Bitcoiners has advocated the need for Africa to adopt the use of the digital currency to seal deals and finalise business transactions.
According to one Prince Akpah, it has been noted that if Bitcoin has to grow, it calls for more adoption, which is going to happen on the continent. He said that that has been the position for a long time, stressing that communities that have erupted from the continent have been a testament.
Akpah who doubles as the programme manager, Africa Bitcoin Community, spoke at a press conference in Lagos to announce the second edition of its yearly conference held in Ghana from December 1 to 3.
He said: “If you look at the number of countries that we had at the conference last year, there were about 30. Most of them were Africans. If all these people in their various countries are using Bitcoin to transact businesses or financial transactions, it shows that the adoption rate that people have predicted globally is happening across the continent is much more than what is happening in the West or Europe.
“I believe that with how young people are creating products, developing new technologies and blockchain definitely, adoption is something that we cannot overlook, and it’s happening in real-time.”
Checks showed that in Africa, Nigeria is ranked first in the 2021 Global Crypto Adoption Index, followed by Togo. Nigeria tops the peer-to-peer (P2P) global rankings. Though there is a huge driving force behind the scenes for the Bitcoin market in Africa, however, there is little discussion on the tremendous opportunities Bitcoin offers and its future on the continent.
This has created the need for increased collaboration among the various contributors to the cryptocurrency industry to reinforce knowledge and resource sharing as well as deepen networking between African actors and those operating in developed nations.
Bitcoin has transformed how people interact with money and the global monetary system.
