Africa - Hidden Treasure for the world and bitcoin

[teosanru]

When we hear about Africa most of us assume about the poverty or unemployment but honestly the kind of natural minerals they reserve they could be one of the richest nation but the problem over there is that neither government nor the citizens get benefited by their natural reserves due to warlords occupying it but do you think if government takes stern step and utilize the resource in the appropriate way and accepts bitcoin as a payment mode for exports then Africa can bloom again and this will help bitcoin if those products can be purchased using bitcoin so it will increase the trade which will benefit them in their GDP and will increase the demand for bitcoin thus triggering the price pump.

I think the whole world is a treasure. You just need to find a good treasure hunter who needs to find the treasure hidden. Africa's natural resource hasn't been utilized properly so far and as far as there is western domination Africa won't develop anytime soon. You would just see this major world countries buying all these natural resources and manufacturing the resource in their countries and then developing their own countries. Only a proper development of education in the country will bring technological advancement in the country and only then you will see how will they adopt bitcoin and cryptocurrencies.

[1715446134]

1715446134

[imstillthebest]

I think the whole world is a treasure.

you mean to say every country has thier own treeasure  ? thats true because one country can have a product like this , that they can only be find on thier country but not on the other and other country do also have thier own reseources which cant be find on the other , and so on  .

You just need to find a good treasure hunter who needs to find the treasure hidden.

this is true again  . not just knowledgeable people to do the work but also the people that are honest so that he wont keep what he find .

bitcoin and cryptos can be a good medium of exchange for all parts of the world not just on africa , to buy and sell ones treasure or resources  .

[PavelMed]

Residents of Africa have rich reserves of minerals, precious metals. Which in their volumes can not be compared with Yakutia. Their main problem, and maybe dignity, is good for them. Fresh vegetables and fruits all year round, fishing and hunting. If the people were interested in production, they would flourish.

[Eclipse26]

Africa needs to develop other factors first before focusing on technological advancement. The main problems they're facing probably are poverty and education which the government of Africa needs to focus on first. If education will be provided to the youth, then it's up to the youth how they will contribute to their country on making it better in the future. If they were given a good education then they can learn the knowledge about technology that they need first before understanding blockchain and bitcoin. Because it will be hard for them to adopt bitcoin when they don't know how it works.

[Naida_BR]

When we hear about Africa most of us assume about the poverty or unemployment but honestly the kind of natural minerals they reserve they could be one of the richest nation but the problem over there is that neither government nor the citizens get benefited by their natural reserves due to warlords occupying it but do you think if government takes stern step and utilize the resource in the appropriate way and accepts bitcoin as a payment mode for exports then Africa can bloom again and this will help bitcoin if those products can be purchased using bitcoin so it will increase the trade which will benefit them in their GDP and will increase the demand for bitcoin thus triggering the price pump.

Africa is a very rich continent, but there are a lot of coercive leaders among the African countries which do not care about their people.
I think that this can change only by uniting all the African nations and protect against them. Taking control of the political scheme will reverse this condition and of course Bitcoin might be proven a strong tool-weapon for this revolution.

[doomistake]

When we hear about Africa most of us assume about the poverty or unemployment but honestly the kind of natural minerals they reserve they could be one of the richest nation but the problem over there is that neither government nor the citizens get benefited by their natural reserves due to warlords occupying it but do you think if government takes stern step and utilize the resource in the appropriate way and accepts bitcoin as a payment mode for exports then Africa can bloom again and this will help bitcoin if those products can be purchased using bitcoin so it will increase the trade which will benefit them in their GDP and will increase the demand for bitcoin thus triggering the price pump.

Their Government could start it with fiat, their Government is too weak on my opinion to put a resolve on their general problem, resulting to their citizens to move on their own. Those who have the power to mine their minerals are abusing it, making it illegal to make more money, the exploitation of their minerals is the problem, being in a poor country makes you selfish.

More than 50% of their population is only making below $1 per day, imagine how ironic is that. The majority don't have the power, and those who have the power are not using it to benefit the majority instead they use it to benefit only themselves.

[Wysi]

When we hear about Africa most of us assume about the poverty or unemployment but honestly the kind of natural minerals they reserve they could be one of the richest nation but the problem over there is that neither government nor the citizens get benefited by their natural reserves due to warlords occupying it but do you think if government takes stern step and utilize the resource in the appropriate way and accepts bitcoin as a payment mode for exports then Africa can bloom again and this will help bitcoin if those products can be purchased using bitcoin so it will increase the trade which will benefit them in their GDP and will increase the demand for bitcoin thus triggering the price pump.

The condition of the African continent is really pitiful. More than just Bitcoin or even blockchain, the Africans should try to revisit their very basic personal values and cultures. I don't think Bitcoin or blockchain can address the most pressing issues of the land. There is widespread poverty, corruption, wars, illiteracy, lack of basic needs, warlordism, and many more social, political, and economic problems. Africa is blessed in terms of natural resources but look at how they fare in their daily lives. They should learn to unite and move forward as one blood. Right now, the foreign companies and governments are exploiting their resources indiscriminately without even improving the lives of those people around.

