Topic: Can Blockchain Bring change into Africa? - page 3. (Read 837 times)

I don't think it will. Decentralization means individuality and the government purpose was to unite and make progress to the country they govern. Though bitcoin can be good to them but it doesn't mean they have to be decentralized as well. It will surely be a problematic society greed everywhere will start to occur as everybody wanted to be on the top.

1) Even the poorest countries suffer from corruption. Not only economic growth is being affected but also the well-being of the people.
2) Well, 'cause you know "politics". They don't actually take "all" the money, just lump sum(s) of it. How'd they do that you ask, I could think of a couple of ways, for instance, thinking ahead--by intentionally asking for funds that does not actually cost that much. They will still use the "supposedly" designated funds but the rest will go to their bank accounts.
3) Putting up a penalty doesn't really do much, they would just hire extremely good lawyers to get away with it (aka money-laundering). What Africa really needs IMO is social stability.


Can we have a source for this? To justify your answer and as well as provide information.


1) It's continents, North Africa and South Africa to be precise.
2) What did you expect? Compare to Japan and China, which both countries have a really good civilization ever since--in tradition, science, and military. In Europe, of course, they also have a really rich history here and there. While in Africa, they've been treated "differently" (disclaimer, I'm not belittling them I'm stating facts)--of course they wouldn't be that civilized as their counterpart countries (or continents).


I wonder how well these "projects" are right now.


1) African people aren't that uncivilized, you'd be surprised how well-educated their people are.
2) How can you be so sure about this? Can you provide a "concrete reasoning" and "practical" statement that will support your claims?

Before implementing something it is a must to civilize the people. In specific basic education and technology associated knowledge needs to be provided. The future will be completely functional on blockchain, and in countries like Africa through blockchain technology the corruption can be decreased, and a better management can be developed. First thing education, then it is all about the change it can make.

Africa is a very large country, diamonds can be mined there, lots of it. When it comes to their economy, we all know how unstable it is just like all the other countries in the world. If we are going to put our hope on blockchain to make a change into Africa, we should be well aware that technology out there is not as advanced and as well managed as we have on countries like Japan, China and Europe. Having that fact makes us jump into conclusion that Africa should be civilized more first before testing crypto to improve their economy.

If you look at the recent approval of Binance by accepting the fiat-to-crypto gateway for Nigeria’s Niara shows how there is an impact for bitcoin in Africa, if an exchange is to add Niara as a trading pair then it is possible that the trading volume is higher. So it is accepted in the African region and it will make an impact in the economy.

Decentralization is a very useful thing, especially in those countries where there is a high level of corruption and inflation. I think that not only Africa can help blockchain, but Africa may be one of the first to try to fundamentally change its amenities and quality of life using blockchain technology. Of course, success will depend on the spread of this idea among the population. Indeed, detailing is not beneficial for the government, because it significantly complicates the management of the population. One way or another, Africa can be a good example for developing countries and countries with already developed economies.

MPesa only happened because the telecoms regulators in Kenya gave the green light. Once they gave permission, the mobile phone networks quickly developed the MPesa network and it works smoothly without the govt having to intervene.

So open-minded governments are the key.

Just like any other country that is doing well today, corruption has been a very big challenge to economic growth. People in power misuse money meant for projects that will develop the country. So if this can stop or a stronger penalty backed with political willingness to execute the penalty, then Africa will be better for it.

It could happen if African people can think about their future and not just for a short time, but they also think about a long time. They can adopt cryptocurrency, and I am sure that they have resources that could help them to grow in using cryptocurrency. But that will depend on how they can accept cryptocurrency as a new thing because to have an open mind about something new will need a big effort to do. Besides that, they need to have a good motivator that can help them realize the potency that they have to change their life to a better life.

