Topic: How bitcoin can be useful in developing nations like the African continent. (Read 2610 times)
February 10, 2018, 12:16:24 AM
Bitcoin is useful for me and for every one in the community it is a good tool for developing a country situation like the African continent and the rest as well. The thing is a currency can do more then the other things like the bitcoin is using for many things this provide a job facility to many people in the Africa and not all this happen because of the bitcoin the shops there can earn a good amount of bitcoin and this is also a good job that we have to work for the bitcoin.
February 10, 2018, 12:14:21 AM
Infrastructure for solid digital token lift. Telecommunications liberalization across the continent has enabled internet access well. Countries in the African continent recognize the importance of crypto in their business and encourage cross-border trade and payments. I think Bitcoin and other cryptocurrencies have an opportunity and can grow in the African market.
February 09, 2018, 11:49:14 PM
Hey folks!
I'm new to the forum here. I've been watching with excitement lots of documentaries about Bitcoin and cryptocurrency. As probably most of you here, I am completely fascinated by the wonders of Bitcoin and its potential use in paving a new path towards decentralization of the financial system. I live in Ethiopia (East Africa), second highest population in the continent with a large amount of people still considered unbanked (low to no access to financial institutions). Hence, I am seriously considering starting a bitcoin service in the country to try and alleviate some of these issues. I am therefore open to any engagement of productive discussions about Bitcoin and its benefits in developing nations. How can we implement Bitcoin systems here? Where do we begin? Who can we partner with? How to include the financially unincluded? How can local businesses thrive with Bitcoin? How can donations happen using Bitcoin? And all questions related to developing nations and Africa. Thank you all in advance for the active participation!
It gives a lot of benefits to them specially those who are in need. First their country needs to give educations for everyone then educate them how to deal with bitcoin. And upgrade the used of technologies in africa so that each of everyone will live happily and easily. Specially the communicatuons. I'm new to the forum here. I've been watching with excitement lots of documentaries about Bitcoin and cryptocurrency. As probably most of you here, I am completely fascinated by the wonders of Bitcoin and its potential use in paving a new path towards decentralization of the financial system. I live in Ethiopia (East Africa), second highest population in the continent with a large amount of people still considered unbanked (low to no access to financial institutions). Hence, I am seriously considering starting a bitcoin service in the country to try and alleviate some of these issues. I am therefore open to any engagement of productive discussions about Bitcoin and its benefits in developing nations. How can we implement Bitcoin systems here? Where do we begin? Who can we partner with? How to include the financially unincluded? How can local businesses thrive with Bitcoin? How can donations happen using Bitcoin? And all questions related to developing nations and Africa. Thank you all in advance for the active participation!
February 09, 2018, 11:10:59 PM
Bitcoin offers opportunities to unemployed people and can improve the economy of Third-world countries like Africa. Once majority of its people know about bitcoin and cryptos, it will open up lots of opportunity for they can participate in bounties offered by ICOs, they can trade, invest, and many more.
February 09, 2018, 09:25:39 PM
In my country, it is possible for bitcoin miners to be very helpful, but for my government there is no news to ban the inclusion of bitcoin to my country, because everything associated with free currency can be risky.
December 28, 2017, 04:03:02 AM
Hey folks!
I'm new to the forum here. I've been watching with excitement lots of documentaries about Bitcoin and cryptocurrency. As probably most of you here, I am completely fascinated by the wonders of Bitcoin and its potential use in paving a new path towards decentralization of the financial system. I live in Ethiopia (East Africa), second highest population in the continent with a large amount of people still considered unbanked (low to no access to financial institutions). Hence, I am seriously considering starting a bitcoin service in the country to try and alleviate some of these issues. I am therefore open to any engagement of productive discussions about Bitcoin and its benefits in developing nations. How can we implement Bitcoin systems here? Where do we begin? Who can we partner with? How to include the financially unincluded? How can local businesses thrive with Bitcoin? How can donations happen using Bitcoin? And all questions related to developing nations and Africa. Thank you all in advance for the active participation!
