Topic: How can Africans benefits from Blockchain technology? (Read 889 times)
Decentralization of blockchain technology is the best thing that happened to the coin market. Everyone have equal benefits in blockchain technology and through help of exchange companies which people can now convert their local currency to bitcoin or other cryptocurrencies have made African to benefit from blockchain technology.
How can Africans benefits from Blockchain technology?
I don't think that bitcoin will be accepted by the African people, since we already know that they have only limited resources. and in terms of capitalization, it could be hard for them. I'm not criticizing them, but possible 20% of their people have only capable for this. Because it totally need money for this, and that could be a big problem for them.How can Africans benefits from Blockchain technology?
Blockchan technology will mainly help them by lowering the fees on money remittances.
By having this it will be a big savings on the part of the residents but government will have lesser income.
How can Africans benefits from Blockchain technology?
I don't think that bitcoin will be accepted by the African people, since we already know that they have only limited resources. and in terms of capitalization, it could be hard for them. I'm not criticizing them, but possible 20% of their people have only capable for this. Because it totally need money for this, and that could be a big problem for them. If under africa you understand the 3rd world countries (not the South Africa, those guys are fine) then they will hardly benefit from blockchain. You will hardly see any kind of "CryptoTribe" app simply because big part of those people don't know how to use modern devices. Or in countries like Somali they won't get a strong benefit from any extra "information security" of blockchain because the main threat to this information is the armed bandits that can physicly get everything if they catch you.
On many places in Africa people are just trying to survive with so many wars, conflits happening at same time. It's a chaotic life, Blockchain and Bitcoins are the minor of their worries. And as you said about security: I think it's even dangerous to have much money there in BTCs, these bandits can threat them to give all the money or something bad can happen (extortion). And people may say: "But it can happen anywhere", that is a land without order or law, so there isn't police or the police isn't trustful.
If you mean african governments then the answer is no they can not. Besides, i see no government, even in developed countries, benefiting from blockchain technology.
But if you mean african people, in that case i think you misunderstood the concept of Bitcoin which is based on decentralization and anonymity thus, anyone from anywhere can use Bitcoin and enjoy its benefits.
But if you mean african people, in that case i think you misunderstood the concept of Bitcoin which is based on decentralization and anonymity thus, anyone from anywhere can use Bitcoin and enjoy its benefits.
If under africa you understand the 3rd world countries (not the South Africa, those guys are fine) then they will hardly benefit from blockchain. You will hardly see any kind of "CryptoTribe" app simply because big part of those people don't know how to use modern devices. Or in countries like Somali they won't get a strong benefit from any extra "information security" of blockchain because the main threat to this information is the armed bandits that can physicly get everything if they catch you.
I think a cryptocurrency could bring some stability into their economy. I'm talking about the poor African countries with weak currencies like Zimbabwe. Currently 1 USD equals 360000 Zimbabwean Dollars. When your local currency is worth less than dust you should consider switching to something that won't disappear with another putsch.
It is not really like Zimbabwe is a country bereft of any form of success and hope. Its one and only problem is their bigoted lifetime president, who is so wise in his foolishness and the people have been so traumatized to stupor. However if Zimbabwe were to be an oil producing country, the U.S. or NATO would have long intervened even if it mean ravaging them like Libya. I often wonder where most of the loathed funds from African countries end up, Looks like I heard someone mention Switzerland, UK, is that right? So African wealth have over the years been used to develop other countries and continents? oh what an odd world!What a shame!Well and i guess their leader is so obsolete he might probably not have heard about bitcoin. I will rather encourage the youth of such African countries to get open up exchanges and start trading cryptocurrencies locally to help push their economy into the right direction through the foreign exchange they receive through bitcoin.
in my opinion,
only third country and developing country(specific country) that will have a benefits from blockchain technology,
because it's very complicated and need a lot of technology when we're trying to implement it.
that is why i said only some of it will have any benefits for the implementation.
but i do not know,it all are my opinion.
it's not they can not do that,but instead they're not ready yet to go to that stage.
only third country and developing country(specific country) that will have a benefits from blockchain technology,
because it's very complicated and need a lot of technology when we're trying to implement it.
that is why i said only some of it will have any benefits for the implementation.
but i do not know,it all are my opinion.
it's not they can not do that,but instead they're not ready yet to go to that stage.
What? The blockchain requires connection to the internet and a computer of some sort....thats all. ALmost everywhere in the world has that and therefore can benefit from it.
Most of african countries have problems with hunger , diseases , corpution and worse. I dont know what documentaries you are watcing, but i can assure you that general population of africa does NOT have computers...so basically you need liquidity for bitocin to help you and Africa does not have that and it cannot be heellped by bitcoin.
