Topic: [2016-09-21] Africa Proving Bitcoin Is So Much More Than Just Remittances (Read 306 times)
September 21, 2016, 01:21:10 AM
Actually, bitcoin is not dead in Africa, Beam or not. There are so many Africans trading bitcoins on localbitcoins.com
September 20, 2016, 08:11:22 PM
Remember “bitcoin for remittances”. It was huge a little while ago. Companies like Beam from Ghana and Kenya’s BitPesa were going to use bitcoin to make the sending and receiving of money faster and cheaper for everyone.
It didn’t work that way. Beam ditched bitcoin. BitPesa pivoted from remittances. Other companies shut up shop almost as quickly as they had opened.
Using bitcoin may well have been a more efficient and cheaper way of sending money than, say, using Western Union. But the fact is people didn’t understand it, and more importantly, didn’t trust it. The legacy of Mt. Gox is too powerful.
Bitcoin in Africa is dead. Long live bitcoin.
https://afkinsider.com/132991/africa-proving-bitcoin-is-so-much-more-than-just-remittances/
It didn’t work that way. Beam ditched bitcoin. BitPesa pivoted from remittances. Other companies shut up shop almost as quickly as they had opened.
Using bitcoin may well have been a more efficient and cheaper way of sending money than, say, using Western Union. But the fact is people didn’t understand it, and more importantly, didn’t trust it. The legacy of Mt. Gox is too powerful.
Bitcoin in Africa is dead. Long live bitcoin.
https://afkinsider.com/132991/africa-proving-bitcoin-is-so-much-more-than-just-remittances/
Jump to: