Africa - Hidden Treasure for the world and bitcoin - page 3.

barabarian1

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Quote from: NathanJB on October 31, 2019, 03:14:05 AM

Quote from: Wysi on October 31, 2019, 02:18:16 AM

When we hear about Africa most of us assume about the poverty or unemployment but honestly the kind of natural minerals they reserve they could be one of the richest nation but the problem over there is that neither government nor the citizens get benefited by their natural reserves due to warlords occupying it but do you think if government takes stern step and utilize the resource in the appropriate way and accepts bitcoin as a payment mode for exports then Africa can bloom again and this will help bitcoin if those products can be purchased using bitcoin so it will increase the trade which will benefit them in their GDP and will increase the demand for bitcoin thus triggering the price pump.

The condition of the African continent is really pitiful. More than just Bitcoin or even blockchain, the Africans should try to revisit their very basic personal values and cultures. I don't think Bitcoin or blockchain can address the most pressing issues of the land. There is widespread poverty, corruption, wars, illiteracy, lack of basic needs, warlordism, and many more social, political, and economic problems. Africa is blessed in terms of natural resources but look at how they fare in their daily lives. They should learn to unite and move forward as one blood. Right now, the foreign companies and governments are exploiting their resources indiscriminately without even improving the lives of those people around.

yes I agree with you even though Africa has a lot of natural resources but if it is not managed properly it will be useless. most of the population is still in poor condition and the economy is also slow. but I'm positive maybe by implementing blockchain and bitcoin can make the African country better. because by applying the blockchain system can reduce corruption. at least maybe bitcoin and blockchain can drive the african economy.

Twinkledoe

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Quote from: TravelMug on October 31, 2019, 06:58:07 PM

There will be a blockchain conference in Africa next year, https://blockchainafrica.co/.

So I do hope that it will open doors to many companies around there to really used and take advantage of this technology. But I do agree that the main problem here is corruption, and as much as blockchain can be seen as a game changer today, if people behind the governments are full of corrupt officials, African nations will be having a hard to bounce back and on the contrary they could sink even further because of this corruption.

Corruption is really a big dilemma from this region. Though corruption is common in other countries, but their region is quite different. With blockchain technology, transparency will be practiced if in case they will implement this tech to their government transactions. I know, it is a long way to go but it is already a good start. Opening their doors to blockchain will somehow change their perspectives on how to deal with government transactions.

TravelMug

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There will be a blockchain conference in Africa next year, https://blockchainafrica.co/.

So I do hope that it will open doors to many companies around there to really used and take advantage of this technology. But I do agree that the main problem here is corruption, and as much as blockchain can be seen as a game changer today, if people behind the governments are full of corrupt officials, African nations will be having a hard to bounce back and on the contrary they could sink even further because of this corruption.

Kyraishi

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Quote from: 1Referee on October 31, 2019, 05:24:52 PM

Quote from: Wysi on October 31, 2019, 04:49:05 PM

It's really sad to see their situation eventhough they have rich natural reserves

It may seem like so from a distance, but most of the areas with relatively easy to extract resources such as Gold and oil are in the hands of foreign governments and private investors.

Exactly. It's not sure they are lacking technology, or lack manpower, etc. They are a huge nation that could definelty rise up to the ranks of China/America and their recent growths in GDP reflects so.

Corruption is huge in Africa. A lot of the government are all bought and paid for by other companies and it's impossible to get anything done unless you make a "donation" to certain people.

Quote from: 1Referee on October 31, 2019, 05:24:52 PM

African countries have been underselling themselves for decades now. For every dollar they get for their Gold and oil rich areas, hundreds are being extracted to end up in the pockets of governments and investors outside the continent of Africa. No wonder most African countries are so poor. In the crypto world we refer to this as getting yourself rekt.

Venezuela for example has the largest oil reserve in the world, but is going through a horrible recession with mind-boggling hyper inflation. Roll Eyes

Corruption, corruption, corruption...

