Last year, I worked for a crypto company that was launching a new cryptocurrency exchange and exchange token. So, the administration of the crypto company made a bet on development in Africa, which was confirmed by the presence of photos and videos from the events held. It turns out that Africa is not such a backward continent in terms of the use of cryptocurrencies and the availability of Internet services there. What I can agree with is that Africa is a promising continent, where there are many people who would really like to get additional opportunities to receive both additional income and the opportunity to use cryptocurrency as a means to restore the financial sector and financial institutions.
This is completely true, because most of the Western world has a perception of Africa as a continent where nothing has changed in the last 50 years. Yet things are much different if scratched below the surface, but the situation varies from country to country, as some countries have made considerable progress, while others have lagged far behind due to wars and corrupt governments.
When we talk about cryptocurrencies as something that can help Africa as a continent, then we should keep in mind the other side of the story - and we know that some choose the wrong path and involve in scams - because to be honest, most crypto projects actually serve no purpose except that the individuals on them get rich as quickly as possible. What I would like to see is that it happens that some African country is trying to do something similar to El Salvador with Bitcoin, which would give people a chance to prosper without having to worry about doing something legal or not.
Some interesting data speak in favor of Africa's development as a continent :
Since the beginning of 2015, Africa has experienced more than 27 leadership changes, highlighting the continent-wide push for greater accountability and democracy. Countries like Mauritius, Botswana, Cape Verde, Namibia, and Ghana rank relatively high as politically stable, democratic countries.
These countries, as well as other rising democracies across Africa, serve as encouragement to international partners that stability can be achieved throughout the continent. Across Africa, governance has improved considerably since 2000. Thirty-four countries, home to 72 percent of Africa’s citizens, have improved their governance performance over the last 10 years, and significant improvements have been seen in participation, rule of law, and rights, among other categories. Over the past five years, many countries have also shown improvements in transparency and accountability.
Since 2000, the number of African children enrolled in primary school has increased from 60 million to 150 million.
Adult literacy rates are up by almost 10 percentage points from 1995, and the gender gap in literacy is shrinking, partially driven by massive improvements in gender parity in school enrollment. However, this gender parity has to shrink further, especially in the sciences, if African countries are to make further economic, political, and social gains
These countries, as well as other rising democracies across Africa, serve as encouragement to international partners that stability can be achieved throughout the continent. Across Africa, governance has improved considerably since 2000. Thirty-four countries, home to 72 percent of Africa’s citizens, have improved their governance performance over the last 10 years, and significant improvements have been seen in participation, rule of law, and rights, among other categories. Over the past five years, many countries have also shown improvements in transparency and accountability.
Since 2000, the number of African children enrolled in primary school has increased from 60 million to 150 million.
Adult literacy rates are up by almost 10 percentage points from 1995, and the gender gap in literacy is shrinking, partially driven by massive improvements in gender parity in school enrollment. However, this gender parity has to shrink further, especially in the sciences, if African countries are to make further economic, political, and social gains
