Every act of accepting Bitcoin or cryptocurrency for payment adds to the move towards adoption. Majority of the use cases for cryptocurrency have been dominated by investment purposes, HODL for better return on investment(ROI). The use of cryptocurrency for payment is low at present.
We need a significant rise in the number of accepting cryptocurrency payments for goods and services as we aim for adoption.
The volatility side of Bitcoin still remains a challenge for payment acceptance. With Bitcoin being the most widely known, it stands the chance to be the most accepted. However, to curb the volatility, one either HODL or have it converted to stablecoin. When looking at using cryptocurrency for payments we get to see why stablecoin plays a vital role in the process.
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The Surfer Kids is an NGO in Mossel Bay, South Africa whose coach Luthando accepts Bitcoin in salary. Seeing the benefits of Bitcoin Luthando introduced Bitcoin payment to spaza shops in the community called Bitcoin Ekasi it feels great seeing the locals accepting Bitcoin especially from grassroots where that isn't expected. It shows the power of Bitcoin's penetration into every part of the world.
There is now an impact of Bitcoin in Mossel Bay, the interest of Bitcoin is only going to grow from there on.
Following my curiosity for Bitcoin Ekasi I was able to see kids in their teenage years buying bread and paying with Bitcoin on their mobile phones. These are the future generation of Blockchain technology and cryptocurrency. Perhaps some of them might develop the interest there on and end up building blockchain Apps. This is a lot possible these days with education accessible on the internet and not having to deal with financial difficulties for college or varsity.
Africa have an opportunity at its disposal, the continent have been rendered poor for decades as results of embezzlement, corruption and mismanagement by it's leaders. Bitcoin, cryptocurrency with the underlying technology blockchain offers the chance to work outside the norm system. There's so much hope and potentials from crypto, we just need to put it to use for outcome.
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