Bitcoin Will Solve Africa's Two Biggest Problems — Africa Bitcoin Corporation
Bitcoin can solve two of Africa's main problems – the devaluation of national currencies and inflation, said the head of Africa Bitcoin Corporation (ABC) Stafford Maisie.
According to Maisie, Bitcoin holders in Europe, America and the Middle East mostly view it as an alternative investment asset, nothing more. At the same time, Bitcoin is extremely valuable as a means of exchange and store of value in developing countries.
“In Africa, when financial services don't work, people die. That's the reality we live in. So we look at bitcoin from the perspective of a real human need, which is a means of saving lives,” Mazie said.
Political uncertainty, fraud and corruption are problems that people and businesses in Africa face on a daily basis. Rising prices for basic goods such as food, water and electricity are a sign of monetary dysfunction.
Using Bitcoin will help African companies raise capital and grow their businesses. It can revitalize the local financial market and offer an alternative to unstable local currencies. It is in this environment that Bitcoin becomes not a speculative instrument, but a vital economic resource, insists Maisie.
Nigerian Economic and Financial Crimes Commission (EFCC) Chairman Ola Olukoyede called cryptocurrencies the new oil that allows making huge amounts of money. The Nigerian official spoke in favor of strict regulation of digital assets.
Source: cryptonews.net
