Can Blockchain Bring change into Africa? - page 7.

rocku12345

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Quote from: skyline247 on October 01, 2019, 05:19:18 PM

blockchain can definitely bring change to Africa. They only need to invest in blockchain now, and in a few decades, Africa will be the richest continent on the planet. Because they will own most of the Bitcoin. Well, maybe not most of the BTC, but they can make their own cryptocurrency and the price will rise a lot, and their citizens will become rich.

You say that blockchain should be implemented today in Africa, but a lot of people there don’t even have a smartphone... I imagine a situation when a large family that doesn’t even have enough money for normal nutrition will use modern "AfricaChain" system in the market.
It sounds pretty funny, but first world community needs to bring physical benefits to people. Various corporations have been exploited them for centuries and today in many countries there is no developed infrastructure.

skyline247

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blockchain can definitely bring change to Africa. They only need to invest in blockchain now, and in a few decades, Africa will be the richest continent on the planet. Because they will own most of the Bitcoin. Well, maybe not most of the BTC, but they can make their own cryptocurrency and the price will rise a lot, and their citizens will become rich.

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Quote from: joinfree on October 01, 2019, 07:26:09 AM

The nature of Africa was decentralization! Africa was unite and great until colonial masters began to centralize everything. Now all the resources is control by the western world. Now that the world is changing and blockchain is bring back decentralization to the world would Africa get their power back?

Thank you, you made my day. I had a good laugh.

Back on topic, it could help countries where the government is unreliable. These governments didn't built much infrastructure and that is one reason for example, that mobile banking took off in Africa - they don't have a much existing telephone lines to begin with.

As long as internet become readily available and cheap, they can benefit from various blockchain projects.

Pinkris128

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Quote from: joinfree on October 01, 2019, 07:26:09 AM

The nature of Africa was decentralization! Africa was unite and great until colonial masters began to centralize everything. Now all the resources is control by the western world. Now that the world is changing and blockchain is bring back decentralization to the world would Africa get their power back?

There are some country seems to have a huge potetntial for the production and economic growth adn one of that is the Africa. Africa has a huge potential in production of solar energy because of having a huge teritory and power plant for producing. With that, we all know that cryptocurrency mining need a big and more electricity to work on and in this case, Africa is ready for that. I think with this,Africa has a good future in terms of mining industry and producing solar energy to the other country.

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The decentralization of money does not necessarily mean that the entire world will be decentralized. There are still many obstacles in general and for African citizens in particular.
Bitcoin is not the solution to all the problems, the African continent suffers from ignorance, poverty, corruption, bribery and other things that will undermine the meaning of decentralization once implemented.
Cryptocurrencies can be a good start if their capabilities are well exploited.

Spaffin

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It always seemed to me that Africa has a huge potential for the production of solar energy, because no country can give as much empty territory for this production as there is in Africa. And of course, cryptocurrency mining due to cheap electricity in this case will be more than profitable. In addition, the use of cryptocurrency to pay for the entire process of production of alternative energy sources may well change the whole life of the inhabitants of Africa.

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Quote from: joinfree on October 01, 2019, 07:26:09 AM

The nature of Africa was decentralization! Africa was unite and great until colonial masters began to centralize everything. Now all the resources is control by the western world. Now that the world is changing and blockchain is bring back decentralization to the world would Africa get their power back?

Africa will get their power back if they indeed join the blockchain race because the genuine purpose behind blockchain and cryptocurrency creation was to give people total liberation from the economic meltdown which was unable to fix by the government and also to create a form of equity.

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Quote from: joinfree on October 01, 2019, 07:26:09 AM

The nature of Africa was decentralization! Africa was unite and great until colonial masters began to centralize everything. Now all the resources is control by the western world. Now that the world is changing and blockchain is bring back decentralization to the world would Africa get their power back?

Blockchain is not a magic wand, it's just a special type of database! Bringing change to a continent extremely rich with natural resources is much beyond the scope of blockchain.

Also Africa has fallen for misery due to the dictatorship and domestic war within neighboring countries! Which indeed helped westerners to capture the natural resources. Blockchain can't help here! Rather it is wrong to think that blockchain can be a solution to every problem!

hatshepsut93

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Blockchain is just a database protocol, how can a database help a continent? You can't lift whole societies with some simple trick, only deep systematic changes can do the job, and those are very hard, which is why some countries stagnate for decades. And going back to blockchain, it isn't even a deep fundamental technology that can change everything, in fact it's incredibly hard to find applications for it, and all those use cases that you read about in news articles actually only exist on paper.

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Quote from: joinfree on October 01, 2019, 07:26:09 AM

The nature of Africa was decentralization! Africa was unite and great until colonial masters began to centralize everything. Now all the resources is control by the western world. Now that the world is changing and blockchain is bring back decentralization to the world would Africa get their power back?

in fact, Africa is poor because its resources are not so much. Besides, they are in a place where natural and economic conditions do not support and they also find it difficult to trade goods with other countries. No matter how good blockchain technology is, I'm afraid it can't help Africa get rich.

el kaka22

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It does help, I know from a friend who is living in an African country where people have started to use bitcoin for payments around the globe and that way their talents are utilized a lot better.

