In South Africa, 10.7% of adults own a cryptocurrency, and Nigeria and Ghana hold 7.8% and 7.3% of adults, respectively. Cryptocurrencies are setting off a wave in the third world and have become many young people. One of the better options. Africa is becoming fertile ground for the development of cryptocurrencies. Some governments provide good conditions for the development of cryptocurrencies. Many companies are committed to truly using cryptocurrencies in real life and solving the fundamental problems of African traditional financial systems and existing monetary systems. An important part of Africa's future.
The African people are slowly losing confidence in their central bank. Last year the South African Rand became the world's most unstable currency and the Zimbabwean currency, which has been seriously devalued due to inflation, has become one of the fiat currencies that have failed due to factors such as political and economic weakness. One. Cryptocurrencies with superior performance in cross-border payments, convenient transactions, low fees, and no need to open a bank account have become the most popular choices in the local area.
BCH Ignite: Promote BCH in developing countries
George Donnelly is a BCH enthusiast and promoter from Colombia. He recently shared a proposal in the community to promote BCH in developing countries. He hopes that more people in third countries can use it. Go to BCH and enjoy the convenience that the advanced financial system brings to people's daily lives.
He believes that unlike developed countries, the poorer regions are more likely to use the cryptocurrency market. Their funds are scattered. In areas such as Latin America, sub-Saharan Africa, and South Asia, where transportation networks are underdeveloped, local Most people do not have bank accounts, and they are not within the government banking system. People need peer-to-peer electronic cash that does not need to be reviewed or even tracked. When these people start looking for cheaper ways to pay and secure their wealth, they will find that other e-wallet transactions can not ignore the handling fee like BCH. Compared with BTC, the unit price is lower, the payment is faster, and the handling fee is more The cost-effective BCH is even better, and BCH has a blue ocean in these places.
He listed a simple guided tutorial:
· aroused their attention to BCH
· taught them about BCH
· guided them to start using BCH
Support their process from novice to community
With BCH users, the role that must also be-businessmen. If the money in your hand cannot be spent, it is not real money. After two years of market research in 8 countries in Latin America, George Donnelly found that if a cryptocurrency does not have good liquidity, merchants will refuse to accept it. Without a continuous increase in customer traffic, merchants who originally accepted cryptocurrency payments will be discouraged and stop accepting. When the George Donnelly team contacted merchants who had accepted BTC and BCH in early 2019, they found that only one of the 40 merchants kept accepting. Therefore, paying attention to the adoption of merchants is also a very important step in the entire promotion process. Establish a better network between users and merchants, ensure the merchants' work is sustainable, and provide them with a system that can protect and enhance their work. Maybe Will attract and retain more merchants who accept BCH.
Demand is the desire that many companies can use various means to stimulate in a market economy, and promoters do not even need to create demand for remittances. Cross-border remittances for migrants in 2018 were $ 689 billion, most of which came from developing countries. Promoters need to think about the larger market and situation, establish BCH remittances, and encourage remittance recipients not to cash all their BCH or spend BCH directly.
There are already many classic cases of BCH in Africa in the community. For example, the non-profit organization Eat BCH uses BCH to buy food for poor children and the BCH fund set up by environmentalist Lelu to help wildlife. More people benefit from this. It is a wish of BCH developers and promoters. Whether it is a global payment system or a peer-to-peer electronic cash, or a free market without borders, BCH is making great strides.