{"id":2090,"date":"2018-03-26T17:31:24","date_gmt":"2018-03-26T17:31:24","guid":{"rendered":"https:\/\/atozcrypto.org\/?p=2090"},"modified":"2018-03-26T17:31:24","modified_gmt":"2018-03-26T17:31:24","slug":"adopting-the-blockchain-in-africa","status":"publish","type":"post","link":"https:\/\/atozcrypto.org\/adopting-the-blockchain-in-africa\/","title":{"rendered":"ADOPTING THE BLOCKCHAIN IN AFRICA"},"content":{"rendered":"

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According to a research conducted in 2016, 67% of the African population is interested in blockchain technologies from a start up point of view. This interest is inspired by the change in the ways cryptocurrencies can be used and thus to enable Africa to have an increasingly open trade. Cross-border transfers will be made easier, as cryptocurrencies offer users little to no fees. Having in mind that the banking system is underdeveloped compared to, for example, Europe, these developments can shift the way payments are made in Africa. Despite M-PESA (mobile payment system launched in Kenya in 2007), over 70% of the transactions continue to be done in cash, which is the cause of very high transfer fees.<\/p>\n

In the past few years countries in Africa have started to demonstrate a progressively higher economic growth, compared to other developing countries. The fastest growing economies on the continent are the Ivory Coast, Tanzania and Senegal, where GDP is continuously increasing. The population becomes more technologically orientated and its enthusiasm for education is growing. Telecommunications, retailing and banking are flourishing. Private investment inflows are surging and construction has reached an unseen before level.<\/p>\n