In recent years, cryptocurrencies, and especially bitcoin, have been everywhere. While some countries have already adopted these digital assets, others have already declared their intention to do so and are implementing various actions to achieve this. African countries are also in the midst of the race to adopt cryptocurrencies. But will the solutions deployed on the African continent bear fruit? Yes, but not all! let’s see why !
What Africans are looking for
Various solutions are implemented on the African continent in order to ensure that cryptos enter each other’s habits for good, some are destined to fail. Why ? Because unfortunately, some solutions are not suitable to the continental context. In fact, Africans are looking for solutions that can solve their problems in real time.
For Africans to actually accept cryptos, several parameters would have to be taken into account. Among other things, it is essential that the payment methods are less complex. Also, these methods should be less technological and more easily accessible. Financial inclusion can only be achieved under these very specific conditions.
Solutions adapted to the continent
Among the set of solutions that already exist on the continent, some have managed to adapt to the realities. Take the case of Machankura. The team that set it up ensured that this bitcoin-focused payment solution (BTC) takes into account the telecommunications infrastructure that already exists in Africa.
Since a large proportion of Africans use mobile phones, in order to promote financial inclusion, it is essential to put in place solutions that involve these communication tools. This is what the African developers of Bitcoin (BTC) have understood. They realized that USSD technology works effectively on landline phones and smartphones. And that’s how they started Machankura.
As of this writing, Machankura appears to be functioning well. In addition, on its website, we learn that it covers at least 6 African countries: Ghana, Kenya, Malawi, Nigeria, South Africa and Uganda. This demonstrates how well this solution has integrated into the continent.
In Africa, financial inclusion with bitcoin and other cryptocurrencies will only work on one condition: the use of existing infrastructure. Otherwise, all the solutions that would be put in place could be destined to fail.
Source : bitcoin magazine
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