The used of Bitcoin in Africa - page 5.

UmerIdrees

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Quote from: Kelvinikke on March 12, 2019, 03:54:21 AM

It is very great that Africa seems to be embracing the blockchain technology at its developmental stage and not wait till the latter times when they come on board. From the news that i have also read it seems South Africa, Nigeria and Kenya seems to be the countries that are really pushing for the acceptance of bitcoin and other cryptocurrencies. Hopefully all the others would join soon.

Ever since i have born , i have been hearing that Africans are the most underdeveloped nations and they lack the basis needs of life. But i think now is the time to for Africans to change their fate by adopting and using the block-chain and crypto currencies.

Quote from: shamc on March 14, 2019, 03:43:43 AM

The problem is that bitcoin needs connectivity to operate and Africa doesn't have the right infrastructure. In cities it will work well, but they need to push the internet as far out as possible before mainstream adoption

Where there is a will, there is a way too. Africans will overcome all the hurdles and will be the first continent to adopt block chain technology.

BeGoods

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Quote from: Kelvinikke on March 12, 2019, 03:54:21 AM

It is very great that Africa seems to be embracing the blockchain technology at its developmental stage and not wait till the latter times when they come on board. From the news that i have also read it seems South Africa, Nigeria and Kenya seems to be the countries that are really pushing for the acceptance of bitcoin and other cryptocurrencies. Hopefully all the others would join soon.

Going forward, of course many countries will begin to adopt bitcoin, but the African countries do have a slow development, due to certain factors. but we don't need to worry, economic and technological problems will progress in every country as time goes on

zee11225

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Quote from: acheampong64 on March 14, 2019, 05:27:14 AM

One thing I have realized is that many of the third world countries are rather seeing cryptos more of an investment as opposed to seeing their use cases and that's what is happening on the African continent. The too many failed government systems have opened the eyes of the millennial to adopt this revolution.

For now the use of bitcoin in Africa is not too large because infrastructure in countries like the internet is still not optimal, while the internet is a network that must be available to be able to use bitcoin. Besides that the education of the people in the interior has not been maximized so that knowledge about bitcoin is very minimal.
But for the next decade or for African countries with good economic growth, the use of bitcoin is growing rapidly, especially if the government issues regulations that allow bitcoin to be used for trade, investment and payment transactions.

fikal01

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People don't use banks there much. If they abandon their terrible fiat and rely on cryptos, that can lead to economic prosperity in the region.

Third world countries will also get the benefits of bitcoin and that only if anyone can apply it to their financial system. Wink

Crypto24hrs

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Bitcoin is being used as a way to enable Africans living in the Diaspora to send their money back home cheaply. One of these transfer platforms is Kenyan-based BitPesa, which five countries including Kenya, Nigeria, Uganda and Tanzania. Customers receive bitcoins and then convert it to local currencies by use of mobile money platforms. It offers its services at cheaper rates than traditional players such as Western Union and MoneyGram.
It is not a surprise that the use of bitcoin is on the increase in Africa.

Pattart

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Quote from: imstillthebest on March 14, 2019, 03:51:48 AM

Quote from: Johnzky on March 14, 2019, 03:46:10 AM

Quote from: ?? on ??

All we know that africa is not progressive country. I think they will not easily adopt the system because most of them are not aware in using technology. I think if they already know and adopt the system of using bitcoin they will have a chance or opportunity to change or improve their life to make it better.

Look how stupid this post was,do you know AFRICA?It is not a country instead it’s a continent that compose of more than 50 countries and you are the only person here that think africa is not progressive country(continent)because thats why they are embracing cryptocurrency for progress and not just for anything,i guess you’re the one must have progression and must learn to use google first before posting because you don’t know how offending your comments was.

he isnt the only one that thinks africa is a poor country because im also thinking the same and im sure we arent alone with that . lots of people also think that africa is a poor country because thats what we see and thats what we hear online or offline but you might be correct . we dont know if africa is still the same or they maybe improve because we are now on the future .