Bitcoin can change Africa economic situation, if they want to adopt bitcoin as transaction payment maybe African country will the same with europe country, they can take benefit if using bitcoin and altcoin as e currency payment. Africa have big potential to chance from economic condition from now if adopt bitcoin as legal transaction payment,

Africa is a potentially very powerful region. And I know that many companies go to this continent in order to gain an audience because people are very poor and dream of getting rich quick. As far as I know, Africa even has its own SouthXchange — https://neironix.io/exchanges/southxchange
but so far it is not popular judging by the volume of trading.

If blockchain technology is used with an aim of stabilizing the economy by minimizing corruption then it will help the nation but what if those colonial leaders don't want to give up corruption? They will never accept blockchain,  I feel bit coin can help semi autonomous nation like Somali land as they are a developing nation and government their works for betterment of people and blockchain technology will help them to make lives easier and data accessible to everyonebif everything is based in blockchain I mean government's financial transactions.

Their nature being decentralized? I don't think so. Blockchain is a technology created to alleviate people's way of living but not to extend it can get their power back against colonial people. We're talking about decentralization but let's not forget that blockchain technology also has limitations. Technology might help them but it's not the main factor. What they need to achieve their power back is to use their power as individuals.

Could possibly be. Because blockchain can change everything as my life now relies only on cryptocurrency.
China also gives interesting news that they need to use or adopt a blockchain for their governance. So it is possible if Africa wants to use such technology.

They have the power to say no. Have you seen Hong Kong against mainland China? Well, it's not really the issue here but definitely they can retaliate with these major countries. They are blinded with money, they thought that money solves everything in a poor country like theirs (well, not exactly poor--some of 'em are well developed).

First of all, they need to fix their social issues. Well, discrimination exists everywhere but their case is massive. From what I've seen in the news and articles that I've read, they are very disorganized--undisciplined. They always rely on these massive countries particularly the US and EU. Sure they definitely help them by means of giving medicine and healthcare services or provide rations to remote towns/villages but that doesn't really help them in the long run, if they provide something like education or equipment start their own development, that's what will make the country be a lot more civilized--developed. And their politics(?), it's such a mess, lots of corruption here and there, being puppets by the other countries. That's also the reason why a lot of rebels exist in Africa, though I don't promote terrorism/violence, they are the ones who retaliates from these ill governments.

So blockchain isn't really going to help them, not at this point at least.

Another factor, which may be bigger than the deeply-rooted corruption in many African countries, is the manipulation and influence of powerful countries especially western countries on them. Many African leaders are puppets of huge companies or powerful governments. These local leaders are elected out of the money of these external powerful players. Their local resources are developed, exploited, and taken out from them by foreign powers. Do they really have the power to say no? I don't think so. If blockchain will stop this problem, then blockchain will not be able to enter their territories.

The vast majority of the African leaders are corrupt and that is the reason why 99% of the population still lives in poverty even though the continent is very rich in natural resources. Take the case of Nigeria for example. This country has huge deposits of crude oil and natural gas, but even then the vast majority of the people still lives in abject poverty.

And this means that the politicians will stand against the integration of Blockchain technology in crucial domains, such as banking and stock market. If it is implemented, then Blockchain will make it possible to track the dirty money being accumulated by these people.

I am not pretty sure but if we will going to think about it deeply, the main reason why africa will going to have a difficulty in adopting to cryptocurrency and the blockchain is because they somehow lack in resources that they can use to utilize cryptocurrency. In addition, spreading of news and updates to them will be hard in relation to the first reason. Maybe bitcoin and other cryptocurrency ATM will solve their problem.

yes I agree with you with the application of blockchain technology, financial transactions will be more transparent and can reduce corruption. and when Africa can apply blockchain technology well in industry and banking. I am optimistic that blockchain can improve the economy of the African nation. because the process of all transactions can be done safely, transparently, quickly and at a lower cost.

The blockchain will bring matches everywhere, and therefore also in Africa. It is all to be proved, however, that these changes are positive, because if decentralization - as likely - is only apparent, then this will mean even more control, instead of freedom.