Jack Dorsey, the great man at Twitter and outspoken bitcoin maximist, predicts that Africa will determine the future of the crypto industry. He acknowledges that he is impressed by the accelerated development and acceptance of bitcoin in Europe. Still the ball is in Africa.
The future of bitcoin lies in Africa
He was on a trip through Africa and visited Nigeria and Ghana, among others. He also attended a bitcoin & blockchain meetup in Ethiopia. Via Twitter, he says that Africa determines the future of bitcoin. He also wants to travel the entire continent in 2020.
Sad to be leaving the continent … for now. Africa will define the future (especially the bitcoin one!). Not sure where yet, but I’ll be living here for 3-6 months mid 2020. Grateful I was able to experience a small part. ? pic.twitter.com/9VqgbhCXWd
– jack ??? (@jack) November 27, 2019
Dorsey is one of the most outspoken advocates of the world’s largest cryptocurrency. He calls on followers to invest in bitcoin, and claims that he buys bitcoin for $ 10,000 a week. This is in stark contrast to other tech billionaires who prefer to stay far away from bitcoin, except for Elon Musk.
Through his tour, he was inspired by the potential of Africa. He therefore sincerely believes that this continent can become the next milestone of bitcoin. He also plans to live in Africa for six months next year. The CEO of Twitter thinks that cryptos are only widely accepted if there are also normal usage scenarios.
Whether his next trip through Africa is bitcoin related, we do not know, but it is telling that he visited a bitcoin meetup.
Bitcoin and blockchain meetup #Ethiopia! pic.twitter.com/MDalQKnp1F
– jack ??? (@jack) November 27, 2019
Creative ways to buy bitcoin
It is easy to understand that Africa can play a major role in the adoption of bitcoin. There are enough situations to think about why bitcoin can contribute to poverty reduction. But blockchain can also help with major corruption issues.
Now you can already see many Nigerian immigrants in America mainly use bitcoins to send money to family and friends. And they are very creative to avoid KYC. For example, read this story about peer-to-peer trading platform Paxful. The Nigerians buy gift cards from Apple, Google or other parties at gas stations in America. Take a picture of the code behind the scratch layer and send it to Nigeria. There the code is entered on Paxful to buy bitcoin with.
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