The whole world knows that, most of their countries are still said to be poor countries. only a few cities can be said to be quite advanced and feasible for technological growth such as crypto. from that, we know that the problem of user growth is very complex isnt it ? so be patient.

gabbie2010

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Its good to hear that Africans are making inroad and headway to the usage of bitcoin however there is a lot of work and challenges toward actualizing the ultimate goal of the massive adoption of this coin, the sensitization and information dissemination about about is not vigorously carried out which resulted into skepticism by some people who heard some little information about it but doubted its legitimacy.
Some government unfriendly attitudes towards cryptos in Africa is another bureaucratic bottleneck and barrier towards its massive adoption in a situation where the Central Banking official makes a derogatory remarks about the dangers in investing in it will result into caution to would-be investors.
Be as it may individual or private investors are gradually increasing and fully utilizing the benefits of using bitcoin especially in trading a lot of online services in the buying and selling of bitcoin especially in Nigeria.

tranthidung

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Farewell o_e_l_e_o

You maybe right for now, but in the future it might change.
When African crypto enthusiasts have better knowledge, experience, and of course better skills, both technical and scam skills (LOL), your statement might not be right anymore.
Fortunately, time will help investors become more knowledgeable, and with their own experience, precious lessons in crypto for years (losses, invest in scam projects, for example), they might become smarter and more carefully with their investment.
Consequently, over time, scam projects will harder to get succeed.
Anyway, in other side, scammers always find out ways to adapt and make more complicated scam projects.

Quote from: CryptopreneurBrainboss on March 26, 2019, 11:24:10 PM

It would surprise you if you carryout some research, the most professional scammers are Asians they were in charge of all the ico scam am not sure we have Africans with enough blockchain experience to run a successful scam.

CryptopreneurBrainboss

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Quote from: chrisjohny4316 on March 12, 2019, 12:44:00 AM

Thats good meanwhile I believe the most scammer are from these countries

It would surprise you if you carryout some research, the most professional scammers are Asians they were in charge of all the ico scam am not sure we have Africans with enough blockchain experience to run a successful scam. The only reason why you think Africans are the most scammers is because they're been catch but what about others nationa that has professionals and aren't been catch. I don't support scam but can we just have a decent discussion without always pointing out the continent flaws.

xWolfx

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Quote from: chrisjohny4316 on March 12, 2019, 12:44:00 AM

Thats good meanwhile I believe the most scammer are from these countries

Where you count African countries you need to count Venezuela too. Of course the scammers are not an exception to the rule, seems to be a really profitable business even when i don't like getting involved in those practices.

The big poverty is another subject. Bitcoin and ways of making it are of course another thing. Being able to have income based on other currency other than the poor fiat currency of those countries is a huge plus.

SIDDHI777

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Many on line Statistics say Bitcoin and other cryptocurrencies are much popular among African countries and that can be true because there are even several ICO projects that was implemented like Kora Network,Golix,Wala and many other in African countries like Zimbabwe, Nigeria, South Africa and many are yet to come and that can definitely help to improve there economical development immensely

CryptopreneurBrainboss

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Quote from: ?? on ??

All we know that africa is not progressive country. I think they will not easily adopt the system because most of them are not aware in using technology. I think if they already know and adopt the system of using bitcoin they will have a chance or opportunity to change or improve their life to make it better.

Firstly, africa isn't a country it's a continent just like Europe and American ignore the bad news you hear about africa on television it's a beautiful continent to visit also africa isn't poor, we're been raped by the westerners. I wrote a thread on that tilted "Africa isn't poor - Africa is being raped".

hemendrasingh123

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The use of bitcoins has been increasing day by day in Africa. They are using Bitcoins as investment plans rather than using it as a medium of payment. In April 2015, Africa held its first ever Bitcoin conference in Cape Town, South Africa, and was followed up by another event in March this year. Now they are using bitcoins in following methods like Money Transfer, Tackling Piracy in Music, Metering Services, Crowdsourcing Ad, Online Payments, Payment for Products, Microfinance Institution and bidorbuy.

