Bitcoin adoption in Africa: Bitcoin solving problems in the country

[AicecreaME]

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?

But in order to make this thing happen, Government in Africa should make his action on helping the other part of their country that is not yet civilized like the other country because of facing too much poverty, living on the slums areas and just only earning $1 a day or below. If Africa really wants the help of bitcoin to be a successful country, then they should provide enough computers and have free internet that can afford by anyone who lives in there, specially those people who wants to earn money but since they didn't finished college or don't have enough money to look for a job.

And the most important thing is that, the people in there, the Government, must make the change to begin in themselves before bitcoin help them to make a change in their country, because the change must always begin in each of us in order to achieve something.

[Mometaskers]

Considering that there's also a large number of Africans working abroad, it's not surprising that bitcoin use would become widespread there. People are probably creating wallets to receive the remittances of their family members abroad. With increasing number of people already having bitcoins, it's not unlikely that some entrepreneurs there would start selling goods and service payable with bitcoins.

What's interesting with Africa's case is that we know that it's underfunded and that some NGOs are already using bitcoins to send aid. It's possible for bitcoin to fill this niche and that we'd see financing methods that rely on bitcoins to emerge there.

[European Central Bank]

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.

many parts of africa have crazy good cell phone coverage, better than rural areas of europe and america sometimes. they bypassed landlines and went straight to masts.

[Ravion]

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.

Bitcoin would be great for countries in Africa. There's a huge amount of government corruption in those countries, as well as exploitation of the population by people who are in high levels in the government. Using Bitcoin would be a great way for the people to protect their money.

[Senor.Bla]

Just see Bitcoin as a tool that can be used to do good or bad things. It just depends on how you use it. But there is one more point. Africa is big, so with the current scaling debate in mind we are not able to handle the volume of new users that wold be needed to make a change in Africa.

[richardsNY]

Just see Bitcoin as a tool that can be used to do good or bad things. It just depends on how you use it. But there is one more point. Africa is big, so with the current scaling debate in mind we are not able to handle the volume of new users that wold be needed to make a change in Africa.

Correct, Bitcoin as it is isn't a suitable solution for basically every country in the continent of Africa. Especially when you consider that the majority of the people there depend on transacting in form of micro transactions. And let these micro transactions be exactly what Bitcoin isn't suitable for with current fees. Somehow a lot people here in this forum still don't seem to understand that.

[CyberKuro]

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?

To help in financial sectors maybe going so good until now, but not to solve government problem about corruptions due to apply smart contact is not easy. They're doing so great which could penetrate into Asian market and I've ever used their services too : BitX announcing that their wallet was downloaded 100,000 times in Google Play, it only shows that Bitcoin transactions
I just know that bitx is Nigeria based business, even though I know they are in Africa. It shows how much bitcoin has growing in there.

[AjithBtc]

Very few African countries were wealthy and the people enjoy the luxury better than the European nations. At the same people of the same country strives hard for a single time food. Now bitcoin as a part could have given life to people who know about the computer and internet. Also more drug dealers too might be using bitcoin.

[shinratensei_]

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?

There will no the dollar dominance, and it looks like zimbabwe will have an exit from his problem such as a lot of inflation in his country. So, there is no way for a lot of the officials to doing a corruption. and it will make the Africa have a stable condition.

[bitcoineverything]

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

If Bitcoin will be a success in Africa, many countries will look at it the same way as analysts today do. It will be a great boost to the adoption of the cryptocurrency.

[Doms]

I really think Africa is going to greatly benefit from bitcoin, because it is known that a big part of the population to this day remains without bank accounts. With bitcoin acting as their own bank, the citizens would have total control of their money.Also, the money transfer is a huge business in Africa and with bitcoin's lower fees, it could really keep up with the competition.

[clickerz]

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.

Bitcoin would be great for countries in Africa. There's a huge amount of government corruption in those countries, as well as exploitation of the population by people who are in high levels in the government. Using Bitcoin would be a great way for the people to protect their money.

