BLOCKCHAIN
New Technology Invites a Millennial African Revolution

2018-01-13 01:03:07
by Dominic Brown
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Short Description / Article Intro

Cryptocurrencies are increasingly being seen as a means of release from oppressive regimes. In Africa, the image of liberation through violence and bloodshed is rapidly being replaced with a new version. An Africanrevolution powered by Bitcoin is viewed as the ultimate leveller, an all-inclusive, non-discriminatory tool that can free the African millennial from economic repression in countries like Zimbabwe, where it is used as astore of value.

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Traditional financial markets and investment strategies are often viewed as the province of the elite, but today every person with a smart phone can tap into and profit from the growing cryptocurrency ecosystem.

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BBC interview with Peace Akware from Uganda shows a female graduate in her thirties from Kampala who doesn\'t fit the traditional investment profile, but is definitely in favour of Bitcoin. Employment in Uganda is uncertain, even for graduates, and with an impoverished economy and sanctions it is very difficult to make ends meet. Bitcoin offers an easily accessible solution that is quick and manageable, and to this end one Kampala trader, Martin Serugga, is offering classes to educate people in its use.

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Businesses are also looking into Blockchain technology as a faster, cheaper and less complex means of building a better product. A technology platform called Bitpesa, for example, uses it to transfer money across borders as Bitcoin, to sidestep the flawed and dysfunctional Kenyan banking system.

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