I think you can negotiate with bitcoin or developers of any altcoin inrelation to the needs of your continent, Africa. I think bitcoin will change the life of the people in Africa and the unbanked people may find some hope in bitcoin. You are right, bitcoin has the potential to change the world economically. There a lots of benefits of bitcoin and it is applicable for those developing countries. Likewise, it is important to start right now and be hopeful that someday the Africa and even the developing countries will become successful with bitcoin.I'm new to the forum here. I've been watching with excitement lots of documentaries about Bitcoin and cryptocurrency. As probably most of you here, I am completely fascinated by the wonders of Bitcoin and its potential use in paving a new path towards decentralization of the financial system. I live in Ethiopia (East Africa), second highest population in the continent with a large amount of people still considered unbanked (low to no access to financial institutions). Hence, I am seriously considering starting a bitcoin service in the country to try and alleviate some of these issues. I am therefore open to any engagement of productive discussions about Bitcoin and its benefits in developing nations. How can we implement Bitcoin systems here? Where do we begin? Who can we partner with? How to include the financially unincluded? How can local businesses thrive with Bitcoin? How can donations happen using Bitcoin? And all questions related to developing nations and Africa. Thank you all in advance for the active participation!
I guess you can talk it about the developers and I saw a project dealing with the internet speed in Africa. I hope that project will pursue and if it will be implemented in Africa. That is the time that the Africa will start to bring change.
December 28, 2017, 03:46:06 AM
Btc can be really useful in developing nations, not just African continents but also other sleeping countries. However, it's not easy most especially if the country is very limited. Most countries that need development are lacking and poor, so it's a bit difficult to operate btc to those countries. But, I guess soon, there will be alternatives in terms of accessing btc so that everyone will be able to accommodate and use it.
September 25, 2017, 01:01:14 PM
I have begun to elaborate a list with African Bitcoin companies , so we can do something constructive to promote Bitcoin usage in that world region.
Unfortunately, I didn't find too many, so I encourage anyone that knows about another Bitcoin enterprise (e.g. exchanges, payment processors, Bitcoin-accepting service providers etc.) to share their knowledge
False, although connection in rural areas is not very good in some countries (particularly those hitten by wars and conflicts), but connectivity should be enough in almost every African city of let's say 50.000+ inhabitants to allow usage of a SPV (light) wallet like Electrum.
That is a chicken-and-egg problem. In our current economic system you almost for sure need money to solve infrastructural problems like a reliable drinking water supply (regardless that there are drastic differences between the countries). But Bitcoin companies could bring in some of this money - their contribution first will be tiny but then can grow if Bitcoin succeeds.
Unfortunately, I didn't find too many, so I encourage anyone that knows about another Bitcoin enterprise (e.g. exchanges, payment processors, Bitcoin-accepting service providers etc.) to share their knowledge
Mate Africa's territory is away from internet connection even.
False, although connection in rural areas is not very good in some countries (particularly those hitten by wars and conflicts), but connectivity should be enough in almost every African city of let's say 50.000+ inhabitants to allow usage of a SPV (light) wallet like Electrum.
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Hoping them to do good with coins is not logical. They have life problems, serious problems. They lack of drink water and food. This problems should be solved first.
That is a chicken-and-egg problem. In our current economic system you almost for sure need money to solve infrastructural problems like a reliable drinking water supply (regardless that there are drastic differences between the countries). But Bitcoin companies could bring in some of this money - their contribution first will be tiny but then can grow if Bitcoin succeeds.
September 24, 2017, 06:48:30 PM
Do all people have internet and mobile phones in Africa? Even if they do, how exactly they are going to maintain a proper wallet without it getting lost or robbed? A lot of people cannot even understand how to get a wallet started and pay with Bitcoin to be honest.
But that's where the future should be going so we have a nice worldwide currency.
That could be a huge problem with the african citizens. Probably they could take this bitcoin hardly because of many reasons, limited resources and financial stability in their people is a big factors. But that's where the future should be going so we have a nice worldwide currency.
And I don't think that bitcoim would be embraced by most, probably they will ignored it maybe.
September 24, 2017, 06:28:02 PM
The use of bitcoin now is growing,many peoploe where using bitcoin.And that is one thing that can help many coun countries to overcome many circumstances.We can help them by teaching them to how to buy products using bitcoin and by using these to save money and also to invest.
We know that africa have a big problem in terms of finacial stability and it could be hard for them to take bitcoin because of having limited resources individually. And probably only rich people will take advantage with this because they are only person that can afford to used and invest bitcoin.Mate Africa's territory is away from internet connection even. Hoping them to do good with coins is not logical. They have life problems, serious problems. They lack of drink water and food. This problems should be solved first.
September 24, 2017, 06:24:49 PM
The use of bitcoin now is growing,many peoploe where using bitcoin.And that is one thing that can help many coun countries to overcome many circumstances.We can help them by teaching them to how to buy products using bitcoin and by using these to save money and also to invest.
We know that africa have a big problem in terms of finacial stability and it could be hard for them to take bitcoin because of having limited resources individually. And probably only rich people will take advantage with this because they are only person that can afford to used and invest bitcoin. sr. member
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September 24, 2017, 03:09:57 PM
Adoption of electronic-remittance has been great in many places in Africa! Primarily from the widespread use of cell phones with internet connectivity.
