Africa, the continent alongside the most countries inward the basis together with 54 currencies could exercise goodness immensely from to a greater extent than digital currency together with blockchain education. I am fortunate plenty to alive inward 1 of Africa’s advanced economies, South Africa, where I am based inward Johannesburg, the continent’s pride together with joy. This is where thousands of Africans migrate every yr from all over the continent to earn a living. The urban nub has every kickoff basis facility you lot tin intend of — similar high speed trains, world-class airports together with some of the globe’s best sporting facilities. It was the solely urban nub inward Africa to host a FIFA World Cup Final inward 2010. It’s misfortunate that, despite this, African people soundless know really piffling of digital currencies together with blockchain — fifty-fifty bitcoin, which has been inward existence over 7 years now.
I interviewed Zimbabwean immigrant Lovemore Tavengwa at the bustling Johannesburg commons station inward the urban nub see where he plant every bit a hawker, wanting to know virtually how he together with other Zimbabweans shipping money to their loved ones dorsum home.
“It’s a tough situation,” Tavengwa laments. His solid pose down uses the the U.S.A. dollar, South African rand together with the Chinese yuan every bit currencies. “You see, most of us are unbanked inward South Africa together with inward Zimbabwe. So nosotros role payment methods similar Western Union together with others. The occupation is the fees are high. So the best affair for us is to bear the cash when nosotros acquire home, or inquire a double-decker driver or anyone going habitation to courier it for us. This has resulted inward monies beingness lost along the way.”
When I asked if he knew anything virtually bitcoin, he said he had piffling cognition together with believed bitcoin was used solely to participate inward Ponzi schemes. ”I’m soundless skeptical virtually that,” he said. He did, however, enjoin me that he would welcome whatever payment method that would ensure his loved ones received their money safely together with quickly.
Tavengwa is non the solely 1 who is soundless misinformed virtually bitcoin together with how it works. Most people inward South Africa together with the residuum of Africa are soundless inward the nighttime virtually it, from academy students to professionals. I’ve asked people inward shopping malls, gyms together with churches virtually their cognition of bitcoin together with discovered that a vast bulk of them didn’t accept whatever thought what I was talking about.
It’s non all doom together with gloom though. South African startup Bitbuybit, based inward the upper-case missive of the alphabet urban nub of Tshwane/Pretoria, is seeing an increase inward bitcoin awareness. Established inward May 2015, Bitbuybit is an educational programme designed to educate the full general population of South Africa together with its neighboring countries slap-up to larn to a greater extent than virtually bitcoin together with other digital currencies. I spoke to its founder, Reuel Leach, who too runs South Africa’s kickoff bitcoin shop.
“It’s all virtually educating people virtually bitcoin,” Leach enthused. “When nosotros started, nosotros attracted involvement from a diverseness of people. There were entrepreneurs who were simply interested inward making money out of bitcoin when it gains value. We too had people who were enticed to bring together Ponzi schemes using the currency, but had no thought of how it works, together with at that spot those who simply wanted to learn,” he said. “Soon the auditoriums were packed, calendar week in, calendar week out, together with nosotros were overwhelmed past times involvement from the media together with people inward full general who wanted to know simply how legitimate the digital currency is.”
And so at that spot is BitPesa, a universal payment together with trading platform founded inward Nairobi, Kenya, inward 2013. Focusing on business-to-business customers, it allows users to convert digital currencies, such every bit bitcoin, into local currencies. BitPesa straightaway operates inward Kenya, Nigeria, Republic of Uganda together with Tanzania. Anyone inward these countries tin merchandise alongside businesses around the globe using BitPesa.
Developments similar BitPesa together with Bitmari, which allows users to merchandise alongside each other inward their native languages land helping woman somebody farmers inward Zimbabwe, are indeed beacons of promise for Africa.
We need, however, to a greater extent than awareness campaigns to educate people virtually bitcoin. The African continent needs needs to a greater extent than initiatives similar the Blockchain & Bitcoin Africa Conference, which held its initiative trial inward Cape Town inward 2015. With the Bitcoin ecospace straightaway safer than earlier — alongside the availability of bitcoin safes similar Trezor, for illustration — I don’t come across a argue why nosotros shouldn’t adopt bitcoin for role inward large numbers.
Former South African president, Thabo Mbeki, an economist together with a staunch proponent of ideas for an African Renaissance, 1 time suggested that Africa should develop its ain currency, which could hold out used inward all African states similar the euro is used inward Europe. This was welcomed every bit a vivid thought past times many, but never came to fruition. Now, I’m non suggesting bitcoin hold out the “African currency,” but if it were, it would amend millions of lives on the continent together with exercise opportunities.
This op-ed is a invitee post service past times Zama Dyani. The views expressed are his ain together with exercise non necessarily represent those of Bitcoin Magazine.
The post service Op Ed: Africa Needs More Bitcoin together with Blockchain Education appeared kickoff on Bitcoin Magazine.
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