In recent years, cryptocurrencies, and especially bitcoin, are everywhere. While some countries have already adopted these digital assets, others have declared their intention to do so and are implementing various activities to achieve this. African countries are also in the middle of the race to adopt cryptocurrencies. But will the solutions used on the African continent bear fruit? Yes, but not all! let’s see why !
What Africans are looking for
Various solutions are implemented on the African continent to ensure that cryptocurrencies enter each other’s habits with good reputation, and some will fail. Why? As unfortunately, some solutions are not suitable for the continental context. In fact, Africans are looking for solutions that can solve their problems in real time.
In order for Africans to adopt crypto, a number of parameters had to be taken into account. Among other things, it is necessary that the the payment methods are less complicated. Also, these methods should be less technological and more accessible. Financial inclusion can only be achieved under these very specific conditions.
Solutions adapted to the continent
Among the series of solutions that already exist on the continent, some have managed to adapt to the realities. Take the case of Machankura. The team that set it up ensured that this payment solution was focused on bitcoin (BTC) takes into account the telecommunications infrastructure which already exists in Africa.
Since a large proportion of Africans use mobile phones, in order to promote financial inclusion, it is essential to put in place solutions that involve these communication tools. This is how African developers understood Bitcoin (BTC). They realized that USSD technology works effectively on landline phones and smartphones. And that’s how they started Machankura.
As of this writing, Machankura appears to be performing well. Furthermore, on its website, we learn that it covers at least 6 African countries: Ghana, Kenya, Malawi, Nigeria, South Africa and Uganda. This shows how well this solution is integrated with the continent.
In Africa, financial inclusion with bitcoin and other cryptocurrencies will only work on one condition: the use of existing infrastructure. Otherwise, all the solutions implemented may fail.
Source: Bitcoin Magazine
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