Topic: Poor Internet Services Could Cause Hamper Crypto Adoption in Africa - page 2. (Read 930 times)
November 19, 2018, 01:47:41 AM
I am not in Africa but my sisters are in Mozambique just to work. They said to me that Africa gradually adapts the technology and it is good that they are already civilized. Africans have change their way of living, they want also to be popular all over the world. I hope they will totally regulate and understand the cryptocurrency specially that Africa is rich when it comes in natural resources.
November 19, 2018, 12:03:06 AM
That is true, crypto currency is heavily internet based and a very slow internet could hinder transactions. Online monetary transactions needs highspeed internet to actually be done. This is why we need an insane amount of infrastructure not just in Africa but in the whole world to have a global currency in place.
In any country where their is no electricity or no internet services in smaller town will going to impact the crypto currency at large. Also they would not even be aware if such thing did exists but in coming years thing will be become better for every country as this are basic necessity now and government would be working to resolve it at qyuickly.
November 18, 2018, 11:19:07 PM
I agreed that Africa has been lagging behind the rest of the continent in terms of infrastructural development particularly internet penetration is still low however a recent research shows that there is a 20% increase in the number of internet users in 2018 invariably there will a gradual adoption of Cryptos as more Africans hears about it.
November 18, 2018, 10:29:33 PM
I woukd think that it would happen hinder crypto currency but necessarily in a very big way. While it is true that crypto currency is heavily internet dependent but even at 500 kb/sec crypto currency could very function properly. This is one of the challenges crypto currency faces. Everyone and everywhere should have internet access for adoption.
November 03, 2018, 04:53:25 AM
I think that is a little overfetched to talk about blockchain adoption within 3rd world countries. Yes, there are some countrie sin Africa which have high life level but in general people do not means to use digital payments of any sort.
The thing here is that as much as there are countries in Africa that have access to internet, if we are looking at the overall population, we will understand it is not actually something that is applicable and only applicable to just some small part of this region. Africa is a continent that despite the fact that they have almost everything you can think of when it comes to natural resources, they have just one thing in common that has always been their problem and that is basically bad leadership, which is one of the reasons that have made it stay aback in development over the years.
November 02, 2018, 07:07:07 AM
That is true, crypto currency is heavily internet based and a very slow internet could hinder transactions. Online monetary transactions needs highspeed internet to actually be done. This is why we need an insane amount of infrastructure not just in Africa but in the whole world to have a global currency in place.
This is not even just about slow internet, because slow internet generally is even something that you can still make use of even if you want to do any transaction, it does not take all the data in the world to get that done. However, we still have to realize that in most parts or countries in Africa, there is inaccessibility to internet. Although I have been to some part in which the usage of smartphone and access to internet is not that bad, such as Nigeria, South Africa, Kenya, and Ghana, but we still have to consider the fact that this is just very few among the general population of Africa as well as the number of countries in Africa. Nonetheless, there is always a start to everything anyway.
October 31, 2018, 04:34:45 AM
Well here in Africa, Nigeria to be specific, the number of people who have access to internet is more than the whole population of some European countries.
And currently Nigerian is the 5th largest country where bitcoin is traded! ...The only thing that could hamper the growth and adoption of crypto and blockchain in Africa is the skepticism of the people towards the technology. Which can be easily resolve with good amount of educational programs,
crypto and blockchain conferences will also do a lot of good in the space.
And currently Nigerian is the 5th largest country where bitcoin is traded! ...The only thing that could hamper the growth and adoption of crypto and blockchain in Africa is the skepticism of the people towards the technology. Which can be easily resolve with good amount of educational programs,
crypto and blockchain conferences will also do a lot of good in the space.
It's like saying Brazil has more highways than Monaco.
Nigeria has more inhabitants than almost every European country so what are we comparing?
And Nigeria is the 5th largest country where bitcoin is traded again means nothing. India is the second, and its influence on the price? 0. Zero! Nada!
Let's check the number of shops accepting Bitcoin in Nigeia...how many are there?
Which is the biggest exchange in Nigeria and what is the daily volume? How many full nodes are in Nigeria? Oh, I can answer you what, 1! One!!!!!!!!
They can be quite productive, but the corruption as you said is huge and it is a mess over there. I guess there are goons which are doing their work along with the help of the political power.
but this is going to be almost impossible with the huge level of corruption from their governments.
Their government are the ones killing them. If you go to Africa those they have as leaders are just criminals who are only there for their own selfish desires.
So we agree that the governments or we can say dictators are to blame for the situation and all of you think that those will let crypto grow and lose control over the money flow? Before thinking of cryptos and freedom of using it probably the next step should to get rid of those people and put somebody else in charge of things. And unfortunately, I've yet to see an African country leader that has come out of the pack and is recognized as a capable one.
