it do the same for other countries too?

What can you guys say about it?

How can it be? I mean, most of the people in Africa do not have a chance to interact with common technology like smartphone, television and internet. How can they able to use Bitcoin widely in the country? Of course we can send Bitcoin to help them, but using Bitcoin in Africa is a big problem. I doubt that Bitcoin can affect and make the life of people in Africa be better

[bhadz]

It's not just a solution for solving problems in Africa but that is applicable to all countries in the world. But when it comes to corruption that's the only thing that I'm thinking that those corrupt officials will have to use the advantage of using bitcoins anonymity for their shady acts inside their offices.

[Windpower]

Hi Everyone,

We come to learn that Bitcoin adoption is rapidly growing in Africa. Analysts say that Bitcoin could be a solution to problems in Africa including remittances, economic difficulties and even corruption. If this would be successful for Africa, would it do the same for other countries too?

What can you guys say about it?

I truly think that it is a great idea. But I just don't know whether it would actually work because there is very little wifi access in Africa. As in the more underdeveloped countries. That is a big problem because pretty much everything that relates to Bitcoin is online. However, for the people that wifi access, I think that Bitcoin can solve a lot of their problems. Posting on this forum would make them a good amount of money for their standards. Because they probably earn a couple of dollars per day. That would mean that they are doubling their salary. And this should work for pretty much all developing countries, not just Africa.

[megynacuna]

If Bitcoin is able to work for Africa in resolving their difficult economies and corruption it should sure be able to go the same for other poor countries outside Africa. I strongly believe the global adoption of Bitcoin is on course and it will reach every nook and cranny of this world.

[densuj]

Hi Everyone,

We come to learn that Bitcoin adoption is rapidly growing in Africa. Analysts say that Bitcoin could be a solution to problems in Africa including remittances, economic difficulties and even corruption. If this would be successful for Africa, would it do the same for other countries too?

What can you guys say about it?

Of course yes if it is work on africa will be work for other countries, but I don't know if there are countries that adoption bitcoin to the countries and it is work, the problem is will not the leader of countries taking high risk with adoption bitcoin for the countries and it is still analysis some people without any proof.

[death69]

If Bitcoin is able to work for Africa in resolving their difficult economies and corruption it should sure be able to go the same for other poor countries outside Africa. I strongly believe the global adoption of Bitcoin is on course and it will reach every nook and cranny of this world.

That is correct. We can not deny the benefits of Bitcoin and it is precise that Bitcoin will help many poor countries. However, in some cases, Bitcoin is hardly used in these areas because most of the people do not have advance technologies like we do. I am scared that they do not even have a smartphone to transfer Bitcoin from this place to another place. I think time is the only cure for this issue. We can not do anything to help them unless they have a good equipment and technology

[Jannn]

Im agree that Bitcoin can solve the problem in the remittances and can make economy growth but in corruption I dont know that Bitcoin can help to solve that.

[szpalata]

If Bitcoin is able to work for Africa in resolving their difficult economies and corruption it should sure be able to go the same for other poor countries outside Africa. I strongly believe the global adoption of Bitcoin is on course and it will reach every nook and cranny of this world.

That is correct. We can not deny the benefits of Bitcoin and it is precise that Bitcoin will help many poor countries. However, in some cases, Bitcoin is hardly used in these areas because most of the people do not have advance technologies like we do. I am scared that they do not even have a smartphone to transfer Bitcoin from this place to another place. I think time is the only cure for this issue. We can not do anything to help them unless they have a good equipment and technology

I think you guys are right because there's no limit to Bitcoin and once it is able to penetrate Africa to help them there I see no reason why the same can't be done anywhere so it's laudable Africans are accepting it as it should.

[asdalani]

Africa is also into Solar Power so Solar Mining is possible there too, since Africa is a large area -the people there could make some money each day with the right equipment.

[eternalgloom]

If Bitcoin is able to work for Africa in resolving their difficult economies and corruption it should sure be able to go the same for other poor countries outside Africa. I strongly believe the global adoption of Bitcoin is on course and it will reach every nook and cranny of this world.

That is correct. We can not deny the benefits of Bitcoin and it is precise that Bitcoin will help many poor countries. However, in some cases, Bitcoin is hardly used in these areas because most of the people do not have advance technologies like we do. I am scared that they do not even have a smartphone to transfer Bitcoin from this place to another place. I think time is the only cure for this issue. We can not do anything to help them unless they have a good equipment and technology

The smartphone isn't the issue, the internet is. What good would a smartphone do if you don't have any internet or at best a spotty internet connection?
I think it's more important that some countries in Arfica get some decent internet infrastructure there.

I dunno, maybe some free hotspots scattered around rural areas, I'm sure that in the grand scheme of things, it wouldn't be too expensive.

[vnvizow]

Africa is also into Solar Power so Solar Mining is possible there too, since Africa is a large area -the people there could make some money each day with the right equipment.

Standard ROI on mining equipment is around 6 months already, can't imagine the ROI for all the setup required for solar mining

[asdalani]

Africa is also into Solar Power so Solar Mining is possible there too, since Africa is a large area -the people there could make some money each day with the right equipment.

Standard ROI on mining equipment is around 6 months already, can't imagine the ROI for all the setup required for solar mining

People throw out Bitcoin/Altcoin mining equipment more often than we all think. Recycling those plus having Bitcoin last a long time will yield a little bit of money per month.

[nara1892]

Hi Everyone,

We come to learn that Bitcoin adoption is rapidly growing in Africa. Analysts say that Bitcoin could be a solution to problems in Africa including remittances, economic difficulties and even corruption. If this would be successful for Africa, would it do the same for other countries too?

What can you guys say about it?

How can it be? I mean, most of the people in Africa do not have a chance to interact with common technology like smartphone, television and internet. How can they able to use Bitcoin widely in the country? Of course we can send Bitcoin to help them, but using Bitcoin in Africa is a big problem. I doubt that Bitcoin can affect and make the life of people in Africa be better

I wonder that too. actually bitcoin system is good for a country, imo, but how could Africa be successful with bitcoin if they couldn't even access internet? if they just know internet and can access it, I think bitcoin can help the country.

[NetFreak199]

Hi Everyone,

We come to learn that Bitcoin adoption is rapidly growing in Africa. Analysts say that Bitcoin could be a solution to problems in Africa including remittances, economic difficulties and even corruption. If this would be successful for Africa, would it do the same for other countries too?

What can you guys say about it?

Every country  have growing  bitcoin adoption, how bitcoin will help the country it depends on how they will use it as a global currency and how they can easily use it .the problem need to solve in people of Africa is how can they easily access internet connection and have thier own bitcoin wallet.

[OhMyCoin]

It may probably solve some issues, but not all of them. If a person doesn't have Internet connection, no Bitcoin will save them.
But I believe it can drive economics of the country which will lead to new working places.
Will it work in other developing countries? Maybe...

[asuryan180]

From a standpoint is is quite normal that in Africa things aren't going as smooth and as fast as in other more develope continents but that's not to say that BTC growth should be limited to only developing countries.Africa has the potential to improve and there are places there with Internet connection but we can only hope that the number of those places increase,otherwise we may lose quite a lot of people who could have otherwise been introduced to BTC