1Referee

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Quote from: Wysi on October 31, 2019, 04:49:05 PM

It's really sad to see their situation eventhough they have rich natural reserves

It may seem like so from a distance, but most of the areas with relatively easy to extract resources such as Gold and oil are in the hands of foreign governments and private investors.

African countries have been underselling themselves for decades now. For every dollar they get for their Gold and oil rich areas, hundreds are being extracted to end up in the pockets of governments and investors outside the continent of Africa. No wonder most African countries are so poor. In the crypto world we refer to this as getting yourself rekt.

Venezuela for example has the largest oil reserve in the world, but is going through a horrible recession with mind-boggling hyper inflation. Roll Eyes

Wysi

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Quote from: NathanJB on October 31, 2019, 03:14:05 AM

Quote from: Wysi on October 31, 2019, 02:18:16 AM

When we hear about Africa most of us assume about the poverty or unemployment but honestly the kind of natural minerals they reserve they could be one of the richest nation but the problem over there is that neither government nor the citizens get benefited by their natural reserves due to warlords occupying it but do you think if government takes stern step and utilize the resource in the appropriate way and accepts bitcoin as a payment mode for exports then Africa can bloom again and this will help bitcoin if those products can be purchased using bitcoin so it will increase the trade which will benefit them in their GDP and will increase the demand for bitcoin thus triggering the price pump.

The condition of the African continent is really pitiful. More than just Bitcoin or even blockchain, the Africans should try to revisit their very basic personal values and cultures. I don't think Bitcoin or blockchain can address the most pressing issues of the land. There is widespread poverty, corruption, wars, illiteracy, lack of basic needs, warlordism, and many more social, political, and economic problems. Africa is blessed in terms of natural resources but look at how they fare in their daily lives. They should learn to unite and move forward as one blood. Right now, the foreign companies and governments are exploiting their resources indiscriminately without even improving the lives of those people around.

Exactly, It's really sad to see their situation eventhough they have rich natural reserves and moreover you might see inequality like one person will strive to get bread in his table wherein others live in palaces and enjoys their life king size especially politicians and war lords. The worst part over there is that they don't listen to public and just crush the protests or demands with iron fist. UN needs to intervene and do some justice as Africa can be a golden valley of the world if the resources are utilized in proper way and spent on public infrastructure and welfare.

doomistake

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Quote from: Wysi on October 31, 2019, 02:18:16 AM

When we hear about Africa most of us assume about the poverty or unemployment but honestly the kind of natural minerals they reserve they could be one of the richest nation but the problem over there is that neither government nor the citizens get benefited by their natural reserves due to warlords occupying it but do you think if government takes stern step and utilize the resource in the appropriate way and accepts bitcoin as a payment mode for exports then Africa can bloom again and this will help bitcoin if those products can be purchased using bitcoin so it will increase the trade which will benefit them in their GDP and will increase the demand for bitcoin thus triggering the price pump.

Their Government could start it with fiat, their Government is too weak on my opinion to put a resolve on their general problem, resulting to their citizens to move on their own. Those who have the power to mine their minerals are abusing it, making it illegal to make more money, the exploitation of their minerals is the problem, being in a poor country makes you selfish.

More than 50% of their population is only making below $1 per day, imagine how ironic is that. The majority don't have the power, and those who have the power are not using it to benefit the majority instead they use it to benefit only themselves.

Naida_BR

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Quote from: Wysi on October 31, 2019, 02:18:16 AM

When we hear about Africa most of us assume about the poverty or unemployment but honestly the kind of natural minerals they reserve they could be one of the richest nation but the problem over there is that neither government nor the citizens get benefited by their natural reserves due to warlords occupying it but do you think if government takes stern step and utilize the resource in the appropriate way and accepts bitcoin as a payment mode for exports then Africa can bloom again and this will help bitcoin if those products can be purchased using bitcoin so it will increase the trade which will benefit them in their GDP and will increase the demand for bitcoin thus triggering the price pump.

