Topic: What is happening in Africa? And what can we make happen? (Read 1369 times)

Ok. I have tickets and I'll be in Africa for the new year to start the next geo-cache game. I will start a new thread in the games section when that time comes.
Now I just need to find someone to rent me proper wheels for bitcoin.

Yes, you are moving in the right direction, it is in Africa that now you need to help in the knowledge of Bitcoin.

Bitcoin is making no headway???  Which Bitcoin are you talking about, is it the one whose price increased by over 100% within 365 days, the one that was worth few cents couple of years back, but now worth almost $1300, current market capitalization at $20,639,890,722? Looks to me like you will be needing more help than does many from the so called backward continent!

Whereas Bitcoin technology makes it possible for you to send and receive Bitcoins without disclosing your identity, it is however far from giving perfect anonymity. Bitcoin at best is only pseudonymous and those high net worth wallets do ring bells and can be traced. Btw I can furnish you with as many local exchanges and ways to cash your Bitcoin from even a village in Nigeria.

Those monopolies are one of the problems people are facing and which is precisely one of the issues Bitcoin have risen to resolve. We now have startup remittance companies that are giving those so called huge companies a fight for every client out there and they are doing quite well.

Once again, you drifted there! Bitcoin is decentralized and borderless, the governments that experimented with banning it, ended up learning some bitter lessons - China, Russia, India in case you need an instance! The conclusion of the matter is, Bitcoin goes on with or without the government!

I believe that bitcoin has a big future in developing countries.

When countries have an economic problem, which is especially prone in underdevolped and developing countries, they seek alternatives. Nobody in the US is seeking alternatives because they have the comfort of having a stable currency, even though we know it'll burst anytime.

Just look at Venezuela, when the economy crashes, everyone races to BTC.

I believe that it's going to be something similar in Africa. Help the unbanked get a bank account in bitcoin.

Personally I don't think that Bitcoin will be able to makeway in these countries when they can't even make way in countries that are fully technologically advanced like the United States, Canada, all of Western Europe and so on. I know some people point to the fact that in Africa people would be using Bitcoin as a way to hide money from the corruput government but what's the bitcoin going to do for them if they're unable to cash it out across Africa?

I guess using Bitcoin is cheaper than using a money transferring / wire service like western union or one of those types of things but I can't see it taking way like one of those huge monopoly like companies.

Plus, I doubt the corrupt governments are going to allow Bitcoint to thrive and we all know that's the deciding factor when it comes to IF bitcoin can take way in a country. Probably going to see tons of regulations by the government.

This was what MadGamer had to say about remittance in North Africa and it doesn't seem to agree with yours? 

Perhaps a case need to be made for Algeria and Tunis to be carried along by Bitwala - dont know about this company! Same way I have been using Bitpesa for almost a year and it is even a Kenyan company, but doing business across 4 African countries including Nigeria. I easily convert BTC to Naira or the reverse, using their services, though their fees can be a source for concern.

Wow guys, I’m flattered by all your kind words. I am just paying forward the help and guidance I received as a newbie. I think bitcoin can do a lot of good in the world simply by leveling the table for the poor, the un-banked and victims of oppressive monetary policy.  For me it’s not about handing out free cookies, but developing a system that keeps anyone from eating anyone else's cookie. 

Your insights are very helpful. I know little about M-Pesa and the other payment options in Africa. So I really need the information you are providing if I am going to talk to people about bitcoin.  I also agree with what all of you are saying, including the criticisms. This will not be easy, especially since I plan are targeting a place hostile to bitcoin rather than a place like Kenya that is embracing it. But I like to fight, lol.

My hope is to respectfully introduce people to the benefits of bitcoin and not come across as some white American here to save Africa. Africa is actually a happening place with lots of smart people doing innovative things.  It seems quite possible that in the future Africa could be teaching the rest of the world how to implement bitcoin.

1. theres HUNDREDS of lite wallet
2. many people have gone to africa. and it doesnt take much to teach them how to use it

3. the problem is not the tech. or teaching how to use.. its the COST of tx's that is holding bitcoin back in developing countries.
yep the solutions are third party services like xapo. or using LN hubs. but then your removing all the elements of bitcoins uniqueness by making people reliant on counterparties (LN) or third parties (web app providers)

I think what people in Africa needs, is Bitcoin education. Someone should go there and train a few people and then send them out to teach other.

Most people there do not have access to the same kind of internet infrastructure that we have in the first world countries, so Bitcoin adoption will

have to run on cell phones with expensive data packages. { Dependent on Cell phone providers }  .... Find a way for Bitcoin to run on the most

basic "non-smart phone" and older phones and you will have a winner. 

companies in Africa there must be rules that can be exchanged into local currency BTC in order to help them all.

Exactly, that is why I cannot understand all those people, who seem being encouraged by the idea to implement the bitcoin or any other cryptocurrency, to poor regions in Africa, for example Ethiopia, or Chad.
These area are extremely economically unstable, the population living there usually suffers for lack of water supply or food, not even talking about clothes.
Why would someone care about digital goods, or anything electronical, if he can't even eat this or use for working purposes?

I have never heard a more stupid idea, than to replace the fiat money in unstable african countries with unstable cryptocurrency, that may lose big part of its value in just an hours.
That could only increase the poverty, and crime rate among the population.

I sincerely hope this information is useful for you, when choosing your partners and supporters in the digital payment processors sector & money transfer services in Africa.

Current market research suggests that there are some emerging actors in the african scene such as: BitPesa and Sawapay.

