Topic: Poor Internet Services Could Cause Hamper Crypto Adoption in Africa - page 5. (Read 929 times)
September 16, 2018, 12:26:15 PM
You are right Africa is really lacking behind in the quest for technological development/advancement and since cryptocurrency depend solely on the internet it will be very difficult for some African countries to fully take advantage of the great opportunity brought by cryptocurrency and the blockchain technology due to poor internet service.
September 16, 2018, 12:11:44 PM
Not exactly true that internet can stop the adoption and usage of cryptos in the African continent. I'm guessing there are other facilities that have not functioned uptimally but they are such services still go on. For instance, the banking system sometimes can require internet for transfers and transactions but are being disturbed by bad networks. Also, the waves could disturb the television, telephone reception but yet, they are still being managed and have not shut down.
September 16, 2018, 11:29:04 AM
I think there are already a lot of new ico ico popping up made by the community of people from the African continent and that's a very positive thing for them, making other African countries interested in using crypto
September 16, 2018, 11:21:23 AM
Africa needs a whole lot of things than just crypto adoption and even as much as crypto adoption could save the day in a way, that doesn't mean it will revamp it's economy.
It is a pity that in a lot of places in Africa, there is huge natural resources, but due to bad leadership, growth has been an issue and if this whole corruption in the leadership sector can be curbed, there would be some development gradually in this part of the world.
Although, there have been a lot of crypto enthusiast in some parts of Africa that I have met and a good thing to see that, but all in all, that information and technology in most part of Africa will still be inaccessible and limited due to how things are in this region when it comes to technology adoption.
It is a pity that in a lot of places in Africa, there is huge natural resources, but due to bad leadership, growth has been an issue and if this whole corruption in the leadership sector can be curbed, there would be some development gradually in this part of the world.
Although, there have been a lot of crypto enthusiast in some parts of Africa that I have met and a good thing to see that, but all in all, that information and technology in most part of Africa will still be inaccessible and limited due to how things are in this region when it comes to technology adoption.
September 16, 2018, 10:21:58 AM
this is why the crypto can't grow worldwide easily because the spread of technology and internet is not equally in this world
September 16, 2018, 09:58:37 AM
Africa is a resource-rich continent, so the use of Blockchain technology will ensure optimal utilization of these resources, as corruption is one of the most important causes of poverty in that continent.
Weak Internet, lack of electricity and other factors are the consequences of misuse of resources due to corruption and lack of transparency.
Once these resources exploited, cryptos can play an essential role in distributing those resources equitably to those who deserve them and thus renaissance in society.
So the poor Internet is not a problem but a misunderstanding of the issue.
Weak Internet, lack of electricity and other factors are the consequences of misuse of resources due to corruption and lack of transparency.
Once these resources exploited, cryptos can play an essential role in distributing those resources equitably to those who deserve them and thus renaissance in society.
So the poor Internet is not a problem but a misunderstanding of the issue.
September 16, 2018, 07:11:32 AM
Blockchain is already being introduced in Africa. And the Blockchain Africa Conference in 2019 will only pique interest and drive people to go deep into the technology.
As well as anywhere else, in Africa blockchain has many use cases and benefits. Secure and middlemen-free payments, cheaper transactions and services, fraudless and transparent elections, less human errors and inefficiencies.
We already have some excellent examples of blockchain usage in Africa:
Moreover, there are enough circumstances that contribute to the growing popularity of the blockchain in Africa today. A significant part of African population is unbanked. Many African countries have weak and unreliable currencies. The level of corruption and inflation in some African countries is also very high.
So, I believe that blockchain technology can do much good in Africa and should be developed.
This. Just by reading this we can conclude that internet connection isn't the one to be seeing of, instead look at the bigger picture, despite of having weak connection and poverty, Africa had accomplish big things that even a develop country didn't.As well as anywhere else, in Africa blockchain has many use cases and benefits. Secure and middlemen-free payments, cheaper transactions and services, fraudless and transparent elections, less human errors and inefficiencies.
We already have some excellent examples of blockchain usage in Africa:
- In Kenya, the government set up a blockchain to investigate and apply use cases for government services (education certificate verification, traffic management and financial transactions).
- In Uganda, banks will adopt blockchain technology where necessary to lower operational costs and risks
- In Sierra Leone, Swiss company Agora applied blockchain to ensure a fair count of electoral votes.
- In Ghana, a blockchain has been used to settle land disputes and store land registrations since 2016.
Moreover, there are enough circumstances that contribute to the growing popularity of the blockchain in Africa today. A significant part of African population is unbanked. Many African countries have weak and unreliable currencies. The level of corruption and inflation in some African countries is also very high.
So, I believe that blockchain technology can do much good in Africa and should be developed.
If having a strong connection is the basis here then South Korea should be the crypto haven with 28.6mbps.
September 16, 2018, 07:11:05 AM
Definitely, poor internet services cause uneasy crypto adoption because all transactions are done online. To learn more about bitcoin and other cryptos we need to have a fast and reliable internet connection for faster and easier browsing over the internet. And to avoid possible errors during transactions.
September 16, 2018, 06:04:01 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/
https://news.bitcoin.com/poor-internet-access-could-slow-down-cryptocurrency-growth-in-africa/
I guess it is somewhat of an issue at this stage.
But it really is a non-issue in the long run, and initiatives can be taken in the short term as well to help the unbanked population in Africa in obtaining some form of financial security, especially in countries where the fiat currency may be extremely volatile and depreciative.
In the long run we all know that internet connectivity is going to be much better worldwide, Africa included. And even though connectivity is bad at the moment, the biggest problem isn't really actual adoption, but awareness of bitcoin altogether. Certain organizations could definitely help the unbanked even without a stable internet connection through services like sending bitcoin through SMS which is already a familiar concept in countries like Zimbabwe with fiat currency, until the internet situation gets better in the long run and more people gets to know BTC and adopt it, where these services will not be necessary.
September 16, 2018, 12:26:11 AM
Corruption has been a major factor militating the growth of infrastructures in African, funds meant for the development of keys sectors like provision of electricity, internet facilities, water, good roads etc are being diverted by some scrupulous politicians, invariably all these had been hampering the growth of Cryptos in Africa. South africa, Nigeria, Kenya and few countries where Cryptos had made an inroad and had not really made too much impacts.
September 16, 2018, 12:09:51 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.
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.
September 15, 2018, 07:36:45 PM
I think people who live in Africa must be concerned about the internet as the main because I think the internet is a connecting bridge with the cryptocurrency business so I suggest to improve the quality and internet service after completing it can go to the cryptocurrency business.
September 15, 2018, 07:25:58 PM
That is the reality if the internet in some places of the world like african region have experienced poor services in this particular area would really hamper the cryptocurrency adoption of africa , this is the main problem of crypto activities in area where there is inadequate supply of pwer and internet access in the area.
September 15, 2018, 06:35:14 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/
Jump to: