Poor Internet Services Could Cause Hamper Crypto Adoption in Africa

[dmamigo]

Africa isn't "a large segment of the world economy",actually it's a relatively small part.I remember that the African GDP was more than 1 trillion USD,which is very little,for a continent populated with 1 billion people.
I think that Africa needs industrialisation first and then crypto adoption.Most of the african countries have 80% uneducated population of peasants,who can do only agricultural work.

This is the correct view in my opinion, the GDP per capita of the African continent is incredibly low, it is 3.5 times lower than the next place which is the Asian continent, so before that a revolution is needed in order for the continent as a whole to become more productive but this is going to be almost impossible with the huge level of corruption from their governments.

They can be quite productive, but the corruption as you said is huge and it is a mess over there. I guess there are goons which are doing their work along with the help of the political power. There are various products whose raw material is obtained from Africa, but still, they are unable to grow.
Crypto adoption will take a long time, I mean to say large-scale adoption. I am not sure, but I guess not even half of their population uses the internet or even qualified to use the internet or an electronic device. Education is another drawback in their country.

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[Burogh]

Africa is a large segment of the world economy that could see some challenges in catching up with the rest of the world in being a part of the crypto revolution due to poor internet services infrastructure. This is the fall out from less investment in the development of the sector. Crypto is a much more needed addition to the Africa economy as it has the potential to generate huge wealth and get the younger generation engaged.Africa should a crypto hub.

https://news.bitcoin.com/poor-internet-access-could-slow-down-cryptocurrency-growth-in-africa/

Internet connection is needed if people want to use cryptocurrency. Many area in the world dont have good internet infrastructure and i am believe internet is essential for cryptocurrency growth

[BitcoinGuruOne]

I think that is  a little overfetched to talk about blockchain adoption within 3rd world countries. Yes, there are some countrie sin Africa which have high life level but in general people do not means to use digital payments of any sort.

[squog]

That is true, crypto currency is heavily internet based and a very slow internet could hinder transactions. Online monetary transactions needs highspeed internet to actually be done. This is why we need an insane amount of infrastructure not just in Africa but in the whole world to have a global currency in place.

[BennyK]

Africa is a large segment of the world economy that could see some challenges in catching up with the rest of the world in being a part of the crypto revolution due to poor internet services infrastructure. This is the fall out from less investment in the development of the sector. Crypto is a much more needed addition to the Africa economy as it has the potential to generate huge wealth and get the younger generation engaged.Africa should a crypto hub.

https://news.bitcoin.com/poor-internet-access-could-slow-down-cryptocurrency-growth-in-africa/

Most of African countries are still underdeveloped with limited technology in these countries in Africa. One of the major problem is internet accessibilty and affordability. Crypto will thrive very well if the problem of internet is fixed in such areas because it will generate more hob opportunities for the younger generation and boost the economy as well.

[jamids]

Most of African countries are still underdeveloped with limited technology in these countries in Africa. One of the major problem is internet accessibilty and affordability. Crypto will thrive very well if the problem of internet is fixed in such areas because it will generate more hob opportunities for the younger generation and boost the economy as well.

It is not only in Africa but in other developing countries as well. One of the reasons why it would be hard for cryptocurrency to be the payment option replacing fiat is that the problem of internet connection. Some areas doesn't even have electricity so it would be hard for them to use cryptocurrency. Their way to have a proper transaction is the usage of fiat because it is physical money so no need for an electricity and connection.

If you look at the developed countries, it would be easier for them to shift from fiat to digital because they have the available resources whereas for those developing countries, it would be hard to shift immediately unless there is an improvement in the technology.

[cryptoblazter]

One of the main reason why cryptocurrency will not replace fiat money is that it needs internet conncetion for transactions to pursue. We all know that internet connection is not yet worldwide. There are places or country where internet is very poor such as Africa. It would take few more years for cryptocurrency to go mainstream anywhere else in the world.

[stompix]

Well here in Africa, Nigeria to be specific, the number of people who have access to internet is more than the whole population of some European countries.
And currently Nigerian is the 5th largest country where bitcoin is traded! ...The only thing that could hamper the growth and adoption of crypto and blockchain in Africa is the skepticism of the people towards the technology. Which can be easily resolve with good amount of educational programs,
crypto and blockchain conferences will also do a lot of good in the space.

It's like saying Brazil has more highways than Monaco.
Nigeria has more inhabitants than almost every European country so what are we comparing?
And Nigeria is the 5th largest country where bitcoin is traded again means nothing. India is the second, and its influence on the price? 0. Zero! Nada!

Let's check the number of shops accepting Bitcoin in Nigeia...how many are there?
Which is the biggest exchange in Nigeria and what is the daily volume? How many full nodes are in Nigeria? Oh, I can answer you what, 1! One!!!!!!!!

They can be quite productive, but the corruption as you said is huge and it is a mess over there. I guess there are goons which are doing their work along with the help of the political power.

but this is going to be almost impossible with the huge level of corruption from their governments.

Their government are the ones killing them. If you go to Africa those they have as leaders are just criminals who are only there for their own selfish desires.

So we agree that the governments or we can say dictators are to blame for the situation and all of you think that those will let crypto grow and lose control over the money flow? Before thinking of cryptos and freedom of using it probably the next step should to get rid of those people and put somebody else in charge of things. And unfortunately, I've yet to see an African country leader that has come out of the pack and is recognized as a capable one.

[GregH37]

That is true, crypto currency is heavily internet based and a very slow internet could hinder transactions. Online monetary transactions needs highspeed internet to actually be done. This is why we need an insane amount of infrastructure not just in Africa but in the whole world to have a global currency in place.

This is not even just about slow internet, because slow internet generally is even something that you can still make use of even if you want to do any transaction, it does not take all the data in the world to get that done.

However, we still have to realize that in most parts or countries in Africa, there is inaccessibility to internet. Although I have been to some part in which the usage of smartphone and access to internet is not that bad, such as Nigeria, South Africa, Kenya, and Ghana, but we still have to consider the fact that this is just very few among the general population of Africa as well as the number of countries in Africa. Nonetheless, there is always a start to everything anyway.

[StarofBTC]

I think that is  a little overfetched to talk about blockchain adoption within 3rd world countries. Yes, there are some countrie sin Africa which have high life level but in general people do not means to use digital payments of any sort.

The thing here is that as much as there are countries in Africa that have access to internet, if we are looking at the overall population, we will understand it is not actually something that is applicable and only applicable to just some small part of this region.

Africa is a continent that despite the fact that they have almost everything you can think of when it comes to natural resources, they have just one thing in common that has always been their problem and that is basically bad leadership, which is one of the reasons that have made it stay aback in development over the years.

[spongegar]

I woukd think that it would happen hinder crypto currency but necessarily in a very big way. While it is true that crypto currency is heavily internet dependent but even at 500 kb/sec crypto currency could very function properly. This is one of the challenges crypto currency faces. Everyone and everywhere should have internet access for adoption.

[gabbie2010]

I agreed that Africa has been lagging behind the rest of the continent in terms of infrastructural development particularly internet penetration is still low however a recent  research shows that there is a 20% increase in the number of internet users in 2018 invariably there will a gradual adoption of Cryptos as more Africans hears about it.

[onrise]

That is true, crypto currency is heavily internet based and a very slow internet could hinder transactions. Online monetary transactions needs highspeed internet to actually be done. This is why we need an insane amount of infrastructure not just in Africa but in the whole world to have a global currency in place.

In any country where their is no electricity or no internet services in smaller town will going to impact the crypto currency at large. Also they would not even be aware if such thing did exists but in coming years thing will be become better for every country as this are basic necessity now and government would be working to resolve it at qyuickly.

[Nellayar]

I am not in Africa but my sisters are in Mozambique just to work. They said to me that Africa gradually adapts the technology and it is good that they are already civilized. Africans have change their way of living, they want also to be popular all over the world. I hope they will totally regulate and understand the cryptocurrency specially that Africa is rich when it comes in natural resources.

[D3m1r4wanti]

Crypto currency is done with online transactions using internet media, so that for regions or countries such as those in Africa that have difficulties with internet connections, it will be difficult to develop crypto currencies in that country

[Buttermellow]

Of course it will not work out because of a problem in the likes of this. We know that cryptocurrency is digital and it will require an internet connection. If there is a poor internet connection service then definitely this will hamper cypto adoption. The poeple should ask the government for this to solve the problem for the government has the big role on implementing a good and strong internet connection for the country.

[badungs]

t is true. if every country wants to use or implement digital technology or financial currency technology, the country must be supported or have good internet services and have an extensive internet network so that it can facilitate all people in that country. so that the internet service provider must be prioritized in order to use crypto currencies.

[sinkfish]

i'm more concern of the political instability of Africa. corruption and tribalism is widely practice there. it could be hard for crypto to penetrate the market.

[d1ceplayer]

That is true, crypto currency is heavily internet based and a very slow internet could hinder transactions. Online monetary transactions needs highspeed internet to actually be done. This is why we need an insane amount of infrastructure not just in Africa but in the whole world to have a global currency in place.

In any country where their is no electricity or no internet services in smaller town will going to impact the crypto currency at large. Also they would not even be aware if such thing did exists but in coming years thing will be become better for every country as this are basic necessity now and government would be working to resolve it at qyuickly.

It does not even have to be Africa alone; there are so many other places in the world where some of these things are lacking. Also, having been to some developing parts of Africa, one can say there is actually great improvement when it comes to internet and all which is a start as far as I am concerned. No continent is beyond development, and even though they are lagging behind, that does not means they are completely behind, so in a way, as we see some people getting to adopt something pretty fast, so are we always going to end up seeing laggards, just like we are having now even in the crypto space.

[Altf4]

One of the factor so important in the adoption of cryptocurrency in a certain place is the abundant or adequate internet provider in the place , because poor supply of internet access can hamper the adoption of this cryptocurrency technology , like this instances that happen in african region, so improvement of this internet access in any african places ,could help in running this cryptocurrency very successful.