{"id":373709,"date":"2019-03-06T23:00:09","date_gmt":"2019-03-06T23:00:09","guid":{"rendered":"https:\/\/wncen.com\/?p=373709"},"modified":"2024-06-11T07:45:19","modified_gmt":"2024-06-11T07:45:19","slug":"unbanked-africa-bitcoin-adoption","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/unbanked-africa-bitcoin-adoption\/","title":{"rendered":"Is Largely Unbanked Africa Primed for Bitcoin Adoption?"},"content":{"rendered":"

For many of the unconverted in the so-called developed world, Bitcoin<\/a> is seen as something for speculators at best and criminals at worst. However, as the highly respected Bitcoin evangelist Andreas Antonopoulos argues, one of the most revolutionary adoption cases for Bitcoin won’t be in the United States, UK, or Australia.<\/p>\n

In these countries and other “first world” nations, adequate banking services are seen as a given and are largely taken for granted. Across much of Africa, by contrast, bank accounts are difficult to set up, inconvenient, and expensive.<\/p>\n

Is Bitcoin Tailor Made for Africa?<\/h2>\n

Huge parts of the African continent lack adequate banking facilities. A report in Elixirr<\/a> states that as much as 66% of the population living in Sub-Saharan Africa have no bank account. With a population over 2.16 billion in 2016, this is a lot of people who could be potentially served by Bitcoin.<\/p>\n

The opportunity for Bitcoin in Africa was highlighted by Twitter user @Cryptokoala_Aus earlier today. The infographic pictured below was first published in 2016 by Africa Key Partners<\/a>, however.<\/p>\n

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When you see it, what #Bitcoin<\/a> can do for the unbanked in Africa and how prime it is pic.twitter.com\/YEDRT5v27F<\/a><\/p>\n

— \u20bfITCOIN Koala\ud83c\udf4c\ud83c\udf5e\u26a1\ud83c\udde6\ud83c\uddfa (@Cryptokoala_Aus) March 6, 2019<\/a><\/p><\/blockquote>\n