To answer the question, the greatest use would be obtaining Bitcoin as a long-term savings mechanism and secondary use as a cheap means of transfer for cross-border remittances. Bitcoin is the best tool to break away from central-bank financial bondage.
Has everyone known about the widespread use of cellphone remittance in Kenya (other parts of Africa) and attempts to centralize and control, shutdown competition?
Not too long ago - the debacle of Safaricom Mpesa and Bitcoin;
https://www.kenyainsights.com/revealed-how-a-worried-safaricom-used-backdoor-to-shutdown-bitcoin-which-was-set-to-neutralize-mpesa-dominance-in-kenya/
Not just in Africa, Fiat around the world is heavily infested, broken, and burdened with:
-regulatory burden on fiat banks & system (incredibly costly)
-insurance fraud
-false claims and insurance losses
-unemployment & other welfare costs
-inflating fiat to keep stock market rising and to keep house-prices from collapsing
-financing conflicts, bombs, and "aid"
-stabilize regions after natural disasters
-keeping monopolies with internet access centralized and search engine crawlers centralized
-money laundering
-chargebacks
-frivolous legal costs (lawsuits bogging the system down)
-state-sponsored corruption and unofficial corruption (governments and gangs, banks and conartists)
-retirement obligations (debasement in value to keep up with payments from government or other retirement-obligations)
-fake credit (goods being transacted with credit-loss, replaced by inflation of monetary base rather than bringing perpetrators & source to justice)
Bitcoin, systemically, is free from these burdens.
Bitcoin CANNOT be controlled.
Bitcoin cannot be made legal. Governments may still attempt to do so.
Bitcoin cannot be made illegal. Governments may still attempt to do so.
Efforts by any country's central bank or government to regulate bitcoin will accelerate that country's demise of fiat value. These costs of such attempts and many other costs are absorbed by monetary inflation - making fiat even more worthless over time. Fiat system has been broken for decades. Bitcoin however had reached escape velocity globally 4-years ago in 2013 thus will continue to rise & be adopted as it is the only escape from financial slavery and an opt-out of war-making, slave-labor producing central bank regimes.
To answer the question, the greatest use would be obtaining Bitcoin as a long-term savings mechanism and secondary use as a cheap means of transfer for cross-border remittances. Bitcoin is the best tool to break away from central-bank financial bondage.
Has everyone known about the widespread use of cellphone remittance in Kenya (other parts of Africa) and attempts to centralize and control, shutdown competition?
Not too long ago - the debacle of Safaricom Mpesa and Bitcoin;
https://www.kenyainsights.com/revealed-how-a-worried-safaricom-used-backdoor-to-shutdown-bitcoin-which-was-set-to-neutralize-mpesa-dominance-in-kenya/
Not just in Africa, Fiat around the world is heavily infested, broken, and burdened with:
-regulatory burden on fiat banks & system (incredibly costly)
-insurance fraud
-false claims and insurance losses
-unemployment & other welfare costs
-inflating fiat to keep stock market rising and to keep house-prices from collapsing
-financing conflicts, bombs, and "aid"
-stabilize regions after natural disasters
-keeping monopolies with internet access centralized and search engine crawlers centralized
-money laundering
-chargebacks
-frivolous legal costs (lawsuits bogging the system down)
-state-sponsored corruption and unofficial corruption (governments and gangs, banks and conartists)
-retirement obligations (debasement in value to keep up with payments from government or other retirement-obligations)
-fake credit (goods being transacted with credit-loss, replaced by inflation of monetary base rather than bringing perpetrators & source to justice)
Bitcoin, systemically, is free from these burdens.
Bitcoin CANNOT be controlled.
Bitcoin cannot be made legal. Governments may still attempt to do so.
Bitcoin cannot be made illegal. Governments may still attempt to do so.
Efforts by any country's central bank or government to regulate bitcoin will accelerate that country's demise of fiat value. These costs of such attempts and many other costs are absorbed by monetary inflation - making fiat even more worthless over time. Fiat system has been broken for decades. Bitcoin however had reached escape velocity globally 4-years ago in 2013 thus will continue to rise & be adopted as it is the only escape from financial slavery and an opt-out of war-making, slave-labor producing central bank regimes.
September 24, 2017, 02:27:43 PM
Hey folks!
