I'm a Big fan of Bitcoin Cash and will continue to be one while I'm still building my business to become bigger on Bitcoin Cash.
During a conversation with a friend on twitter, he said, "Bitcoin is failing, how can we get more users to Bitcoin cash?" well! I talked to him briefly, sharing my own opinion which was based on the idea of entrepreneurship and funding entrepreneurial related startups within Africa and beyond. Following the conversation I had with the friend, I thought it would be wise if I shared my idea in a piece of article.
Entrepreneurship, at large has contributed to the world's economy tremendously and can not be neglected when discussing economical advancement. Entrepreneurship as it is defined is the creation or extraction of value which links to sole ownership of a business. Funny enough the Bitcoin cash blockchain technology promotes decentralization which is similar with self ownership.
I choose to talk about Africa because unlike America, Asia, Europe, Africa is developing and the news all day cries of lack of employment opportunities in its regions. Interestingly Africans are not lazy, the effects of unemployment has created positive impacts on most African citizens therefore leading them to the creation of small scale businesses which might face limitations due to insufficient capital. Despite the fact of insufficient capital, most of them groom their businesses to a full scale business.
Why Entrepreneurship and Why Africa?
Reading this, you may be wondering why I choose Africa. The reason is that looking within, the continent is well blessed with Natural resources and human resources. In Nigeria specifically, the economy is facing a difficult time, unemployment is sinking yet young entrepreneurs are sprouting in hundreds everyday in order to create a means of survival and possibly become the Boss of their dreams.
According to the African Development Bank, 22 percent of Africa's working-age population are starting businesses (Entrepreneurship). This is the highest entrepreneurship rate in the world according to the journal.
Africa's female entrepreneurship rate is also the highest in the world; 27 percent of the female adult population is engaged in early-stage entrepreneurial activity. This means African women are twice as likely to start a business as women elsewhere in the world. This has seen small and medium scale businesses as the largest formal employers within the Sub-Saharan region of Africa and will undoubtedly be key in creating the 54 million jobs that Africa is expected to create by 2022.
The urge to create wealth is found high within the African region and with that, it can be easier to train and empower this willing force not neglecting the fact that great and successful investors today are actually entrepreneurs, for example, Elon Musk.
How Can This Effect The Growth of Bitcoin Cash
Empowering entrepreneurial startups may require a well strategized manner of approach in order to produce a positive outcome. If successfully achieved, it will grant a pass to easy onboarding of this skilled forces which will not only be users but also investors in the ecosystem. For instance those who were empowered to learn a coding skill will get into building more apps, those who were empowered to own a on land business can become merchants with no excuse to promote and use Bitcoin cash. That will increase the number of potential investors and users to the community.
This could be easily achieved by placing the tasks to the Bitcoin Cash community leaders within different countries, with proper supervision. Scholarships could be awarded to learn Vocational skills because without doubts that is where the real daily use cases lye.
Conclusion
This is solely an opinion which I shared with a friend on twitter during my conversation with him. It might possibly be found useful to those who are financially fit and willing to invest to the Growth of Bitcoin Cash. This opinion may not be practicalized in Africa alone but anywhere in the world.