Africa is a very rich continent, but there are a lot of coercive leaders among the African countries which do not care about their people.
I think that this can change only by uniting all the African nations and protect against them. Taking control of the political scheme will reverse this condition and of course Bitcoin might be proven a strong tool-weapon for this revolution.

Eclipse26

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Africa needs to develop other factors first before focusing on technological advancement. The main problems they're facing probably are poverty and education which the government of Africa needs to focus on first. If education will be provided to the youth, then it's up to the youth how they will contribute to their country on making it better in the future. If they were given a good education then they can learn the knowledge about technology that they need first before understanding blockchain and bitcoin. Because it will be hard for them to adopt bitcoin when they don't know how it works.

PavelMed

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Residents of Africa have rich reserves of minerals, precious metals. Which in their volumes can not be compared with Yakutia. Their main problem, and maybe dignity, is good for them. Fresh vegetables and fruits all year round, fishing and hunting. If the people were interested in production, they would flourish.

imstillthebest

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Quote from: teosanru on October 31, 2019, 10:06:02 AM

I think the whole world is a treasure.

you mean to say every country has thier own treeasure ? thats true because one country can have a product like this , that they can only be find on thier country but not on the other and other country do also have thier own reseources which cant be find on the other , and so on .

Quote

You just need to find a good treasure hunter who needs to find the treasure hidden.

this is true again . not just knowledgeable people to do the work but also the people that are honest so that he wont keep what he find .

bitcoin and cryptos can be a good medium of exchange for all parts of the world not just on africa , to buy and sell ones treasure or resources .

teosanru

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Quote from: Wysi on October 31, 2019, 02:18:16 AM

When we hear about Africa most of us assume about the poverty or unemployment but honestly the kind of natural minerals they reserve they could be one of the richest nation but the problem over there is that neither government nor the citizens get benefited by their natural reserves due to warlords occupying it but do you think if government takes stern step and utilize the resource in the appropriate way and accepts bitcoin as a payment mode for exports then Africa can bloom again and this will help bitcoin if those products can be purchased using bitcoin so it will increase the trade which will benefit them in their GDP and will increase the demand for bitcoin thus triggering the price pump.

I think the whole world is a treasure. You just need to find a good treasure hunter who needs to find the treasure hidden. Africa's natural resource hasn't been utilized properly so far and as far as there is western domination Africa won't develop anytime soon. You would just see this major world countries buying all these natural resources and manufacturing the resource in their countries and then developing their own countries. Only a proper development of education in the country will bring technological advancement in the country and only then you will see how will they adopt bitcoin and cryptocurrencies.

clickerz

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Quote from: dimonstration on October 31, 2019, 07:53:25 AM

Quote from: ecnalubma on October 31, 2019, 05:55:50 AM

There are a lot of problem needs to fixed in Africa including social, polical and cultural. The people should unite as one, give importance to their cultural values and stop the hatred that resulted to long ethnic wars. Naturally Africa is very blessed continent in terms of natural resources, they just have to fight for it for their benefit Blockchain is just a bonus.

Their should be someone in every government in Africa who have knowledge in technology to be able for them to use their resources, they should use their resource for their peoples benefit. Applying blockchain can help if it's really designed to benefit every country in Africa. Someone who is smart enough to explain and show it's potential for their continent can make a big change in their today's status.

I think there are several blockchain projects in Africa before, I wonder what happens.What we really need right now is really an adoption and Africa is a very good candidate to utilize this new financial technology.They are an emerging market and also has exploding mobile user growth which means millions can use this mobile/crypto wallet and explore its potential,ease of use,and convenience.The African continent can really benefit from this technology.

airdnasxela

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I do believe as well that Africa is a very rich country when it comes to natural resources. It may seems like a poor country, it's because they lack of development. But if they were to utilize their resources very well, they can really make improvements about their economy. But I don't think that bitcoin will be the main purpose for their development. Because if their government knows how to maximize what they have, they can make an improvement and development even without bitcoin. Bitcoin is just an additional to a country's technological development.

audaciousbeing

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Quote from: Wysi on October 31, 2019, 02:18:16 AM

When we hear about Africa most of us assume about the poverty or unemployment but honestly the kind of natural minerals they reserve they could be one of the richest nation but the problem over there is that neither government nor the citizens get benefited by their natural reserves due to warlords occupying it but do you think if government takes stern step and utilize the resource in the appropriate way and accepts bitcoin as a payment mode for exports then Africa can bloom again and this will help bitcoin if those products can be purchased using bitcoin so it will increase the trade which will benefit them in their GDP and will increase the demand for bitcoin thus triggering the price pump.