Exactly, It's really sad to see their situation eventhough they have rich natural reserves and moreover you might see inequality like one person will strive to get bread in his table wherein others live in palaces and enjoys their life king size especially politicians and war lords. The worst part over there is that they don't listen to public and just crush the protests or demands with iron fist. UN needs to intervene and do some justice as Africa can be a golden valley of the world if the resources are utilized in proper way and spent on public infrastructure and welfare.

[1Referee]

It's really sad to see their situation eventhough they have rich natural reserves

It may seem like so from a distance, but most of the areas with relatively easy to extract resources such as Gold and oil are in the hands of foreign governments and private investors.

African countries have been underselling themselves for decades now. For every dollar they get for their Gold and oil rich areas, hundreds are being extracted to end up in the pockets of governments and investors outside the continent of Africa. No wonder most African countries are so poor. In the crypto world we refer to this as getting yourself rekt.

Venezuela for example has the largest oil reserve in the world, but is going through a horrible recession with mind-boggling hyper inflation.  

[Kyraishi]

It's really sad to see their situation eventhough they have rich natural reserves

It may seem like so from a distance, but most of the areas with relatively easy to extract resources such as Gold and oil are in the hands of foreign governments and private investors.

Exactly. It's not sure they are lacking technology, or lack manpower, etc. They are a huge nation that could definelty rise up to the ranks of China/America and their recent growths in GDP reflects so.

Corruption is huge in Africa. A lot of the government are all bought and paid for by other companies and it's impossible to get anything done unless you make a "donation" to certain people.

African countries have been underselling themselves for decades now. For every dollar they get for their Gold and oil rich areas, hundreds are being extracted to end up in the pockets of governments and investors outside the continent of Africa. No wonder most African countries are so poor. In the crypto world we refer to this as getting yourself rekt.

Venezuela for example has the largest oil reserve in the world, but is going through a horrible recession with mind-boggling hyper inflation.  

Corruption, corruption, corruption...

[TravelMug]

There will be a blockchain conference in Africa next year, https://blockchainafrica.co/.

So I do hope that it will open doors to many companies around there to really used and take advantage of this technology. But I do agree that the main problem here is corruption, and as much as blockchain can be seen as a game changer today, if people behind the governments are full of corrupt officials, African nations will be having a hard to bounce back and on the contrary they could sink even further because of this corruption.

[Twinkledoe]

There will be a blockchain conference in Africa next year, https://blockchainafrica.co/.

So I do hope that it will open doors to many companies around there to really used and take advantage of this technology. But I do agree that the main problem here is corruption, and as much as blockchain can be seen as a game changer today, if people behind the governments are full of corrupt officials, African nations will be having a hard to bounce back and on the contrary they could sink even further because of this corruption.

Corruption is really a big dilemma from this region. Though corruption is common in other countries, but their region is quite different. With blockchain technology, transparency will be practiced if in case they will implement this tech to their government transactions. I know, it is a long way to go but it is already a good start. Opening their doors to blockchain will somehow change their perspectives on how to deal with government transactions.

[barabarian1]

When we hear about Africa most of us assume about the poverty or unemployment but honestly the kind of natural minerals they reserve they could be one of the richest nation but the problem over there is that neither government nor the citizens get benefited by their natural reserves due to warlords occupying it but do you think if government takes stern step and utilize the resource in the appropriate way and accepts bitcoin as a payment mode for exports then Africa can bloom again and this will help bitcoin if those products can be purchased using bitcoin so it will increase the trade which will benefit them in their GDP and will increase the demand for bitcoin thus triggering the price pump.

The condition of the African continent is really pitiful. More than just Bitcoin or even blockchain, the Africans should try to revisit their very basic personal values and cultures. I don't think Bitcoin or blockchain can address the most pressing issues of the land. There is widespread poverty, corruption, wars, illiteracy, lack of basic needs, warlordism, and many more social, political, and economic problems. Africa is blessed in terms of natural resources but look at how they fare in their daily lives. They should learn to unite and move forward as one blood. Right now, the foreign companies and governments are exploiting their resources indiscriminately without even improving the lives of those people around.

yes I agree with you even though Africa has a lot of natural resources but if it is not managed properly it will be useless. most of the population is still in poor condition and the economy is also slow. but I'm positive maybe by implementing blockchain and bitcoin can make the African country better. because by applying the blockchain system can reduce corruption. at least maybe bitcoin and blockchain can drive the african economy.

[huu78]

In my opinion, if directly allow buying something with Bitcoin there will be massive inflation where their currency is not in use and more dominant use of Bitcoin as currency exchange.
Should they adopt a blockchain like China and some countries that have successfully used blockchain in their government? and other cryptocurrencies become investment means that can help unemployment as they are.

[el kaka22]

I was thinking maybe there could be help from all around the world? Bitcoin world (and crypto in general) could fund billions of dollars for stupid ICO's and that means they can afford couple million dollars for nothing. There could be hundreds of thousands of dollars easily. That is why I think if we could get money from globally then we can help smaller nations and even tribes in Africa.

There are so many nations that if you use like half a million dollars could plant trees and get water sources and basically turn into a greener and more watery place, all the need is actually solvable with money. So long story short, crypto could actually save these nations, all we need is global funding and it is actually easy and quite easy to achieve if we want to.

[doomistake]

Residents of Africa have rich reserves of minerals, precious metals. Which in their volumes can not be compared with Yakutia. Their main problem, and maybe dignity, is good for them. Fresh vegetables and fruits all year round, fishing and hunting. If the people were interested in production, they would flourish.

I agree.

With proper teaching on agriculture, Africans could cultivate their vast land and plant fruits, vegetables, and they could also build barns to start livestock. It is the easiest way and old way so they will not need a diploma on this one to make it works, all they need is funds, and of course the support of their Government to make this thing happen.

Iglesia Ni Cristo, a religious group (Church of Christ) make the first move to help Africa, and teaching them, supporting them on eco-farming for them to have a job to sustain their family and self needs.

Article here: https://incmedia.org/families-in-malawi-and-kenya-benefit-from-50000-free-food-parcels-from-the-iglesia-ni-cristo/

[abeecrypto]

I believe you meant Africa as a continent. Africa has about 54 countries. They are developing at their individual rates. They have many of those natural resources which are underused or abused due to corruption. Yet, many people in Africa have little access to basic needs, so Bitcoin is not their immediate problem. There are more pressing problems that Bitcoin.

However, diving into blockchain technology is what I believe can bring great changes to Africa. Many of the countries in Africa are already diving into the Blochchain technology. Although, very slowly, because of less commitment from the government.

For example, in Nigeria, there is the BlockchainNigeria group which brings Blockchain enthusiasts together. They have been engaging with the right institutions on how Blockchain could be leveraged. They even help train Blockchain developers. All these, with less support from the government. If there is much investment on these vibrant Blockchain developers and enthusiasts, things will move.

Nigeria's interest in Bitcoin and Blockchain is probably what led to its recent Fiat listing on Binance.

Africa is filled with dedicated and intelligent people, but with little support.

[Genemind]

The blockchain technology could actually be the most helpful tool for the economic growth of developing countries in Africa but there are still lots of things to consider. They still lack pieces of equipment to pursue crypto adaption. I guess they still have to educate people on how to enrich their natural resources before jumping into digital currency. They still have a lot to improve and discover in their natural treasures so they would have the capability to adapt the latest technology for their country.

[Pamadar]

The blockchain technology could actually be the most helpful tool for the economic growth of developing countries in Africa but there are still lots of things to consider. They still lack pieces of equipment to pursue crypto adaption. I guess they still have to educate people on how to enrich their natural resources before jumping into digital currency. They still have a lot to improve and discover in their natural treasures so they would have the capability to adapt the latest technology for their country.

Educations is the first step in order to enhance their knowledge about what they've really have inside this nation. I can agree to OP that in terms of natural resources they are rich but due to corruptions and those rich people around they are lack in terms of educating their-selves. Before they can
jumped to this new system, they need to start from getting good educations and from their they can enrich what they've deserve and not to allow
other people or their leaders to abused them. There's should be equality and give the people what they've really deserves.

[abhiseshakana]

The problem of Africa, it is not enough if only discussed, we should massively and for the solidarity of fellow human beings help solutions to the problem of poverty in Africa. Nearly 28 of the poorest countries in the world are in Africa and half of Africa's population lives below the poverty line without access to basic human rights namely food, clean water & housing. If we look at the problem of economic growth barriers in Africa are:
1. Factors of minimal investment figures in Africa, even if there is investment used for the public sector that is not important and inefficient
2. Factors in human resources, education, and health.
3. Military conflict and rebellion
4. Opening and technology education in Africa to open markets
5. Economic stagnation and economic and social inequality.

We can analyze why bitcoin has a place in Africa
- Low confidence in banks in Africa
- The majority of African governments are neutral towards the adoption of cryptocurrency

But whether adopting the cryptocurrency can solve the problem in Africa, I don't think it will look at the inhibiting factors of the African economy above.

[adzino]

When we hear about Africa most of us assume about the poverty or unemployment but honestly the kind of natural minerals they reserve they could be one of the richest nation but the problem over there is that neither government nor the citizens get benefited by their natural reserves due to warlords occupying it but do you think if government takes stern step and utilize the resource in the appropriate way and accepts bitcoin as a payment mode for exports then Africa can bloom again and this will help bitcoin if those products can be purchased using bitcoin so it will increase the trade which will benefit them in their GDP and will increase the demand for bitcoin thus triggering the price pump.

I sometimes find it really hilarious when people links bitcoin with something that doesn't even go with crypto currencies. Like how actually is it really going to help Africa by using bitcoin? What does bitcoin has to do with Africas natural resources?
To increase demand for bitcoin in Africa, they should be able to purchase it. I mean shouldn't they have the money to buy bitcoin?  Again, you should know those natural resources are not taken by the government or the warlords, its the leading countries out there that are keeping them suppressed.