Fighting Monetary Colonialism With Open-Source Code
France still uses monetary colonialism to exploit 15 African nations. Could Bitcoin be a way out?In the fall of 1993, Fodé Diop’s family was saving up for his future. A brilliant 18-year-old living in Senegal, Fodé had a bright path in front of him as a basketball player and an engineer. His father, a school teacher, had helped him find inspiration in computers and in connecting with the world around him. And his athletic talents had won him offers to study in Europe and in the United States.But when he woke up on the morning of January 12, 1994, everything had changed. Overnight, his....
Related News
Bitcoin, an open-source monetary system, can supercharge open-source development projects and vice versa.
One of Bitcoin's most important security features, a crucial property that makes the system trustless, is its open source nature. Because Bitcoin’s code is open source, anyone able to read code can check for themselves whether it does what it's supposed to do. Plus, as per Linus's Law: Given enough eyeballs, all bugs are shallow. But open source code doesn't necessarily eliminate all risk. Users still need to trust that the software they run on their computers actually reflects the open source code as it should. To eliminate this risk, Bitcoin developers have developed a fierce security....
Privacy-centered digital currency Darkcoin (DRK) is now a fully open-source cryptocurrency as it unveils its source code and moves out of the beta stages of development. Last Monday, Darkcoin' s developers released its latest version called RC5. Following this release, the developers believed their software was ready for mainstream use and decided to open the source code of its key technology, Darksend, according to a press release. Just as Bitcoin, developers can now build upon Darkcoin's source code. Introduced in January 2014, Darkcoin is a privacy-centered P2P cryptocurrency, initially....
Fodé Diop explains why Bitcoin and Lightning have the power to end monetary colonialism in the developing world.
Bitcoin was released to the public as an open source project that allows anyone in the world to not only transact in a decentralized manner, but also help modify the code. Many open source projects like Linux have started with the source code followed by a myriad of alternative implementations. However, for some reason, in the Bitcoin space alternative....