Bitcoin is Gaining Traction in Africa
Bitcoin is rising pretty fast in Africa. In fact, the digital currency has been growing exponentially all around the world. This year there has been a substantial growth in investments related to the digital currency and Africa is no exception to this trend. A lot of startups are springing up with innovative applications for Bitcoin in the African context; these innovative applications are disrupting the remittance market and making the cryptocurrency available over SMS. The main Bitcoin startups leading this new revolution in the continent are already widely known within the community:....
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International remittance is ostensibly one of the most compelling use cases for bitcoin and digital currencies. Recorded remittances to Africa grew four-fold between 1990 and 2010 and have increased steadily since. The World Bank projects $39bn in remittances to sub-Saharan Africa this year. Yet with the continent's fast-growing middle class and tech-savvy youth population, the high cost of remitting to sub-Saharan Africa, particularly from within Africa, has brought the subject of financial inclusion under new light. Africa has some serious market potential for bitcoin companies;....
In Southeast Asia, Bitcoin is gaining traction as a genuine store of value as investors in the region are viewing the digital currency as an attractive investment opportunity. Among the Bitcoin companies located there, Luno (formerly BitX) and Bitcoin Indonesia have watched this growth with interest. Headquartered in Singapore, Luno allows customers to buy, sell and store the digital currency. It operates in several countries around the world including the U.K., South Africa and Nigeria. In Southeast Asia, Luno has operations in Malaysia, one of its largest markets, as well as in....
While most bitcoin startups are based in developed nations such as the US or the UK, there has been steady growth in developing countries as well. In particular, Indonesia has seen signs of bitcoin gaining traction in the payments and money remittance sector. A report released in the Wall Street Journal revealed that majority of the locals started to use bitcoin online and began to appreciate bitcoin's low transaction fees and speed. Bitcoin exchanges have also opened left and right, allowing investors to profit from price changes in the cryptocurrency. Bitcoin Developments in Indonesia.....
Binance, one of the top cryptocurrencies and blockchains, has announced its collaboration with the confederation of African Football (CAF). While cryptocurrency adoption is gaining popularity globally, the continent of Africa seems to have minor participants in digital assets. Several sports activities such as football and basketball are receiving crypto sponsorships and backing to promote the […]
Editor’s Note: This article has been changed to make the nature of the Bitcoin Africa Conference more clear. The name of this title is “Bitcoin Africa Conference,” and this is the first time the conference has been held. The author of this article was not saying that this Bitcoin conference is the very first one in Africa. We apologize for any misunderstanding. As you may know, the world’s first Bitcoin Africa Conference will be held on April 16-17, 2015 in Cape Town, South Africa. With all the buzz surrounding Bitcoin in Africa lately, it is no surprise that the first conference has made....