Why Africa needs a single digital currency to prosper.

[serjent05]

as someone who posted above said well, we already have digital currency in africa, so your project has nothing good and new to change in africa and i say more, you don't know africa, african leaders who are mostly liar leaders and corrupt people love dictatorship and controlling everything, your currency would not be something that African leaders would approve, they would reject it soon and could even consider it a crime to use your altcoin, this is different from the bitcoin case where most African leaders are still undecided about what should do, but this indecision is because they still want to see what countries like the USA and the European Union will do

This might be a harsh word but I think the project is another creation with a money grab imprinted on it.  Indeed, Africa already had a digital currency, if they wanted decentralized, there is Bitcoin to turn to.  I do not think that there is another need for Digital currency that isn't issued by the government. 

[trendcoin]

Also, I know that some parts of Africa do not have access to the financial system. Cryptocurrencies are an excellent experimental field for these particular regions. I hope everyone understands that we extremely need Bitcoin.

There is no part of Africa or the world mate that lacks a financial system of some sort, how possible is that, there has to be a financial system in place in every part of the world for trade (both foreign and domestic) and commerce to take place.
...

I actually meant to say "access to financial services" but I admit I was a bit of a misnomer. https://twitter.com/worldbankafrica/status/1002901452237524997 Where there is less access to the financial system, the volume of trade is also low. In the world order we live in, economic volumes determine the level of development. Cryptocurrencies could be an excellent experimental field for these regions.

[samcrypto]

We already have currencies that can be used to carry out payments that can be used worldwide depending on the countries acceptability - such as Bitcoin, Ethereum, Binance coin, etc. IMO, what Africa needs is Education and Industrialization. With more learned people, coupled with good leadership, Africa will be on its way to being industrialized and more people being employed.

That’s the best option for them, top coins can always deliver and we have to adopt them instead of creating their own currency. I’ve read some articles about the economic growth of Botswana and I think African countries should learn from this and they should start making their country rich and aways from poverty. Educating them about cryptocurrency is also a big thing, we cannot just give any currency to them without educating them because it will be useless, Africa is a rich nation with their natural resources, they should start focusing on that.

[Piesel]

For a continent to have a single currency, one of the basic components needs a high political will because there will be a need for strict compliance with the currency regulation, but then blockchain has made it easy for that to be achieved with a minimal budget but the challenge is in the differences in the views of member African countries.

While some of them already have an existing digital currency but have declined the adoption of blockchain in the creation and operation of that digital currency so they can't be referred to as cryptocurrency.

[Papillion]

you carrying tribal totem towards wooden fence

[cryptomaniac_xxx]

as someone who posted above said well, we already have digital currency in africa, so your project has nothing good and new to change in africa and i say more, you don't know africa, african leaders who are mostly liar leaders and corrupt people love dictatorship and controlling everything, your currency would not be something that African leaders would approve, they would reject it soon and could even consider it a crime to use your altcoin, this is different from the bitcoin case where most African leaders are still undecided about what should do, but this indecision is because they still want to see what countries like the USA and the European Union will do

This might be a harsh word but I think the project is another creation with a money grab imprinted on it.  Indeed, Africa already had a digital currency, if they wanted decentralized, there is Bitcoin to turn to.  I do not think that there is another need for Digital currency that isn't issued by the government. 

And it's more on the government side though, I mean if there is corruption and there are no infrastructure and support from them, as much as there are a lot of digital currencies, I think it will still be a failure for Africa.

So first the government should stop pocketing the money, and let them build and lay the foundation and groundwork, infrastructure before they decide whether it's good to have a single digital currency or just choose the likes of BTC as their crypto, easy as that. But without the government support, nothing will prosper, just saying.

[o48o]

Does Africa need a single digital currency to prosper.

1) Transaction is instant. This eliminates cash flow issues for small traders in Africa. Transaction cost is minute, with no monthly bank fees. All transactions are visible for everyone to see on the Blockchain. No confusion about whether the payment was made or not.

2) By managing your own finances makes you understand money better. Once you understand the money you become more business savvy. Once you are business savvy your chances of getting out of poverty will increase. [.

3) The need to understand technology is eliminated since the whole operation is done inside the wallet. Makes it easy for a rural farmer with very little technical knowledge can still manage his own money properly.

4) The ability to trade internationally will open up a huge market for small businesses in Africa. Imagine the size of the market for a small trader selling local artefacts to 8 Billion potential customers.

5) Every African with a mobile phone can buy and sell products internationally instantly.

On top of that these projects think Africa needs a single digital currency.

Akoin | Oduwa Coin | AlkebuLAN | Sango

If you think Africa needs a single digital currency support these projects.

Why wouldn't bitcoin accomplish same exact goal? You don't need to understand the tech in btc to use it either.

And how does being your own bank benefit Africa as a region? That doesn't make any sense. I don't think that major problems in africa right now are the the lack of possibility to make internet shops. And even those could be They can be done better without Akoin (or without any new weird coin). Preferably it international crypto shops can be accomplished with existing currencies that have liquidity ready for big players. Using some new currency without decent liquidity looks just like what it is. A scam.