What Stands in the Way of Bitcoin Mass Adoption in Africa
Potentially, Africa’s huge unbanked population combined with the burdensome process of opening and operating a bank account should make Bitcoin an instant hit. However, its adoption has been irritatingly slow even though the basic infrastructure is not missing. It is estimated that by the end of this decade that 80 percent of the continent’s more than 1.2 bln population would be using Smartphones. Then what hinders Bitcoin penetration in Africa? Cointelegraph spoke about it with experts in the cryptocurrency community on the so-called dark continent. Fear of change Scrutinizing the....
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"Everyone thinks bitcoin is the currency of criminals." According to Alasdair Rambaud, senior vice president for payment solutions provider CardinalCommerce and a self-proclaimed bitcoin user, this is the only factor prohibiting bitcoin from mass adoption. Rambaud believes that "most large merchants" in the US are currently looking into accepting bitcoin as payment, and that the reasons go far deeper than the publicity that can be gained. Rambaud told CoinDesk: "I don't see any other barriers to mass adoption of this aside from the image. It's easy to use, super transparent and you don't....
Blockchain and crypto enthusiasts have for years preached about the much envisioned mass adoption of this fintech and why this is an important goal that must be achieved sooner than later. However, many factors like ignorance, a lack of information, and poor telecommunication infrastructure have made the attainment of this objective difficult.
A Book of ‘Immeasurable’ Importance
In Africa, where proponents of cryptocurrencies believe the technology has a better chance of succeeding, the task of convincing the continent’s citizens is made even more difficult....
This April, the city of Cape Town, South Africa plays host to the first ever Bitcoin conference in Africa. The event is set to take place on the 16th and 17th April 2015 at the Atlantic Imbizo Conference and Function Studio, located at the Victoria and Albert Waterfront. The Bitcoin Africa Conference will bring together merchants, investors, venture capitalists, startups and Bitcoin enthusiasts who are all looking to move Bitcoin forward in Africa. Bitcoin in Africa is at a decidedly infant stage. Subjects to be discussed include what bitcoin is, the blockchain, merchant adoption, and the....
Bitcoin adoption around the world is a patient process, as one of the factors involved in the currency’s success relies on internet connectivity. The Western world has gotten accustomed to having the internet at their disposal wherever they go, but things are vastly different in areas such as Africa, South America and parts of Asia. Facebook wants to....
When the words Bitcoin and Africa appear in a sentence, the word remittance usually follows. When Bitcoin first hit the mainstream in 2013, its low-cost money transfer feature was hailed as the solution to the overly expensive remittance costs charged by the large money transfer operators (MTOs), Western Union and MoneyGram. This is especially true when it comes to transferring funds to Africa. However, in the eight years since Bitcoin was first launched, bitcoin remittances in Africa have not really taken off. Bitcoin’s Challenges in Kenya. Bitcoin is an industry that regularly likes to....