Africa Leads the Charge for Bitcoin Adoption
Here's why Bitcoin builders should look for the African market to launch their products.
Why do I care about a digital currency that is less stable than my country’s money? Why use a decentralized exchange if I can transfer my crypto via Coinbase to whoever and whenever? Why would I take a loan from a decentralized finance protocol if my bank does the same for me but with less risk? These are valid questions, if you live in a first world country that is. However, in less developed areas of the world, Bitcoin can be a solution for economical problems and corruption. Bitcoin builders should take into account that the real user already exists. This week, we will look into the Bitcoin builders use case for Africa, and exciting news around the Bitcoin builders community.
Bitcoin Thrives in Africa
“In many developing countries, hyperinflationary pressure and corruption have left citizens with few options. Cryptocurrencies offer a lifeline to these individuals” - Kevin Imani, founder of Sankore 2.0
“Crypto solves real-world problems with banking and currencies on the continent, and it isn’t the casino that it can feel like sometimes in the West.” - Chris Maurice, founder of Yellow Card
“Our money belongs to France, the CFA is made in France and is — for want of a better word, colonial money. Bitcoin, however, Bitcoin belongs to everyone.” - Mama Bitcoin, the first retailer to accept cryptocurrency in Senegal
“Bitcoin presented a glimmer of hope for altering the economic landscape in the global south, particularly Africa. Less reliable financial infrastructure and higher rates of inflation than western nations are among the factors that make Africa a hotbed for bitcoin use.” - Noelyne Sumba, Forbes interview
Bitcoin builders accelerator Bitcoin Startup Lab announces the start of their new accelerator cohort.
Bitcoin Ordinal Marketplace Gamma announces 30 days of free trading on Gamma.
Lightning Labs releases tools to build Lightning and Bitcoin powered AI products for a global audience.
Cointelegraph reports Bitcoin Ordinals volume hitting $210 Million in Q2 2023.
Lightning Network markets hits an all-time high of $50 million in June
Namibia passes bill to regulate crypto and digital assets.
Bitcoin Builders Association partners with Stacks Foundation to announce Layer 2 pitch competition.
Wallby launches crypto wallet for Bitcoin, Liquid Network, Rootstock and soon Lightning Network.
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