Home africa How The Acceptance of Cryptocurrency Can Change The African Economy

How The Acceptance of Cryptocurrency Can Change The African Economy


We often hear the saying that most Africans countries have bad economy or sometimes it goes like this, the economy of that country is bad. Well, simply put an economy refers to the wealth and natural resources a country has and how they producing these wealth/resources for daily consumption.

Most African countries have natural resources, Nigeria is blessed with the petroleum while South Africa is blessed with gold amidst others. Countries like Kenya have tourism to boost their economy. But cryptocurrency might just be a game changer for all African countries.

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With the acceptance of cryptocurrencies, all countries can now have boost of their economy irrespective of whatever natural resources they may posses. If African countries should decide to embrace cryptocurrency and encourage their citizens to do same, more people will invest and be making money without having to depend solely on government for survival.

A good economy is where the average person can eat at the least two meals a day, have an apartment to live and other basic necessities. If African countries embrace cryptocurrency, most of its citizens will have to either mine these coins or trade these coins and with the current trend in cryptocurrency, they will make profits that will enable them not depend on the government.

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Take Bitcoin as an example, bitcoin is now worth close to $6,000. If Zambia for example encourages her citizens to invest in BTC, by 2018 when bitcoin finally hits the $8,000 mark most of its citizens would have created wealth for themselves.

So to boost the economy of the African countries, it’s a good idea that they accept the leading blockchain technology and make use of these cryptocurrencies to boost their economy. 


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