MFahad

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Quote from: acheampong64 on March 14, 2019, 05:27:14 AM

One thing I have realized is that many of the third world countries are rather seeing cryptos more of an investment as opposed to seeing their use cases and that's what is happening on the African continent. The too many failed government systems have opened the eyes of the millennial to adopt this revolution.

Yeah, it is true, in third world countries have more investment on crypto currency. May be the reason in these countries a huge people are job less and most of the people prefer business or investment than job. But it is good new for all crypto users.
About Africa it is lovely continent and it is progress that bitcoin is getting success in it.

acheampong64

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One thing I have realized is that many of the third world countries are rather seeing cryptos more of an investment as opposed to seeing their use cases and that's what is happening on the African continent. The too many failed government systems have opened the eyes of the millennial to adopt this revolution.

imstillthebest

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Quote from: Johnzky on March 14, 2019, 03:46:10 AM

Quote from: ?? on ??

All we know that africa is not progressive country. I think they will not easily adopt the system because most of them are not aware in using technology. I think if they already know and adopt the system of using bitcoin they will have a chance or opportunity to change or improve their life to make it better.

Look how stupid this post was,do you know AFRICA?It is not a country instead it’s a continent that compose of more than 50 countries and you are the only person here that think africa is not progressive country(continent)because thats why they are embracing cryptocurrency for progress and not just for anything,i guess you’re the one must have progression and must learn to use google first before posting because you don’t know how offending your comments was.

he isnt the only one that thinks africa is a poor country because im also thinking the same and im sure we arent alone with that . lots of people also think that africa is a poor country because thats what we see and thats what we hear online or offline but you might be correct . we dont know if africa is still the same or they maybe improve because we are now on the future .

Johnzky

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Quote from: ?? on ??

All we know that africa is not progressive country. I think they will not easily adopt the system because most of them are not aware in using technology. I think if they already know and adopt the system of using bitcoin they will have a chance or opportunity to change or improve their life to make it better.

Look how stupid this post was,do you know AFRICA?It is not a country instead it’s a continent that compose of more than 50 countries and you are the only person here that think africa is not progressive country(continent)because thats why they are embracing cryptocurrency for progress and not just for anything,i guess you’re the one must have progression and must learn to use google first before posting because you don’t know how offending your comments was.

shamc

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The problem is that bitcoin needs connectivity to operate and Africa doesn't have the right infrastructure. In cities it will work well, but they need to push the internet as far out as possible before mainstream adoption

southafricadude

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Quote from: ?? on ??

All we know that africa is not progressive country. I think they will not easily adopt the system because most of them are not aware in using technology. I think if they already know and adopt the system of using bitcoin they will have a chance or opportunity to change or improve their life to make it better.

Africa is a continent comprising of 54 different countries, all with their own laws and governments. Some are more or less progressive than others in Africa and the rest of the world.
There is definitely awareness of the technology, including other blockchain technologies other than bitcoin. I think the blockchain Africa conference has been running a few years now, and that always has regulators and people from different big banks etc in Africa in attendance. The banks and regulators in South Africa work with the exchanges to make sure users are doing KYC and AML, have proof of residence etc.

Unfortunately many people in these countries are drawn to bitcoin as a way to 'get rich quick', since pyramid and ponzi schemes are running rampant. I would say at least half of everyone involved in crypto is in some sort of scheme, based on the people who contact me for information. While it could be used to make lives better, it often makes things worse for those who get sucked into ponzi schemes. The best you can do is keep helping people to do things properly the 'legit' way.

Kelvinikke

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It is very great that Africa seems to be embracing the blockchain technology at its developmental stage and not wait till the latter times when they come on board. From the news that i have also read it seems South Africa, Nigeria and Kenya seems to be the countries that are really pushing for the acceptance of bitcoin and other cryptocurrencies. Hopefully all the others would join soon.

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