Adoption Of Cryptos And Blockchain Tech Would Boost Development In Africa.

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Avatar for panterablack
1 year ago

Many countries in Africa are at the forefront when it comes to usage of cryptos and involvement with blockchain technology. Countries like South Africa, Nigeria, Ghana and Central African Republic have gained massive attention recently for the massive volumes of cryptos traded on a daily basis and the citizens looking towards the direction of cryptos and blockchain tech for income. Africa is a continent blessed with so many resources but many events have made the continent appear to be hunger, poverty and corruption stricken.

Corruption to me is currently Africa's biggest problem and it's really sad to know that resources that could have been used to better the lives of the citizens are exploited and used by the leaders to fund their own pleasure. I believe adopting blockchain tech could erase the issue of corruption in Africa when every action is being documented on the blockchain and key information like who spent what aren't far fetched. The lack of transparency in the government of most African countries has allowed corruption take over almost every aspect of the economy and I believe blockchain tech can put an end to that.

Cryptos as I know it has created more millionaires in Africa than many sectors in just a short while and it's quite evident how many young Africans are trooping into the crypto space seeking for opportunities to make a living and have a better life. Hive for example has created so many opportunities for Africans that are content creators, bloggers, gamers and artists. Several other platforms out there have created many opportunities for Africans and have given them some international recognition for their talents and skills that have been undervalued.

Amidst the not so good news from Africa regarding cryptos (the bans), Central Africa Republic became the first African Nation and the second country in the world to adopt Bitcoin as a legal tender for transactions in the country. Nigeria also ranks the country with the second highest crypto transactions in the world. This shows that adoption is a possibility but may take some time because many people in the government are beginning to understand that cryptos and blockchain tech are just gonna end up liberating the people, they would also give power to the people and boost development of the continent.

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Avatar for panterablack
1 year ago