BitPesa is a bitcoin payment and trading platform that enables users to buy and sell local currencies through bitcoin. BitPesa was founded in 2013. BitPesa 's Headquarters are located at Karen, Kenia. It has raised USD 3.6 millions in 3 rounds. The latest round was in 2017. Some of BitPesa 's investors include Draper VC, Greycroft LLC and Digital Currency Group. By means of combining the Bitcoin blockchain platform with the the cloud, Bitpesa has the ability to host their software platform or service from a remote location that can be freely accessed and used anywhere via Internet access. Customers deal directly with bitcoin when they buy them prior to sending their payment abroad. Bitpesa has around 6000 users, estimated USD 0.07 Billions total transaction volume. Estimated revenue (TTM): USD 1 million.

In short, BitPesa is a bitcoin payment and trading platform that enables users to buy and sell local currencies through bitcoin. Its goal is to allow individuals and businesses to send payments to and from Kenya, Nigeria, Uganda, and Tanzania.
      
Sawapay is an online money transfer platform that enables remittances to be sent and received via mobile devices. Sawapay was founded in 2015 and headquartered in Nairobi, Kenya. SawaPay allows users to send money from USA to recipients in Kenya and Uganda. The funds are conveniently sent via Android or iOS mobile app to bank accounts or mobile money accounts, including M-PESA. The app features also include the ability to purchase airtime with any carrier in Kenya, pay for utilities such as water, power, mortgage payments, and other PayBill services. In detail: Money transfers are allowed to Mobile Wallets/M-PESA (Kenya), M-PESA PayBill (Kenya), Bank Accounts (Kenya), Airtel Money (Uganda), MTN Mobile Money (Uganda). Sawapay has around 10000 users, estimated USD 0.1 Billions total transaction volume. Estimated revenue (TTM): USD 0.1 millions.
                                        
In short, Sawapay is an online money transfer platform that enables remittances to be sent and received via mobile devices. Sawapay was founded in 2015 and headquartered in Nairobi, Kenya.

Wishing you the best and regards.

It would be great if you could repeat your "Geo Treasure" project in Africa. I know South Africa and Kenya are strong Bitcoin countries in Africa and in Kenya we have strong competition for Bitcoin with M-Pesa. {BitPesa} I have not been to Windhoek yet, but I have visited some African countries like Zimbabwe and Kenya and in my experience they are very much 3rd world countries with poor infrastructure. ^hmmmmm^ 

You want to give a currency as volatile as bitcoin to a continent as poor as Africa?   Yeah, that'll help.  They trade phone minutes because it's useful.  Let them continue to do that.  All those countries need political revolution,  not some crazy crypto that could lose 50% of its value in a week.

I seriously admire your efforts to help develop Bitcoin in what is an often overlooked continent.

I'm a hardware guy and I have lived for years (in the past) in an underdeveloped country, so I often think of how even a meager income (to many) from hobby mining could be life changing to so much of the world. Aside from the economic cost of acquiring such hardware, is the infrastructure equipped to handle it?  The logistics of even having a place to purchase equipment is another issue. I think that introducing it as a method of digital payment is a good place to start. I'm neither a software nor an economics guy, but it seems that an easily accessible exchange to local fiat and a low fee coin (maybe an altcoin?) would be two of the biggest things to resolve.

Kudos to you for being bold enough and seeing the need that exists.

I'm very excited to know you are promoting the bitcoin economy and use, and also you wanna do it in Africa changing the lives the many people. Furthermore, I like the relation of sharing your knowledge with the people because it works for both parties. Your vision about Bitcoin, it's pure passion but I don't know if Bitcoin is ideal for daily use in Africa maybe another currency could be ideal for this case. Please, take in consideration my suggestion and I wish the best of lucks for your project.

It's really nice to see someone trying to build the Bitcoin universe, appreciate it.
I feel the real problem in Africa is not about transactions or earning if Bitcoin, it's about converting Bitcoin to their local Fiat, they need a solid exchange which is fast with low fees. That will definitely help them.

observation and feedback from africa when i spoke with them
"sounds greats".... couple days later... "whats this tx fee, why so high" ... "no thanks"

here are some insights of why m-pesa are preferred

m-pesa
During 2016, the service processed around 6 billion transactions, peaking in December 2016 at 529 transactions every second.

no charges to withdraw m-pesa to kenyan shilling using some ATMS
http://www.mpesacharges.com/equity-mpesa-atm-withdrawal-agent-number/
use atms to withdraw kenyan shillings in amounts that are 200ksh-70,000ksh (equivalent to $2-$670in dollars) daily limit 140,000ksh(~$1340)
able to send to others within the m-pesa in amounts of 10ksh-70,000($0.10-$670)at 1% or under in seconds

others have noted people in the US/UK/Europe buying bitcoin costs them a bit to exchange into bitcoin. and the whole bitcoin tx fee stuff.
then to convert it to kenyan shilling is another exchange cost.
makes using bitcoin as a method of remittance far more costly then people think

rodeoX:
iceland is an easy market (due to higher incomes and fee's of fiat). but africa on the other hand will be a real test of your skills. so be very prepared as its more of an uphill struggle. alot of out of the box thinking will be needed

In all North Africa countries, remittance is big business. The problem being that in Paris or Brussels, it's easy to buy BTC, but in Algiers or Tunis, it's difficult to exchange BTC into local currencies. Someone should create an exchange there to help.

You are absolutely right. If your real intention is to help the masses, then the government and big businesses should not be involved because they are the root cause of the problems in Africa.
RodeoX, Thanks for having such a project for Africa. I am a Nigerian, most Nigerians already know about bitcoin, but it was largely introduced through the activities of ponzi schemes in the country, so many are seeing it as something illegal. A re-orientation of what bitcoin really is, is truly needed in Nigeria, with that, I believe the project will thrive well in Nigeria and other African states.