October 30, 2018, 10:27:27 PM
One of the main reason why cryptocurrency will not replace fiat money is that it needs internet conncetion for transactions to pursue. We all know that internet connection is not yet worldwide. There are places or country where internet is very poor such as Africa. It would take few more years for cryptocurrency to go mainstream anywhere else in the world.
October 30, 2018, 08:37:13 PM
Most of African countries are still underdeveloped with limited technology in these countries in Africa. One of the major problem is internet accessibilty and affordability. Crypto will thrive very well if the problem of internet is fixed in such areas because it will generate more hob opportunities for the younger generation and boost the economy as well.
It is not only in Africa but in other developing countries as well. One of the reasons why it would be hard for cryptocurrency to be the payment option replacing fiat is that the problem of internet connection. Some areas doesn't even have electricity so it would be hard for them to use cryptocurrency. Their way to have a proper transaction is the usage of fiat because it is physical money so no need for an electricity and connection.
If you look at the developed countries, it would be easier for them to shift from fiat to digital because they have the available resources whereas for those developing countries, it would be hard to shift immediately unless there is an improvement in the technology.
October 30, 2018, 08:27:14 PM
Africa is a large segment of the world economy that could see some challenges in catching up with the rest of the world in being a part of the crypto revolution due to poor internet services infrastructure. This is the fall out from less investment in the development of the sector. Crypto is a much more needed addition to the Africa economy as it has the potential to generate huge wealth and get the younger generation engaged.Africa should a crypto hub.
https://news.bitcoin.com/poor-internet-access-could-slow-down-cryptocurrency-growth-in-africa/
https://news.bitcoin.com/poor-internet-access-could-slow-down-cryptocurrency-growth-in-africa/
Most of African countries are still underdeveloped with limited technology in these countries in Africa. One of the major problem is internet accessibilty and affordability. Crypto will thrive very well if the problem of internet is fixed in such areas because it will generate more hob opportunities for the younger generation and boost the economy as well.
October 30, 2018, 08:14:42 PM
That is true, crypto currency is heavily internet based and a very slow internet could hinder transactions. Online monetary transactions needs highspeed internet to actually be done. This is why we need an insane amount of infrastructure not just in Africa but in the whole world to have a global currency in place.
October 30, 2018, 07:29:07 PM
I think that is a little overfetched to talk about blockchain adoption within 3rd world countries. Yes, there are some countrie sin Africa which have high life level but in general people do not means to use digital payments of any sort.
October 30, 2018, 07:22:39 PM
Africa is a large segment of the world economy that could see some challenges in catching up with the rest of the world in being a part of the crypto revolution due to poor internet services infrastructure. This is the fall out from less investment in the development of the sector. Crypto is a much more needed addition to the Africa economy as it has the potential to generate huge wealth and get the younger generation engaged.Africa should a crypto hub.
https://news.bitcoin.com/poor-internet-access-could-slow-down-cryptocurrency-growth-in-africa/
https://news.bitcoin.com/poor-internet-access-could-slow-down-cryptocurrency-growth-in-africa/
Internet connection is needed if people want to use cryptocurrency. Many area in the world dont have good internet infrastructure and i am believe internet is essential for cryptocurrency growth
October 30, 2018, 01:13:01 PM
Africa isn't "a large segment of the world economy",actually it's a relatively small part.I remember that the African GDP was more than 1 trillion USD,which is very little,for a continent populated with 1 billion people.
I think that Africa needs industrialisation first and then crypto adoption.Most of the african countries have 80% uneducated population of peasants,who can do only agricultural work.
This is the correct view in my opinion, the GDP per capita of the African continent is incredibly low, it is 3.5 times lower than the next place which is the Asian continent, so before that a revolution is needed in order for the continent as a whole to become more productive but this is going to be almost impossible with the huge level of corruption from their governments.I think that Africa needs industrialisation first and then crypto adoption.Most of the african countries have 80% uneducated population of peasants,who can do only agricultural work.
They can be quite productive, but the corruption as you said is huge and it is a mess over there. I guess there are goons which are doing their work along with the help of the political power. There are various products whose raw material is obtained from Africa, but still, they are unable to grow.
Crypto adoption will take a long time, I mean to say large-scale adoption. I am not sure, but I guess not even half of their population uses the internet or even qualified to use the internet or an electronic device. Education is another drawback in their country.
October 30, 2018, 11:43:08 AM
Africa isn't "a large segment of the world economy",actually it's a relatively small part.I remember that the African GDP was more than 1 trillion USD,which is very little,for a continent populated with 1 billion people.
I think that Africa needs industrialisation first and then crypto adoption.Most of the african countries have 80% uneducated population of peasants,who can do only agricultural work.
