Africans rarely use Bitcoin payment services as they don’t trust Bitcoin as a currency. Lorien Gamaroff, CEO of Bankymoon, stated to CoinTelegraph that African residents don’t use services that offer the option of Bitcoin payments for utility bills and others because they just don’t trust cryptocurrency. Nevertheless, this could be the perfect alternative to the traditional banking system, especially considering the fact that most of Africa's population is unbanked.
South Africa-based startup Bankymoon offers different solutions for utility bill payments that support Bitcoins and other known cryptocurrencies. They even offer utility payments via smart contracts. It allows users to conduct payments without involving third parties and, consequently, to avoid additional fees.
Read more : http://cointelegraph.com/news/116073/why-south-africans-dont-trust-bitcoin-to-pay-utility-bills
Topic: [2016-01-17] Why South Africans Don’t Trust Bitcoin To Pay Utility Bills (Read 242 times)
January 17, 2016, 09:16:55 AM
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