It has been a long time since most countries outside Africa have benefited from cryptocurrency.
One thing we all know about the cryptocurrency world is that it is not hindered by geographical location.
The internet access that is nowadays cheaper than it was before is all it takes to make any transaction.
The transactions basically are stored on an online database called a blockchain.
The main advantages here is all these are not regulated by the government and a middleman is not needed and should we consider the fact that this can happen anywhere in the world.
This makes Africa one of the continents that are well suited for virtual currency, beyond that you might be able to notice that digital currency has been growing in Africa steadily.
Over the recent years Africa has not been mentioned anywhere in the cryptocurrency users but of how all these things are looking, it will surely catch up.
With countries who faced high inflation in the past years adopting the new technology, we might have to see this for ourselves.
Some countries like Egypt, Malawi, Zimbabwe, Nigeria, Zambia, Mozambique and Ghana who faced some higher inflation before have been some of the leading countries in cryptocurrency in Africa
This shouldn't surprise us as we all know that blockchain is one of the very few things that can handle Inflation in these kind of countries.
according to gobitcoin.io and BBC of recent added that bitcoin is gaining a firm ground in Uganda
Who remembers when inflation skyrocketed in Zimbabwe?
Sources say 100 trillion notes worth of $40 were printed.
https://www.theguardian.com/money/2016/may/14/zimbabwe-trillion-dollar-note-hyerinflation-investment
This time, many people turned to bitcoin.
There will be a lot more people to use blockchain in the near future, we can all guarantee.
With so many people owning smartphones here, with mobile digital wallets on their mobile phones.
I have a friend who occasionally checks his bitcoin wallet each day.
I think with time we shall have more of those people.
"I check my Bitcoin every day [on my mobile phone] and any chance I can get. Any minute, any hour, anytime, as often as I can," Peace Akware, a Ugandan millennial, told the BBC.
By BBC on bitcoin usage in Uganda.
Of now.
Of now Africa governments are not regulating any cryptocurrencies, we hang in there not knowing what they can do next. But for now it looks like they want this technology to grow and spread all over Africa. Many Africa countries have given it a go ahead. BRAVO.
It has been a smooth start so far, let's even work harder and hope for the best.
With platforms like steemit, there is a high possibility someone would love to know about blockchain
Thanks for passing by.
as always.
@tesaganewton