This is the correct view in my opinion, the GDP per capita of the African continent is incredibly low, it is 3.5 times lower than the next place which is the Asian continent, so before that a revolution is needed in order for the continent as a whole to become more productive but this is going to be almost impossible with the huge level of corruption from their governments. I think that Africa needs industrialisation first and then crypto adoption.Most of the african countries have 80% uneducated population of peasants,who can do only agricultural work.
October 30, 2018, 06:58:42 AM
Well here in Africa, Nigeria to be specific, the number of people who have access to internet is more than the whole population of some European countries.
And currently Nigerian is the 5th largest country where bitcoin is traded! ...The only thing that could hamper the growth and adoption of crypto and blockchain in Africa is the skepticism of the people towards the technology. Which can be easily resolve with good amount of educational programs,
crypto and blockchain conferences will also do a lot of good in the space.
I guess I can say the same over here as well. I am not a Nigerian, but I have been to Nigeria, and even though I could say I was just in some of the major cities here on some philanthropic mission, I would say it is not very bad to the point at which a lot of people put it generally like Africa is just some bush with no one having an access to internet. And currently Nigerian is the 5th largest country where bitcoin is traded! ...The only thing that could hamper the growth and adoption of crypto and blockchain in Africa is the skepticism of the people towards the technology. Which can be easily resolve with good amount of educational programs,
crypto and blockchain conferences will also do a lot of good in the space.
It may be low when compared to the population in general, but it is not that bad when comparing the statistics of those who have access to internet in Africa and in the global space. Like you said, with good educational programs, and more exposures, this is something that can easily be adopted by a lot of people in this part of the world.
October 30, 2018, 02:20:06 AM
Exactly, poor internet services could cause hamper to crypto. Internet in every country is very important in dealing with the crypto. If africa have that connection it could affect crypto business.
October 30, 2018, 01:41:06 AM
Africa is a large segment of the world economy that could see some challenges in catching up with the rest of the world in being a part of the crypto revolution due to poor internet services infrastructure. This is the fall out from less investment in the development of the sector. Crypto is a much more needed addition to the Africa economy as it has the potential to generate huge wealth and get the younger generation engaged.Africa should a crypto hub.
https://news.bitcoin.com/poor-internet-access-could-slow-down-cryptocurrency-growth-in-africa/
Their government are the ones killing them. If you go to Africa those they have as leaders are just criminals who are only there for their own selfish desires. They never care about their citizens and citizens don’t even have full right. When it’s time for election people are not allowed to vote for who they want, and after election these men in power would rig the vote to put everything in favor of themselves. I think it’s high time the world look into all this things and liberate them of their evil leaders. https://news.bitcoin.com/poor-internet-access-could-slow-down-cryptocurrency-growth-in-africa/
October 25, 2018, 06:28:14 AM
Well here in Africa, Nigeria to be specific, the number of people who have access to internet is more than the whole population of some European countries.
And currently Nigerian is the 5th largest country where bitcoin is traded! ...The only thing that could hamper the growth and adoption of crypto and blockchain in Africa is the skepticism of the people towards the technology. Which can be easily resolve with good amount of educational programs,
crypto and blockchain conferences will also do a lot of good in the space.
I guess I can say the same over here as well. I am not a Nigerian, but I have been to Nigeria, and even though I could say I was just in some of the major cities here on some philanthropic mission, I would say it is not very bad to the point at which a lot of people put it generally like Africa is just some bush with no one having an access to internet. And currently Nigerian is the 5th largest country where bitcoin is traded! ...The only thing that could hamper the growth and adoption of crypto and blockchain in Africa is the skepticism of the people towards the technology. Which can be easily resolve with good amount of educational programs,
crypto and blockchain conferences will also do a lot of good in the space.
It may be low when compared to the population in general, but it is not that bad when comparing the statistics of those who have access to internet in Africa and in the global space. Like you said, with good educational programs, and more exposures, this is something that can easily be adopted by a lot of people in this part of the world.
October 24, 2018, 05:05:22 AM
Everything is possible and Africa makes no exception, but to evolve first they have to finish with the violent militar activities. It make me sad thinking to the poor africans.
Absolutely, there is always a stage to everything and for the fact that Africa is still a developing nation entirely, I believe one way or the other, there are still some well learned people who are exposed in a huge way. I have been to South Africa and Nigeria and basically almost everyone and even down to kids in school have access to smart phones with access to internet services, and the exposure is there. In that case, I may not have the statistics when comparing the whole population of Africa, but over time, it cannot be that bad that Africa will be exempted, and the truth is that a lot of the learned youths in Nigeria, actually have a huge idea what cryptocurrency and blockchain technology is all about. That to me is a good start.
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