Is bitcoin going to thrive in Africa?

[bigbit124]

It is a well observed fact that, bitcoin is doing amazing and all over the place thousands are accepting it as a medium of exchange. That being so though, it is clear that it has a disruptive nature to the current monetary system. In africa, in Ethiopia in Particular(since i am from there), the government system is awfully slow to adopt to such disruptive technologies. Unlike the developed world, who mostly by now are going with the punches and are investing in mining facilities and what so ever related investment worthy projects around block chains and the likes, i am afraid Most African governments' will have a hard time just with the thought of giving their power away for the people to manage their own money in a decentralized manner.

[Altero]

Yes,absolutely this bitcoin will thrive in africa but not in easy way. According to Werner Van Rooyen, a head of business and development in Africa, they have potential to engage in bitcoin when the goverment make steps to do it. Internet connections that is primary needed to make this bitcoin runs that are hardly found in africa. It takes time, maybe a years to come that bitcoin will be embraced in this country.

[Arkann]

Bitcoin can be used successfully in Africa, there are no special obstacles to this. However, in countries where high technology is not widely used, bitcoin is unlikely to achieve the same level of use in countries with high poverty levels, such as in Japan, the US, Europe and other technologically advanced countries.

[Smarty14392]

Bitcoin is widely used in almost many countries including Africa. Small transactions are usuall and in a large amount but the fact depends on large transactions and mining hardwares. I hope Africa will soon adopt cryptocurrency and also will start some mining farms.

[Kaller]

It will, but you must understand many people in Africa are still without the internet. It is difficult for them to learn about Bitcoin for this reason.

However, all good things come in due time and I believe Africa will catch up in terms of development and technology and will embrace Bitcoin.

Keep in mind, tens of thousands of people in Africa already use Bitcoin...

[*light*]

Not just in Africa, is likely to be around the world..

[davis196]

It is a well observed fact that, bitcoin is doing amazing and all over the place thousands are accepting it as a medium of exchange. That being so though, it is clear that it has a disruptive nature to the current monetary system. In africa, in Ethiopia in Particular(since i am from there), the government system is awfully slow to adopt to such disruptive technologies. Unlike the developed world, who mostly by now are going with the punches and are investing in mining facilities and what so ever related investment worthy projects around block chains and the likes, i am afraid Most African governments' will have a hard time just with the thought of giving their power away for the people to manage their own money in a decentralized manner.

Bitcoin will thrive in Africa,but after decades of growth,adoption and development.
Ethiopia has huge potential for producing electrcity from it`s water resources(check in Wikipedia) and
huge industrualization potential(lots of cheap work force).With more and more big companies investing,the future of african countries is going to be amazing.

[Kakmakr]

OP, can I ask you if you are using M-Pesa in Ethiopia? I know many countries in Africa has already started using it, so they are already familiar with money being digital and also using mobile phones to transfer their wealth. The governments have no problem with that, so why would they have a problem with Bitcoin?

I also know, some African countries use BitPesa a Bitcoin based version of M-Pesa. Let us know if you have dealt with this in your country and how popular it is. ^smile^

[bigbit124]

OP, can I ask you if you are using M-Pesa in Ethiopia? I know many countries in Africa has already started using it, so they are already familiar with money being digital and also using mobile phones to transfer their wealth. The governments have no problem with that, so why would they have a problem with Bitcoin?

I also know, some African countries use BitPesa a Bitcoin based version of M-Pesa. Let us know if you have dealt with this in your country and how popular it is. ^smile^

Here in Ethiopia, we have a service similar to M-Pesa by the name M-birr, it is in its infancy though it hasn't gone mainstream yet. and, m-pessa and other such services do in congruence with the banks right? but when it comes to bitcoin there won't be any banks involved what so ever. Do you think most governments will be at ease when it starts getting big?

[shodiqtercinta]

The Bitcoin industry is growing rapidly in Africa; Many startups and other digital currency businesses are growing exponentially. The digital currency ecosystem has found many followers in Africa and this week's first Bitcoin conference on the continent took place in Cape Town, South Africa.

[Beerwizzard]

During the last time everyone says that they will think about using btc on national level but i dont think that it is possible in different closed countries (like Ethiopia in Particular). The whole economy should be prepared for that and it shouldn't have governmentel regulations (or maybe only a few). Oherwise i dont belive that something good will happen.

[TravelMug]

It is a well observed fact that, bitcoin is doing amazing and all over the place thousands are accepting it as a medium of exchange. That being so though, it is clear that it has a disruptive nature to the current monetary system. In africa, in Ethiopia in Particular(since i am from there), the government system is awfully slow to adopt to such disruptive technologies. Unlike the developed world, who mostly by now are going with the punches and are investing in mining facilities and what so ever related investment worthy projects around block chains and the likes, i am afraid Most African governments' will have a hard time just with the thought of giving their power away for the people to manage their own money in a decentralized manner.

I think it will but it will take time, and the question is is Africa ready for bitcoin? Their are only a few countries in African continue that have access to the internet so if they are going to take advantage of it, they should have at least put up a decent infrastructure that would support this new revolutionary technology. The problem is most of the countries are really poor and internet or is not their priority. Pressing issues like health basic necessities like water and shelter or even electricity. So for me it will take more time before we can finally say that bitcoin will thrive in Africa.