Bitcoin would be good in industrializing countries or they say Third Word countries and not only in Africa. There are families who are living less than a dollar a day and bitcoin is a good catalyst for the alleviation of poverty. With bitcoin as a tool currency to earn, those talented people has access to wide services which they can offer their talents and earn a substantial amount (bitcoin) in world standard if converted to their local currency.It has a big value to them,Bitcoin can create an equal opportunity to all worldwide. Africa can harnessed this technology to create more opportunity to its people.

[The_Dark_Knight]

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.

We will need to first solve the problem with the high fees while paying 50 cents for a transaction may not seem a lot for someone in the developed world that is a lot of money for someone in Africa that is poor.

[Sadlife]

If bitcoin becomes successful in africa it would decrease the populations major crisis like people dying from starvation, jobless people, poverty and it will also help the homeless.
If bitcoin would become a worldwide used currency it will end corrupt politicians, people drowning in debt and elites has no more power over the people.
The future of currency is digital currency.

[Schuyler]

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.

We will need to first solve the problem with the high fees while paying 50 cents for a transaction may not seem a lot for someone in the developed world that is a lot of money for someone in Africa that is poor.

The high fees that you are talking about are still considerably lower compared to local money transfer services. Plus the hassle of going to these centers and waiting for your turn adds to the inconvenience. Those are all to the advantage of bitcoin and if Africa, or other countries, eventually adopt bitcoin, it could surely help in alleviating the poverty in certain areas.

[iram3130]

If bitcoin becomes successful in africa it would decrease the populations major crisis like people dying from starvation, jobless people, poverty and it will also help the homeless.
If bitcoin would become a worldwide used currency it will end corrupt politicians, people drowning in debt and elites has no more power over the people.
The future of currency is digital currency.

But the problem is more than 90% of the population is not even aware of the Bitcoin and its advantages over fiat. If they come to know about it and start earning it then it'll definitely help their financial crisis situation.

[squatz1]

Might be the only way for normal people their to be able to escape the rampant corruption that is present in countries in Africa and sadly mostly accepted by people due to the widespread nature of it. Bitcoin could allow people to be able to hide vast amounts of money from authorities but I guess that could only go on for so long without the government attempting to crack down on it.

It's probably going to be more of a chore for people in the countries in Africa to be able to buy bitcoin and go through all the loops and bounds of this. I don't even know of many exchanges that would want to deal with the impoverished people in Africa (Not saying they all are, but by the standards of the Western world some are)

I really think Africa is going to greatly benefit from bitcoin, because it is known that a big part of the population to this day remains without bank accounts. With bitcoin acting as their own bank, the citizens would have total control of their money.Also, the money transfer is a huge business in Africa and with bitcoin's lower fees, it could really keep up with the competition.

See people on this forum are always saying this kind of stuff, how could Bitcoin help these people in the least if no one is going to accept it and NO ONE wants to go ahead and be the first to try a service like this, risking their hard earned money.

[rivoke]

Bitcoin has high value against ZAR ( African currency ) so if African people able to mine or earn bitcoin, it become great advantage because it will help African's economy. Let say if they build online shop or other public service that accept bitcoin , I'm sure that the transaction will be active since the demand will increase overtime

[vaxo_nba]

On this situation what is the difference between fiat and BTC? What can be done with BTC that is impossible with fiat? I think nothing special, also if it comes to corruption there will be much more comfort for corupts.

[n0ne]

Bitcoin has high value against ZAR ( African currency ) so if African people able to mine or earn bitcoin, it become great advantage because it will help African's economy. Let say if they build online shop or other public service that accept bitcoin , I'm sure that the transaction will be active since the demand will increase overtime

Yeah ZAR has got high value against bitcoin but it doesn't make the economy grow in a short. Online shops don't make big acceptance right now, because only when a large user group makes entry to bitcoin its beneficial.