Africa May Leapfrog Traditional Banking
If bitcoin acceptance reaches a critical mass where necessities of food, shelter, and clothing can be bought with it, it will likely have reached a tipping point where it displaces national currencies. In this scenario, many areas of the world would be leapfrogging banking infrastructure and traditional money wire transfers. Most notably this would describe the financial landscape in developing economies such as the nations of Africa. “The combination of ubiquitous Internet-connected mobile devices and digital currency presents a tremendous opportunity to radically expand access to....
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We are living a moment in Human history where new technologies and other innovations are about to disrupt the financial landscape. With the advent of mobile devices, a fresh financial revolution is under way; a whole new generation of financial services is being developed to take advantage of the amazing opportunities which both mobile devices and the blockchain technologies are able to provide. Where once there was no chance of accessing banking services, mobile technology gave birth to a generation of services bound to shake the foundations of the traditional financial system. In many of....
Werner van Rooyen, head of Business Development and Growth at Bitx, one of Africa’s biggest Bitcoin exchanges, spoke to CoinTelegraph about the problems and potential of Bitcoin in Africa. CoinTelegraph: Bitcoin use in Africa has improved in the last couple of years. What has really changed? Werner van Rooyen: Bitcoin, as measured in the amount of transactions per day, is steadily rising in Africa as it is in the rest of the world. Trading between local currencies and Bitcoin is higher today than it had been a few years back and there’s a big increase in Bitcoin awareness and discussion,....
Curious how the BTC invasion of Africa is going? If you've got five minutes, the below film might be a great way to spend it. Also read: Coming to Africa: Bitcoin Ready to Invade
A Blockchain research arm of a bank in South Africa has said the technology could take up to 40% of banks’ revenue if it becomes a global standard. South Africa ‘Will End Up with a Blockchain’. Speaking at the Gordon Institute of Business Science Wednesday, Rand Merchant Bank’s (RMB) Farzam Ehsani said that blockchain “calls institutions to a new....
Africa has been “late to the fintech party,” according to a report by African news service Quartz. However, peer-to-peer payment processors like M-Pesa and digital currencies such as Bitcoin are providing greater accessibility to banking services on the continent — a trend that legacy banks such as Barclays are starting to not only acknowledge, but also....