thinkDecade and Abidemi bring you an interesting episode today "The Great Promise: Crypto & Africa". In this episode, we delve into the vast landscapes of Africa to explore a revolution that's unfolding—one powered by the disruptive technology of cryptocurrency. We uncover how this emerging force defies borders, challenges conventions, and carries the great promise of rewriting Africa's narrative within it. The transformative power of cryptocurrency is poised to transcend barriers, reshape economies, and unlock the continent's boundless potential.
We take a step back in time to understand the historical context of financial exclusion in Africa and the role of the fiat system in perpetuating economic disparity. We explore the challenges presented by fiat money, such as inflation, devaluation, and manipulation, and discuss how they've impeded the continent's progress.
Next, we delve into the promise of crypto for Africa, touching upon three key themes. First, we discuss the idea of "Fix the Money, Fix Africa", elaborating on Bitcoin's transformative power as hard, sound money, and how it offers a solution to the negative impacts of inflation and manipulation of fiat money. Second, we examine "An Internet of Boundless Value", introducing the concept and potential of Web3 and Ethereum. We look at the development of decentralized applications (dApps) and their real-world implications for Africa.
However, it's not all smooth sailing. We highlight the challenges posed by scalability issues and high transaction fees, the contradiction between the promise of crypto, and the reality of high transaction costs.
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The Bankless Africa show highlights projects, ecosystems, and people making impacts and driving crypto adoption across Africa. Get informed on all things Bitcoin, Defi, NFTs, web3, and everything in between.
Disclaimer
None of what is shared in this show is financial or tax advice. This channel is strictly educational and is not investment advice or solicitation to buy or sell any asset or to make any financial decision. Remember always to do your own research!
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