I'm new to the forum here. I've been watching with excitement lots of documentaries about Bitcoin and cryptocurrency. As probably most of you here, I am completely fascinated by the wonders of Bitcoin and its potential use in paving a new path towards decentralization of the financial system. I live in Ethiopia (East Africa), second highest population in the continent with a large amount of people still considered unbanked (low to no access to financial institutions). Hence, I am seriously considering starting a bitcoin service in the country to try and alleviate some of these issues. I am therefore open to any engagement of productive discussions about Bitcoin and its benefits in developing nations. How can we implement Bitcoin systems here? Where do we begin? Who can we partner with? How to include the financially unincluded? How can local businesses thrive with Bitcoin? How can donations happen using Bitcoin? And all questions related to developing nations and Africa. Thank you all in advance for the active participation!
I'm new to the forum here. I've been watching with excitement lots of documentaries about Bitcoin and cryptocurrency. As probably most of you here, I am completely fascinated by the wonders of Bitcoin and its potential use in paving a new path towards decentralization of the financial system. I live in Ethiopia (East Africa), second highest population in the continent with a large amount of people still considered unbanked (low to no access to financial institutions). Hence, I am seriously considering starting a bitcoin service in the country to try and alleviate some of these issues. I am therefore open to any engagement of productive discussions about Bitcoin and its benefits in developing nations. How can we implement Bitcoin systems here? Where do we begin? Who can we partner with? How to include the financially unincluded? How can local businesses thrive with Bitcoin? How can donations happen using Bitcoin? And all questions related to developing nations and Africa. Thank you all in advance for the active participation!
I think bitcoin will not be much of a help for the developing nations like Africa because bitcoin is a technical matter which is hard for them to understand first and then use it for their betterment. I am not saying that Africans are technically backward, but it is certainly needs a lot more education to handle a computer and then a crypto currency. The concept of crypto currency is fairly complex.
To make a good use of crypto currency, first they need good education and computer literacy. Otherwise, bitcoin will not be of much use to them. But if suddenly an African country declares bitcoin as legal for their country, it will certainly give a good boost to bitcoin as well as to their economy because then a lot of foreign investment will flow in to their country to evade tax and legal complication. Otherwise not!
September 24, 2017, 12:53:10 PM
as developer works on manage with the service to gives with the offers as improving chance with the users experience as utilizing use of altcoins, the more on users have with the chance of possession those helps might in the future to gives with the ease of access as deliberating use of aggregate occupation to improves the dynamics with the decision as entering business with the crypto currency related field.
Of course they need the knowledge for operating bitcoin things since bitcoin works based on complicated algorithm. As I ever know that Ethiopia have a less knowledge about internet but it's still possible for their people to keep learn how to work with bitcoin for better future. As I'm experience , bitcoin really change my life !
September 24, 2017, 12:40:10 PM
as developer works on manage with the service to gives with the offers as improving chance with the users experience as utilizing use of altcoins, the more on users have with the chance of possession those helps might in the future to gives with the ease of access as deliberating use of aggregate occupation to improves the dynamics with the decision as entering business with the crypto currency related field.
June 20, 2017, 12:57:43 PM
Finally someone that doesn't entirely speculate about "the african country"
That looks pretty pessimistic (and I hope it has nothing to do with the fact that the OP disappeared from the thread, he didn't look like a newbie trying to accumulate posts). Well, Bitcoin has made some progress in another country with an similarly authoritarian government that is China. It was often said in mainstream media that Ethiopia is following the Chinese model in many ways. Maybe there could be some cooperation between the Chinese Bitcoin pioneers and Ethiopian Bitcoiners to discuss strategies how to avoid repression.
Quote
[...]any bitcoin initiative there would be repressed by the state with maximum penalties and why bitcoin is still non existent there and it will be so until the current model of authoritarian government will persist, just because bitcoin frees individuals from the money powers, which in Ethiopia is the state.
That looks pretty pessimistic (and I hope it has nothing to do with the fact that the OP disappeared from the thread, he didn't look like a newbie trying to accumulate posts). Well, Bitcoin has made some progress in another country with an similarly authoritarian government that is China. It was often said in mainstream media that Ethiopia is following the Chinese model in many ways. Maybe there could be some cooperation between the Chinese Bitcoin pioneers and Ethiopian Bitcoiners to discuss strategies how to avoid repression.
I hope so too and wish him well. :-)
I think that Ethiopia has way less any historical experience nor any concept of free market than China. They are now into an ideology of state-led economy called "developmentalism" (or develop-mentalism) which is just a cover for the not so original marxist ideology of the party which is ruling since the 1991 revolution against the previous marxist regime.
Clearly the fact that the economy is booming from then just encourages more of the same state expansion, which will be their ruin, as always happened everywhere.
