[2016-01-06] How fast is Africa's mobile money market moving?

Kprawn

legendary

Activity: 1904

Merit: 1074

The problem with the current mobile money market in Africa is that they are betting on the wrong horse. {M-Pesa} You cannot for one moment believe that your money

will be safe with a centralized service. If the governments wants to stop M-Pesa for some or other reason, they could simply force the cellphone companies to close their

business or to transfer all money to them. Take Zimbabwe as a example.... They forced farmers off their land and nobody stopped them. Bitcoin is the answer, but they

will ban it before it takes off. Roll Eyes

bitcoinear

full member

Activity: 126

Merit: 100

Agree. This is one of the biggest potential for Bitcoin. Also the refugees which transfer billions of dollars to there relatives at home. They currently use services like WesterUnion which charge up to %20 - depending on the country.

Quote from: coinzat on February 06, 2016, 07:28:26 AM

I think Africa and all other developing countries are the future of bitcoin because people from these countries are transferring money usually to their relatives with WU and Money Gram, but when they know about bitcoin they will start using it to avoid such high fees

coinzat

sr. member

Activity: 434

Merit: 250

Young but I'm not that bold

I think Africa and all other developing countries are the future of bitcoin because people from these countries are transferring money usually to their relatives with WU and Money Gram, but when they know about bitcoin they will start using it to avoid such high fees

HardFlaccid

member

Activity: 84

Merit: 10

How fast is Africa's mobile money market moving?

ICT analyst Adrian Schofield says the mobility of labour in Africa between the poorer and more developed economies has traditionally created a strong remittances market, much of it in cash, carried across borders in person or using "trusted" carriers. More formal transfers using companies like Western Union and the banks would be more reliable, but the charges were expensive.
Schofield adds that the arrival of the mobile phone began to change the market and from the early days of airtime transfers, has developed to the emergence of money transfer systems like M-Pesa, MTNMMO supported by the network providers, and also alternative money systems like Bitcoin.

http://www.itwebafrica.com/mobile/339-africa/235816-how-fast-is-africas-mobile-money-market-moving

Topic: [2016-01-06] How fast is Africa's mobile money market moving? (Read 350 times)