Of course, this helps only a bit if you have a talent you can use online, it is not helping everyone but there is more money coming into their economy thanks to bitcoin payments and that allows them to grow stronger in economy everyday. Of course bitcoin has been around only for 10 years and have been close to mainstream for only 2 years which means they are not really ready for everything just yet but eventually with time goes on there would be more money coming from elite countries to African cheap labor online which would help them grow their economy even more.

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Quote from: joinfree on October 01, 2019, 07:26:09 AM

The nature of Africa was decentralization! Africa was unite and great until colonial masters began to centralize everything. Now all the resources is control by the western world. Now that the world is changing and blockchain is bring back decentralization to the world would Africa get their power back?

In as much as there are several things that can be attached to the influence of colonial masters in the negative, it does not mean they are the ones fully responsible for the woes that is ravaging the continent. Today the continent have a lot of leaders who have schooled in developed economy and can see the leadership styles of those people there but rather than imbibing in the knowledge and transferred it their own country, they prefer to steal their country dry and still purchase assets in those developed countries. Whose fault is that.

On the impact of blockchain, its a technology which I believe can be harnessed to its full potential by any country that is willing to do so but unfortunately while the advanced countries would be doing same as to having discussions that are valid and relevant to current situations, African countries are still struggling with electricity or internet among other basic necessity of life.

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Quote from: joinfree on October 01, 2019, 07:26:09 AM

The nature of Africa was decentralization! Africa was unite and great until colonial masters began to centralize everything. Now all the resources is control by the western world. Now that the world is changing and blockchain is bring back decentralization to the world would Africa get their power back?

Yes, if taxation and mineral exploitation in Africa were put on a blockchain, ordinary people would definitely benefit from that. But the thing is that those who are in power in most African countries(they are not colonizers, btw) doing all they can to prevent transparency because they want to continue to rob their own people.

And don't be naive, Africa was never united and peaceful. In regards to war all Homo Sapiens are the same, and Africans are no better than other humans who fight each other all the time.

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Quote from: joinfree on October 01, 2019, 07:26:09 AM

The nature of Africa was decentralization! Africa was unite and great until colonial masters began to centralize everything. Now all the resources is control by the western world. Now that the world is changing and blockchain is bring back decentralization to the world would Africa get their power back?

Yes, I believe the blockchain technology will help unite Africa once again.
Blockchain will boost African businesses, it will help reduce rigging elections and corruption.

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Quote from: yoseph on October 01, 2019, 07:53:55 AM

With the high levels of corruption in most African countries, I believe that the blockchain technology would be the very thing that this continent needs. It will undoubtedly make everything transparent so that every person would be able to see exactly what's going on and thus prevent high levels of corruption and fraud by most of our so called leaders and politicians.

I quite agreed with you on how corruption had been entrenched in most African countries, its a barrier or obstacle militating the growth of that continent many elections are rigged in favour of the incumbent leaders siphon government money into their private account but with blockchain technology if fully adopted and deployed its transparency will enhance a credible election, corrupt-free society invariably enhance rapid development of the infrastructures in the continent, but the questions now are the leaders ready to adopt this technology?

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No, blockchain can't change Africa until the locals starts adopting blockchain as part of their system. No matter how good a technology is, it cannot be of good use if majority would ignore its capabilities.

I'm actually happy to see some projects pivot to Africa last year. But at the moment, I am not seeing any major improvement. Could it be that Africans rejected/ignored them?

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Quote from: joinfree on October 01, 2019, 07:26:09 AM

The nature of Africa was decentralization! Africa was unite and great until colonial masters began to centralize everything. Now all the resources is control by the western world. Now that the world is changing and blockchain is bring back decentralization to the world would Africa get their power back?

Africa has untapped potential and relying on bitcoin can help them unleash that potential. However, there are a number of limitations present at the time that makes it difficult for Africa to even try to develop as their own while relying on bitcoin. It would take serious effort to make it really work. Africa has the ability to leverage blockchain across every industry, giving them the chance to release themselves from the west and fixing the mistakes made by the development of the west. With how Africa as being one of the countries known to be underdeveloped, Blockchain can really help them stand up and stand together to those developed and well endowed countries.

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Africans may already know what blockchain can offer to them since bitcoin is top searched in their country. What they need now is to provide better electricity supply and Internet provider in their country so having blockchain as well doing crypto transactions will not be a problem. Blockchain can change a lot in their system advancement and in their economy too.

JeffBrad12

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I don't think so. Blockchain is only revolutionary to those people who want to be free from the massive financial centralization of the world bank and I don't think just because it opposes the bankers it will help africa. Blockchain is not a magical thing you know, it is basically just a system that could improve efficiency of certain field if applicated properly.

If the fundamentals of a country is bad, blockchain product like cryptos will make it even worse making the citizen's money goes out the country and from that I could assume there would be a massive monetary crisis.

If there's a way to change africa, maybe blockchain could only help to transfer money internationally without limit.

pieppiep

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It could help Africa if they realize and open their eyes and mind about technology. They have a resource from their country, and if they can manage with the help of blockchain, then I think that will have a good impact on their economy. But we don't know how far it could give benefits to them as they need to use the blockchain and approve the blockchain to be used in their country. If they succeed in using the blockchain, I think they can be role models for the other country to following Africa.

The present of the blockchain in Africa will help that country to reduce corruption as long as the government is willing to fight corruption. But if it's not, then it might difficult to see blockchain will grow in that country.

Topic: Can Blockchain Bring change into Africa? - page 7. (Read 837 times)