In 2009 when the first cryptocurrency the bitcoin came into establishment little did most people know that by 2018 we would have such so much love for cryptocurrencies as a whole.
Many governments being hesitant to legalize,it was such a bold move to put all these much hopes in cryptocurrencies.
Fast forward to now since just about 9 years ago alot of coins have helped many people in many countries, the blockchain has answered some of the questions we had failed to answer since back then.
I love crypto and am seeing alot that it can offer.
Shall we talk about inflation?
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In some countries people can pack a full bag of money notes just to go and buy bread for breakfast.
Suprised?
Alright, of course it's not that so extreme but am trying to drive this point home.
Money has lost value significantly in some african countries.
Here in Uganda it has always become worse ever since.
In Zimbabwe it's something the world has talked about for all these years.
You see some countries have had such a poor or corrupt financial systems.
When money becomes worthless and people are still working for just about the same amount which leads to even more poverty.
Turns out some people in Zimbabwe have adopted to have their savings in bitcoin because bitcoin has been by far very secure than their own currency.
Few a people in Zimbabwe are trusting their nation’s paper money because Zimbabwe suffered a serious rate of inflation of about 500 billion percent in 2009.
Is this how you would like to pay for your son's school fees?
Such things, you know?
This has led to people to trusting cryptocurrencies more and more in africa.
Top notch security and money transcation services
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I remember back then before we got mobile money services here in Uganda, it was the hardest time to deal with money. Only rich people could access banks, it always seemed a technical process to even open up a bank account. Many people from villages kept their savings in pots under their beds which was something not good security wise.
Now with cryptocurrencies it's much easier to make such transactions all over the world.
Without constant charges off your transacted amount i trust this new system. Now check steemit where you can send someone your steem without any charges.
The corrupt financial systems in most countries in africa have always taken advantage of the old system which has further more increased the poverty in most african countries
A young man who used to pay for rent and buy food out of his 70000uganda shillings monthly salary nolonger is he able to afford food from that salary and with more responsibilities from his family.
He faces more poverty each day of his life.
The financial system gets even more rude to him.
That's how most people have lived here in africa.
The newness of blockchain in africa is empowering the new informed mellennials
Am sure most of the recruitments of africa on steemit have learnt about cryptocurrencies on steemit. This is so true beacuse they have always confessed themselves.
Empowering the new generation to push blockchain to another level. Innovations and new ideas coming up via blockchain technology. Steemit is one of the new blockchain innovations that has pushed it to even another level. Should we see even more cryptocurrency users incoporating new innovations into the blockchain technology as well. Because it's going to happen even sooner.
Employment and earning a basic income via blockchain.
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Like Bitpayer is looking for agents, bitpesa too is looking forward to creativity and new additions to it's system.
Blogging on steemit to mine steem.
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Creating a school to teach people about cryptocurrencies.
I mean blockchain has alot of benefits the fact that it's in it's infancy stages.
Alot more is to be expected from as little as changing the financial systems to complex things that we shall see programmers and creative minds build on day by day.
So with all that said.
Would you give way for blockchain in africa?
I guess it's time to make a big leap into this new technology.
I have heard some african presidents being postive about blockchain technology. The recent news from kenya gave me even more motivation.
Nigerians and southafrica have started this long time ago.
Blockchain exchange systems have become common and even more advanced in these active countries.
Like i said above, most have learnt about cryptocurrencies from when they joined steemit.
I have realized promoting steemit is one best way of increasing the usage of cryptocurrencies in africa.
So let's give blockchain technology a chance to shape a better financial future for us.