It may help to overcome problems like corruption. It is seen that most the amount that is donated or alloted to these poor countries does not really reach to them....many middleman like bureaucrats and political ministers use this money for their own benefits. Monetary Transactions though Blockchain will give full trasparency and does not need any third party to make an transaction. This is the key we can use to help these poor countries through blockchain tech.
Infrastructural deficiency is a major problem militating against the development of Africa.
Electricity and internet the two major tools towards development of blockchain technology is virtually in non existence except in some few countries, like South Africa and the Arab countries, other countries has epileptic supply of electricity and blockain technology can be achieved by deployment of internet which will turn around the fortunes of people in the continent.
Electricity and internet the two major tools towards development of blockchain technology is virtually in non existence except in some few countries, like South Africa and the Arab countries, other countries has epileptic supply of electricity and blockain technology can be achieved by deployment of internet which will turn around the fortunes of people in the continent.
No, the main deficiency is mentality.
https://www.youtube.com/watch?v=DFlNH7MyKIY
Check this movie, it probably the definition for how things fail in Africa when there is no real driving power behind any project.
Blockchain will not make Africans change their way of doing things , will not make governments less corrupt will not improve diplomatic and economic relations.
Bitcoin is not Jesus and the blockchain is not a new religion that will save us all.
And unfortunately most of the 3rd world needs a miracle more than a crypto.
Africans can benefit from Blockchain technology because if they invest a small amount into Bitcoin/Ethereum now, it will be worth a large multiple in the not-too-distant future.
Oh , nice.
So bitcoin and the blockchain are just get rich quick schemes.
If you have no real understanding of money and how value is produced every African that will get rich in the next two years will get poor in the next two weeks , like most lottery winners do.
How can Africans benefits from Blockchain technology?
Here's a thought, people claim that there is no proper organized things in Africa, I don't mean to offend any one so don't take it literally. The block chain technology being a distributed technology will help people in utmost need in a way so that any one from any part of the world try to help them but, African countries need property governments, chuck block chain that's still 10-15 years ahead, let their currency be stable, hell let their lives be secure, there are so many things that those poor people in Africa suffer, let them get the basic needs, for that is the only reason for one to earn money and survive. I think a cryptocurrency could bring some stability into their economy. I'm talking about the poor African countries with weak currencies like Zimbabwe. Currently 1 USD equals 360000 Zimbabwean Dollars. When your local currency is worth less than dust you should consider switching to something that won't disappear with another putsch.
Well and i guess their leader is so obsolete he might probably not have heard about bitcoin. I will rather encourage the youth of such African countries to get open up exchanges and start trading cryptocurrencies locally to help push their economy into the right direction through the foreign exchange they receive through bitcoin.
Ico is ongoing. Good dev
I think a cryptocurrency could bring some stability into their economy. I'm talking about the poor African countries with weak currencies like Zimbabwe. Currently 1 USD equals 360000 Zimbabwean Dollars. When your local currency is worth less than dust you should consider switching to something that won't disappear with another putsch.
Well and i guess their leader is so obsolete he might probably not have heard about bitcoin. I will rather encourage the youth of such African countries to get open up exchanges and start trading cryptocurrencies locally to help push their economy into the right direction through the foreign exchange they receive through bitcoin.
I think a cryptocurrency could bring some stability into their economy. I'm talking about the poor African countries with weak currencies like Zimbabwe. Currently 1 USD equals 360000 Zimbabwean Dollars. When your local currency is worth less than dust you should consider switching to something that won't disappear with another putsch.
I saw an African exchange the other day, and the homepage of that website is one of the best I have ever seen. 
There are a lot of bitcoin exchanges in Africa at the moment and in Nigeria, Bitcoins has been legalized as a means of payment but what am yet to see is that the the government's are yet to show any passion about adopting bitcoins and the blockchain technology. I saw an African exchange the other day, and the homepage of that website is one of the best I have ever seen.
Yes i saw one called payplux.com and even remittano.com which is similar in operation like localbitcoins to some selected african countries. I was able to send money to a relative when touring Africa last month. This is a great benefit for africans and their economies and the blockchain and bitcoin ensures just that,
I saw an African exchange the other day, and the homepage of that website is one of the best I have ever seen.
Africans are already benefiting from blockchain technology. Any part of Africa that have access to internet can benefit from blockchain. There is even exchanger that have it base in Africa e.g Bitpesa.co.
Infrastructural deficiency is a major problem militating against the development of Africa.
Electricity and internet the two major tools towards development of blockchain technology is virtually in non existence except in some few countries, like South Africa and the Arab countries, other countries has epileptic supply of electricity and blockain technology can be achieved by deployment of internet which will turn around the fortunes of people in the continent.
Electricity and internet the two major tools towards development of blockchain technology is virtually in non existence except in some few countries, like South Africa and the Arab countries, other countries has epileptic supply of electricity and blockain technology can be achieved by deployment of internet which will turn around the fortunes of people in the continent.
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