Maybe Yes! Maybe No! Africa has leaders that can change the game in half a sec. It's already banned in multiple countries and nobody is working to reverse those bans.
Discussion
Also by 2021, 45 percent of the population in Sub-Saharan Africa did not have a bank account. Why would we jump directly to BTC? Bold statement my friend.
Bitcoin doesn’t care about leaders or bans it just works.
You really don't understand how Africa works guys. You're really privileged to keep repeating these Slogans . But ok whatever u say guys. No wonder why all the American Tech companies fail to expand in Africa. You really don't get us and don't even try.
Educate me then instead of just saying I’m wrong.
1- Africans live in fear. If the government says don't touch. They won't touch it or at least the majority. It doesn't matter if BTC works or not really.
2- Africans LOVE cash. We have this mentality. if we don't touch it, it's not real money. We all stack cash and gold in Africa (in our homes).
3- Many don't even understand / trust the banking system , so imagine BTC and Blockchain tech.
In reality only the minority of the minority will use BTC. That's the truth!
Fair points. Is this consistent over all of Africa given the many countries and geographical differences as it is a vast continent?
I’m not sure how it plays out in Africa but bitcoin is open and permissionless in nature the small minority of a minority could expand quite rapidly over a few decades no?
The beauty about Africa is that we are all the same. Different skin colors sure but the mentality is similar all around.
Before banking the Unbanked, you need to Educate the Uneducated. Don't forget that a big chunk of Africa is illiterate too. So in order for this to work there needs to be a HUGE UNITED movement led by Africans designed to educate the masses.
Africans have trust issues. BTC is scary to most because most are not tech savvy either. They are scared to get hacked and lose it, which makes banks more appealing.
In my country BTC is banned 100%. But I know for a fact that ALL the elite people and their kids have it. So it's basically banned for the average Joe. To get BTC is hard. To use it inside the country? IMPOSSIBLE!
Could it expand over a few decades? Good question! Possible! IF there is a real movement NOW. Stronger than what's happening. I know #[3] ha appointed some kids to do some things down there but it's not enough. You need a really good strategy and a strong team lead by Africans. That's what I think.