The reason for these people to create their own tokens is that they have a purpose behind their projects. Simply using Bitcoin wouldn't help them achieve what they are trying to achieve. For instance, Akoin is building a brand new city in Senegal where only Akoin will be the official currency, Sango has different use cases for their coin, and Alkebulan wants to build schools & other necessary projects in rural Africa. These won't be possible if they just adopt Bitcoin.
To say that Africans don't have the knowledge to use such technology is very condescending. Africa & Africans have provided so much to this world in terms of technology.
Topic: Why Africa needs a single digital currency to prosper. - page 2. (Read 268 times)
Why don't you simply adopt bitcoin? It's not necessary to create new cryptocurrencies to fulfill the same functions of bitcoin. The solution already exists and it is disponible for anyone who wants to use, so just go for it instead of seeing issues where there aren't any. The point is that people want to earn money by creating their own altcoins and pumping it, but since they don't have any innovative feature to offer or any good reason to justify the adoption of their altcoins, they copy the arguments used by bitcoin adopters for their own causes, although it doesn't make sense for people who have at least a little knowledge about bitcoin and crypto.
It is necessary, but only if literacy in this area is improved among the African population. Without that, the introduction of digital currencies will not have any positive effect. Just being able to manage their finances is not enough, people need to have a clear understanding of this technology and its benefits. This could take years or even decades.
Lots of young Africa’s have started to adopt bitcoin over recent years. It’s mostly purely due to many of them unfortunately being unbanked. I don’t think many of them use it as an investment vehicle to try & get rich, it’s used as currency there which is cool.
as someone who posted above said well, we already have digital currency in africa, so your project has nothing good and new to change in africa and i say more, you don't know africa, african leaders who are mostly liar leaders and corrupt people love dictatorship and controlling everything, your currency would not be something that African leaders would approve, they would reject it soon and could even consider it a crime to use your altcoin, this is different from the bitcoin case where most African leaders are still undecided about what should do, but this indecision is because they still want to see what countries like the USA and the European Union will do
Except digital money doesn't have necessarily anything to do with cryptos. Most of the fiat money is in digital form already and projects like these are just for scamming and making the coin issuer rich. They trust that people aren't educated enough to see the scam and target those people.
Does Africa need a single digital currency to prosper.
1) Transaction is instant. This eliminates cash flow issues for small traders in Africa. Transaction cost is minute, with no monthly bank fees. All transactions are visible for everyone to see on the Blockchain. No confusion about whether the payment was made or not.
2) By managing your own finances makes you understand money better. Once you understand the money you become more business savvy. Once you are business savvy your chances of getting out of poverty will increase. [.
3) The need to understand technology is eliminated since the whole operation is done inside the wallet. Makes it easy for a rural farmer with very little technical knowledge can still manage his own money properly.
4) The ability to trade internationally will open up a huge market for small businesses in Africa. Imagine the size of the market for a small trader selling local artefacts to 8 Billion potential customers.
5) Every African with a mobile phone can buy and sell products internationally instantly.
On top of that these projects think Africa needs a single digital currency.
Akoin | Oduwa Coin | AlkebuLAN | Sango
If you think Africa needs a single digital currency support these projects.
Jump to: