Topic: Africa - Hidden Treasure for the world and bitcoin - page 4. (Read 481 times)
Blame it to the country that is backing these corrupt government officials. There is an election to these African countries but most of the time the officials who won are the ones that really are corrupt and this has been going on to poor countries. It will took them centuries to finally see the truth they are lied and manipulated believing EU had helped them. For bitcoin and blockchain to be able to help, they wold have to fix the government first otherwise it will still be mess.
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.
Africa is a giant continent, and some parts of Africa are doing extremely well.
Kenya is growing extremely fast - 5.6% per annum:
https://tradingeconomics.com/kenya/gdp-growth-annual
It's only the countries around the Sahara that are doing badly for obvious reasons (no water, extreme heat).
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.
It's a country with huge amounts of potential, and they definitely have a shit-ton of natural resources, and we can see them living up to their potential in recent years, due to the constant growth in GDP.Even though Africa has one of the biggest populations, and has a lot of people in it using BTC as a payment option and storage of value, their biggest problem would be infrastructure. It's being conquered by the companies working there, and the government haven't really been of much help and haven't really been able to help people there - mostly relying on governments.
It is quite pitiful that the government doesn't start helping since the venture of letting africa improve is very difficult. In their eyes that is.
I don't think the government elite in African countries think it's very difficult to improve the economical situation there, but just that it will cost a lot of money.... money they rather enrich themselves with. It has been happening for decades now that African countries have been going backwards economically despite the potential that has always been there.... people there need less government to improve, not more.
What do you expect? The continent has been exploited for a century now, and to be able to get back on track, it will take centuries as well. And the problem is that as the economic and political turmoils sinks, and so as their hope of revival.
Government officials are corrupt, rich getting richer, and the poor become poorer. That's the sad state of Africa, although many inter-cooperation from other countries to help them alleviate their problems, it might takes years and years just to rehabilitate them.
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.
It is quite pitiful that the government doesn't start helping since the venture of letting africa improve is very difficult. In their eyes that is.
I don't think the government elite in African countries think it's very difficult to improve the economical situation there, but just that it will cost a lot of money.... money they rather enrich themselves with. It has been happening for decades now that African countries have been going backwards economically despite the potential that has always been there.... people there need less government to improve, not more.
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.
Bitcoin's usefulness in the economy is that it is limited and everything is in front of the eye. How do you think BTC can help any country that can not mine its natural minerals? I am sorry, but I think the BTC is capable of providing other benefits to the economy. Making some decisions by governments could improve its economy. If so much minerals lies beneath the soil, the only culprit is the government.
There are many countries in the African continent, which countries you referring to?
Countries in North Africa and the South African Republic seems not classified as a poor country.
The main problem is every country has its own fiat currency, why bother to accept volatile bitcoin as payment? They would rather accept dollars than bitcoin.
Countries in North Africa and the South African Republic seems not classified as a poor country.
The main problem is every country has its own fiat currency, why bother to accept volatile bitcoin as payment? They would rather accept dollars than bitcoin.
Africa could actually have a great venture with BTC since they have pretty much the market to accomodate its entrance plus it could greatly help the current economy they have. It is quite pitiful that the government doesn't start helping since the venture of letting africa improve is very difficult. In their eyes that is.
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.
That's true, there is another issue other than bitcoin and blockchain that they need to overcome. Not only implementing cryptocurrenct but also their economic problem and basic personal needs. They are rich in natural resources but it is not well distributed and many are still suffering. Fixed and overcome first those basic problems and the bitcoin will follow. It is surely a hidden treasure for bitcoin and economy but help them first.
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.
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.
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