I don't know which Africa you talk about but the African countries I know that have the numbers to make the push are not ruled by warlords. For example South Africa is not rule by a warlord, Nigeria which is the most populous African nations is not also rule by a warlord the same goes for Ghana among other countries. The problem with Africa is the lack of adequate leaders and the structures is not enough to push for the expected change. Majority of African countries didn't get independence until the 1940s-1960s where USA has had hers for centuries and they have been developing and putting structures in place till this day and other advanced countries across the world. Until when this fundamental things are put in place, Africa will still be rallying within the same space but with time, it get to achieve its goals.

bering

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Africa just like a sleeping giant because they natural mineral such as gold, petroleum, natural gas and copper were available to mine in africa with unlimited supply but why most of their citizen so poor until now and i heard too the corruption was very bad at there and indeed they're very potential for crypto market but as most of countries at there were dominated by poor countries so they don't have facilities such as internet connections to support crypto development

Suslived

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Quote from: Wysi on October 31, 2019, 02:18:16 AM

When we hear about Africa most of us assume about the poverty or unemployment but honestly the kind of natural minerals they reserve they could be one of the richest nation but the problem over there is that neither government nor the citizens get benefited by their natural reserves due to warlords occupying it but do you think if government takes stern step and utilize the resource in the appropriate way and accepts bitcoin as a payment mode for exports then Africa can bloom again and this will help bitcoin if those products can be purchased using bitcoin so it will increase the trade which will benefit them in their GDP and will increase the demand for bitcoin thus triggering the price pump.

I agree with you, with a robust and efficient payment such as bitcoin, surely there is so much room for Africa's economy to grow. If not for the novelty of bitcoin alone, there will be for sure a lot of demand to buy Afrcian exports and products.

Africa has so much potential and is really cool, except it's so hot.

Ayiranorea

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This is true, Africa is the continent which is covered with natural resources. The lack of governance and the divide and rule system made them to suffer. Finally to evade the natural resources the first world countries created fight within them based on religion and other issues. If the natural resources were used, or channeled in the right way Africa might have stood strong in its economic development. Even now there are people who are good enough and wealthy enjoying good health and wealth in a better margin than the grown countries.

dimonstration

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Quote from: ecnalubma on October 31, 2019, 05:55:50 AM

There are a lot of problem needs to fixed in Africa including social, polical and cultural. The people should unite as one, give importance to their cultural values and stop the hatred that resulted to long ethnic wars. Naturally Africa is very blessed continent in terms of natural resources, they just have to fight for it for their benefit Blockchain is just a bonus.

Their should be someone in every government in Africa who have knowledge in technology to be able for them to use their resources, they should use their resource for their peoples benefit. Applying blockchain can help if it's really designed to benefit every country in Africa. Someone who is smart enough to explain and show it's potential for their continent can make a big change in their today's status.

blckhawk

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I think that what sets back Africa from improving their living is primarily because of corrupt practices, not only within their government but other countries that pressures them and uses their resources to their advantage while still making Africa's economy down. Capitalists rule the country for natural resources, and leaders blinded by greed and do decisions for his own good rather than for the people is what's stopping a country to thrive.

Bitcoin could help but on government level first, normal people can't have access to the tools used to even know what it is. It could be used for transactions outside of their country. But as stated earlier, you can't solve the problem if the leader who is suppose to act, does not even want it because of greed.

Topic: Africa - Hidden Treasure for the world and bitcoin - page 3. (Read 481 times)