Do you know if there are mesh networks in Ethiopia? (at least, in the major cities?) Or is there a restriction respect to it? I know it would not be a satisfactory solution but at least it may make usable Bitcoin in some places without relying on the (untrustworthy) Internet service.
They are currently under a "State of emergency", that is a suspension of constitutional rights, the government imprison journalists, dissidents by the tens of thousands, opposition leaders (even parliamentarians), etc. It is said that 1 out of 5 people in the whole population are informers of secret services kinda how it was in East Germany and so on. In such conditions I would not even open my mouth, much less start a mesh network (which might likely be illegal due to the state monopoly on telecommunications).
June 09, 2017, 11:36:19 PM
Hi. I've been in Ethiopia and I know it a bit.
Finally someone that doesn't entirely speculate about "the african country"
Quote
[...]any bitcoin initiative there would be repressed by the state with maximum penalties and why bitcoin is still non existent there and it will be so until the current model of authoritarian government will persist, just because bitcoin frees individuals from the money powers, which in Ethiopia is the state.
That looks pretty pessimistic (and I hope it has nothing to do with the fact that the OP disappeared from the thread, he didn't look like a newbie trying to accumulate posts). Well, Bitcoin has made some progress in another country with an similarly authoritarian government that is China. It was often said in mainstream media that Ethiopia is following the Chinese model in many ways. Maybe there could be some cooperation between the Chinese Bitcoin pioneers and Ethiopian Bitcoiners to discuss strategies how to avoid repression.
Quote
Not to mention the pitiful state of the internet access there thanks to the state monopoly of telecom + censorship + total internet blackout (like the one currently ongoing), etc.
Do you know if there are mesh networks in Ethiopia? (at least, in the major cities?) Or is there a restriction respect to it? I know it would not be a satisfactory solution but at least it may make usable Bitcoin in some places without relying on the (untrustworthy) Internet service. June 09, 2017, 09:35:50 PM
Do all people have internet and mobile phones in Africa? Even if they do, how exactly they are going to maintain a proper wallet without it getting lost or robbed? A lot of people cannot even understand how to get a wallet started and pay with Bitcoin to be honest.
But that's where the future should be going so we have a nice worldwide currency.
But that's where the future should be going so we have a nice worldwide currency.
You have a point. In fact, you will be starting in totally scratch. You need to educate the people what is Bitcoin and how amazing it is. You can advertise it thru television,newspaper or other media that is accessible in your country. In that way many people will know and many investors will get attracted in Bitcoin. And success will not happen overnight so you better work hard for your dream to your country.
June 06, 2017, 10:01:49 PM
The use of bitcoin now is growing,many peoploe where using bitcoin.And that is one thing that can help many coun countries to overcome many circumstances.We can help them by teaching them to how to buy products using bitcoin and by using these to save money and also to invest.
June 06, 2017, 05:16:46 PM
Hey folks!
I'm new to the forum here. I've been watching with excitement lots of documentaries about Bitcoin and cryptocurrency. As probably most of you here, I am completely fascinated by the wonders of Bitcoin and its potential use in paving a new path towards decentralization of the financial system. I live in Ethiopia (East Africa), second highest population in the continent with a large amount of people still considered unbanked (low to no access to financial institutions). Hence, I am seriously considering starting a bitcoin service in the country to try and alleviate some of these issues. I am therefore open to any engagement of productive discussions about Bitcoin and its benefits in developing nations. How can we implement Bitcoin systems here? Where do we begin? Who can we partner with? How to include the financially unincluded? How can local businesses thrive with Bitcoin? How can donations happen using Bitcoin? And all questions related to developing nations and Africa. Thank you all in advance for the active participation!
I think bitcoin will be helpful in the country of Africa in terms of growing their economy because I believe that bitcoins has a big impact in ones economy. Bitcoin will also helpful in giving a chance to unemployed person to have an alternative income.I'm new to the forum here. I've been watching with excitement lots of documentaries about Bitcoin and cryptocurrency. As probably most of you here, I am completely fascinated by the wonders of Bitcoin and its potential use in paving a new path towards decentralization of the financial system. I live in Ethiopia (East Africa), second highest population in the continent with a large amount of people still considered unbanked (low to no access to financial institutions). Hence, I am seriously considering starting a bitcoin service in the country to try and alleviate some of these issues. I am therefore open to any engagement of productive discussions about Bitcoin and its benefits in developing nations. How can we implement Bitcoin systems here? Where do we begin? Who can we partner with? How to include the financially unincluded? How can local businesses thrive with Bitcoin? How can donations happen using Bitcoin? And all questions related to developing nations and Africa. Thank you all in advance for the active participation!
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