Wednesday
June 5
2019

Viewpoint: Bitcoin in Africa – What Needs to Be Done to Encourage Adoption?

By Steven Weru

These and many more such statements exist across the internet. All these statements are true. But, despite all the benefits that Bitcoin is expected to bring to African countries, adoption levels in Africa continue to be the lowest globally.

Which begs the question, “If Bitcoin is to help Africa catch up with the rest of the world, what is preventing Africans from adopting the cryptocurrency?”

Why Is Africa Lagging in Bitcoin Adoption?

Africans are interested in bitcoin and other cryptocurrencies. Nigerians account for the highest number of searches for the keyword “Bitcoin.” However, this peak in interest does not appear to be translating to increased adoption rates.

Photo courtesy of Pixabay.

Source: Bitcoin Magazine (link opens in a new window)

Categories
Finance
Tags
bitcoin, emerging markets, financial inclusion, financial innovation, financial services