One of the reasons Bitcoin isn't very popular in rural areas of Africa (and other not-very-well-developed areas of the world) is the lack of stable Internet connections.
If people had a way to pay with Bitcoin for goods and services without being online all the time, acceptance could increase. I think many of us here know the method to interchange paperwallets (like Casascius Coins), but the solution is not ideal, as you must trust the issuer.
In the Spanish forum I discussed a
possible model for such "offline transactions" with other participants. I asked then in the Development forum if the model is viable and it seems so - it is even one of the proposals that led to BIP65 (CheckLockTimeVerify) - although it originally was thought to be used for another purpose.
In this model, both parties need to be online once before and once after the interchange, but it doesn't need to be very close to the time of the trade, e.g. one week before and one week after it is OK, so as long as both have
sometimes access to Internet connection the model would work well.
It is difficult to describe the model in layman's terms but the general scheme is:
- The buyer sends the seller a special transaction. This transaction sends the money to the seller if he can provide a secret code. Otherwise, the buyer can spend the money after certain time (it can be freely chosen, e.g. 1 week).
- When the trade is carried out, the buyer gives the seller a file or a piece of paper with the secret. The seller will instantly be able to check that the secret is correct, with a simple electronic device (without Internet connection).
- The next time the seller gets internet connection, he shares the secret and transfers the coins to his address.
- If the trade is not carried out the buyer doesn't share the secret and so he can spend the coins again after the chosen timeframe.
See the link above for more details.
I think this offline transaction model could be of great interest for those that want to create Bitcoin / cryptocurrency businesses in Africa, because it would expand the market to areas outside the big urban centers (where Bitcoin is mostly already known).