Africa will be setting itself back by being hostile to crypto
In an era where we experiencing change and most especially disruptive change blockchain and cryptocurrency is having on the world, it is likely the nations that are open and friendly to crypto will have some edge over other nations/continents when the inevitable cypto adoption kicks in.
According to Chainalysis' 2020 Global Crypto Adoption Index, Nigeria places 8th among 154 countries for its significant on-chain cryptocurrency activity.
Source
This is a rather impressive move in crypto adoption from Nigeria, South Africa, Ghana, Kenya are not doing bad either.
Though Nigeria has moved into regulating crypto more of which can be read here; Nigeria Regulates Crypto After Bowing to Bitcoin Adoption
With more countries moving into crypto adoption in Africa and the smart city project in Senegal being pioneered Akon Africa will be placing itself in a prime position to benefit from crypto and blockchain technology but I know the kind of leaders we have, if it is not for selfish benefit they will regulate and possibly give it a ban thereby shooting themselves in the leg.
May the crypto adoption continue to spread in Africa.
We owe it to ourselves to make Hive great
Image by @doze
https://twitter.com/digital_mine_/status/1305931514115436553
Great article bro, you can bet that most central banks in African countries will move to regulate and control crypto currency as much as they can. I don't know what will happen once these cryptos get popular and more people get to understand the freedom and flexibility they offer. One thing is for sure though, bitcoin is king and is here to stay, no one can shut it down :}
Judging by the early stages of Bitcoin/crypto and the rate of adoption in Africa, it is only going to increase over time. I am expecting opposition from governments and the central banks like you mentioned, how effective can they regulate or look at putting a ban remains to be seen which I think it will be waste of time and energy anyway.
They still don't get it!
Hive is another one that can't be stopped too :}
Lol true bro ☺
I have to properly understand what securities are before I can tell if this is a good news or not. Plus what rubbish are they saying about registering with SEC? The thing is sooo not clear
No doubt there was no clear understanding when I read the news also, more reason why I broaden my writing to Africa.
Wetin dey clear for 9ja matter?
Adoption is slow however being tested, what is aggravating is lack of feed back to projects already raised.
Bitcoin ATM's in South Africa would be interesting to have feedback as to popular use.
Pick n Pay/Bitcoin Trial Run did they continue or was this only temporary?
Err to the side of caution, like anywhere in the world greed takes hold with new scams. Bitcoin Revolution South Africa. These trading companies one must be extremely cautious of I was caught with the USI-Tech scam, still believe in Bitcoin, very wary of what is happening on the ground.
I am yet to go use the BATM in Sandton which is the closest to me, I guess people will want to remain anonymous to wanting to give feed back due to fear of government coming after them and other reasons.
Greed will continue to be major problem with humanity, I see lots of people going on about Bitcoin Vault here in Joburg, not sure how legit it is but I'd rather stay away fro the so called Bitcoin mining investment that have burnt me several times.
I have yet to see an ATM, always keeping an eye open on development in our region.
Agree to rather work quietly waiting, hoping this will reveal some form of more equal financial footing for all.
Well, here's another source to check for more details info about this, check it out now! Bitcoin Revolution South Africa
Thanks, always reading and researching @politejay although one bitten twice shy I do believe in you have the key, keep it safe and private.