Why Africa’s Erstwhile Largest Economy Lags Behind With Bitcoin
Nigeria lost its title as Africa’s largest economy about a month ago since falling into recession. However, Bitcoin use has not taken a due uptake there when compared on the same scale with other African Bitcoin markets in South Africa and Kenya going by previous details from fiatleak.com and LocalBitcoins.com. And this is for several reasons. Though it has the market, the largest population size on the continent, the remittance prowess that ranks in the top five in the world and a worsening economic situation - a faltering currency and plunging oil revenues, one would have expected....
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Decentralized technologies like Bitcoin and emergency response app Cell 411 could help with South Africa’s economy and high crime rates. Bitcoin’s potential to alleviate economic woes. South Africa’s government has let its citizens down, overseeing both a disappointing economy and a frightening crime rate. Thankfully, the people still have recourse in decentralized technology. With Bitcoin in one metaphorical hand and Cell 411 in the other, the average South African can hope for a brighter future, government incompetence be damned. South Africa’s economy is in trouble. Sluggish economic....
India is now the world’s fifth-largest economy after surpassing the U.K., the latest data from the International Monetary Fund (IMF) shows. India’s former chief economic advisor expects the country to become the world’s third-largest economy by 2028-30.
India Becomes 5th Largest Economy in the World
India has leaped past the U.K. and become the fifth-biggest economy, Bloomberg reported Friday, citing IMF’s GDP data and historic exchange rates. According to this estimation, India surpassed the U.K. in the last quarter of 2021 and is now behind....
Africa’s largest economy has become a bastion for crypto adoption. Nigeria’s Finance Ministry is reportedly in talks with the country’s securities regulator to develop a new framework for blockchain and cryptocurrencies -- a move that could accelerate adoption in Africa’s largest economy. Business Day, a Nigerian market intelligence publication, reported Tuesday that the Ministry of Finance is working with the Abuja-based Securities and Exchange Commission, or SEC, to “provide a regulatory environment for blockchain” and digital assets. The publication cites Ministry adviser Amstrong....
Leading blockchain protocols and other actors jockey for position in the race to build and mold Africa’s emerging Web3 economy. Whatever you prefer to call it — crypto, blockchain or Web3 — this new segment of the digital economy is booming across Africa. If you’ve been sleeping on the sector, now’s a good time to wake up.Why? Well for one, according to analytics firm Chainalysis, Africa’s crypto market increased in value by more than 1,200% between July 2020 and June 2021. Led by especially high adoption rates in Kenya, South Africa, Nigeria and Tanzania, Africa had the third-fastest....
PRESS RELEASE. With relaxed restrictions on lockdown measures in numerous countries around the world, Africa has opened her doors to tourists on both national and international levels yet again – albeit with strict health regulations to ensure the safety of all personnel and visitors. Africa’s largest online tour operators, MoAfrika, offers tourists from around the world the opportunity to travel the length and width of the gorgeous African continent by making use of its unique tour offering, now with an added advantage. MoAfrika now supports payment in Bitcoin so tourists,....