Crypto-Currency in Africa

[pinggoki]

It is true that Internet access or coverage in Africa is poor compare to other Western countries. But it is not only the Internet that is the problem of Africa people to adopt bitcoin. Another problem is information and mindset. When the government has spoilt the mindset of the people and the people does not get good information.
I am saying this is because the number of people using Facebook in Africa is high. You cannot use Facebook without Internet. That mean some people use their own internet to do other things.

Not all countries in Africa don't have a poor Internet access, it's just that Western ideas and perspective are drilled in our heads that it's what we think. Corruption and civil unrest might contribute to that problem but other than that I think that if we see more African countries improve and grow, we will eventually see more crypto growth in the country because it already has a people that uses crypto there.

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[Yamifoud]

It is true that Internet access or coverage in Africa is poor compare to other Western countries. But it is not only the Internet that is the problem of Africa people to adopt bitcoin. Another problem is information and mindset. When the government has spoilt the mindset of the people and the people does not get good information.
I am saying this is because the number of people using Facebook in Africa is high. You cannot use Facebook without Internet. That mean some people use their own internet to do other things.

Not all countries in Africa don't have a poor Internet access, it's just that Western ideas and perspective are drilled in our heads that it's what we think. Corruption and civil unrest might contribute to that problem but other than that I think that if we see more African countries improve and grow, we will eventually see more crypto growth in the country because it already has a people that uses crypto there.

Corruption and bad leadership are big factors of getting behind for the development and economic growth, and this is very common to the majority. But Africans had made their way to adopt crypto despite those things and even having a slow internet connection they will still be able to survive.
So why not these people don't quit from crypto? This is because they'll know that this could help them to earn money and even just having an intermittent internet connection couldn't stop them.

[TheEconomists]

Africa being a developing continent, have deficiencies in the technological atmosphere, mostly internet and light.

Africa is not deficient in the technological scene. The continent has a fast growing internet population and a teeming amount of youths in the population who are very interested in tech.

Most of the Communities in Africa have no internet services and light to access the currency or use it for transactions.

What is your statistics on this? In Nigeria, where I am from; Internet is quite popular and has penetrated almost the entirety of the nation, same with many other African nations.

So, to what extend can everyone in Africa uses the Crypto-Currency for transaction of goods and services.

To a very large extent. The continent has a large following for cryptocurrencies and is only limited by some government policies.

Also, how can Crypto-Currency help the indigenous Fiat currencies and grow the African Nations Economy.

Cryptocurrencies cannot support economies, neither can it help fiat currencies. It is a peer-to-peer network which bypasses the need for a third party.

Many thanks for this respond to op, I would have say same thing and good that I usually go through response from members here before I respond to most of my post. I wonder why people do refer to Africa as a country as if they are more better than Africa as a continent.

[ven7net]

Last year, I worked for a crypto company that was launching a new cryptocurrency exchange and exchange token. So, the administration of the crypto company made a bet on development in Africa, which was confirmed by the presence of photos and videos from the events held. It turns out that Africa is not such a backward continent in terms of the use of cryptocurrencies and the availability of Internet services there. What I can agree with is that Africa is a promising continent, where there are many people who would really like to get additional opportunities to receive both additional income and the opportunity to use cryptocurrency as a means to restore the financial sector and financial institutions.

[macson]

It is true that Internet access or coverage in Africa is poor compare to other Western countries. But it is not only the Internet that is the problem of Africa people to adopt bitcoin. Another problem is information and mindset. When the government has spoilt the mindset of the people and the people does not get good information.
I am saying this is because the number of people using Facebook in Africa is high. You cannot use Facebook without Internet. That mean some people use their own internet to do other things.

if you use European countries as a comparison, African countries are certainly far behind in terms of technology.  In addition, in several conflict countries on the African continent, they are duping themselves, they are deliberately slow in building internet access infrastructure so that their citizens cannot access the internet, so that citizens remain under their control.  the government is an institution that is fully responsible for internet access, without equal internet access, how can citizens in African countries transact with cryptocurrencies?

[Lucius]

Last year, I worked for a crypto company that was launching a new cryptocurrency exchange and exchange token. So, the administration of the crypto company made a bet on development in Africa, which was confirmed by the presence of photos and videos from the events held. It turns out that Africa is not such a backward continent in terms of the use of cryptocurrencies and the availability of Internet services there. What I can agree with is that Africa is a promising continent, where there are many people who would really like to get additional opportunities to receive both additional income and the opportunity to use cryptocurrency as a means to restore the financial sector and financial institutions.

This is completely true, because most of the Western world has a perception of Africa as a continent where nothing has changed in the last 50 years. Yet things are much different if scratched below the surface, but the situation varies from country to country, as some countries have made considerable progress, while others have lagged far behind due to wars and corrupt governments.

When we talk about cryptocurrencies as something that can help Africa as a continent, then we should keep in mind the other side of the story - and we know that some choose the wrong path and involve in scams - because to be honest, most crypto projects actually serve no purpose except that the individuals on them get rich as quickly as possible. What I would like to see is that it happens that some African country is trying to do something similar to El Salvador with Bitcoin, which would give people a chance to prosper without having to worry about doing something legal or not.

Some interesting data speak in favor of Africa's development as a continent :

Since the beginning of 2015, Africa has experienced more than 27 leadership changes, highlighting the continent-wide push for greater accountability and democracy. Countries like Mauritius, Botswana, Cape Verde, Namibia, and Ghana rank relatively high as politically stable, democratic countries.

These countries, as well as other rising democracies across Africa, serve as encouragement to international partners that stability can be achieved throughout the continent. Across Africa, governance has improved considerably since 2000. Thirty-four countries, home to 72 percent of Africa’s citizens, have improved their governance performance over the last 10 years, and significant improvements have been seen in participation, rule of law, and rights, among other categories. Over the past five years, many countries have also shown improvements in transparency and accountability.

Since 2000, the number of African children enrolled in primary school has increased from 60 million to 150 million.
Adult literacy rates are up by almost 10 percentage points from 1995, and the gender gap in literacy is shrinking, partially driven by massive improvements in gender parity in school enrollment. However, this gender parity has to shrink further, especially in the sciences, if African countries are to make further economic, political, and social gains