For or against cryptocurrency?
Cryptocurrencies do not please everyone. Indeed, Ghana is currently working on a digital version of its currency. The latter thus becomes the African first nation to follow this trend. It would counter the expansion of cryptocurrencies well known such as bitcoin or ether. Banks consider these new means of payment insecure, inclined to strong speculation and therefore deemed unreliable. This promotes the expansion of Fintec, in other words payment via mobile.
Some now swear by these virtual currencies. There would be more than 7000. The singer Akon even has his own cryptocurrency, the Akoin. Senegalese artist Mansour Ciss Kanakassy launched in 2018 the idea of an African cryptocurrency: Afro. This Pan -African virtual currency wants to be at the service of development in Africa. It could allow different African countries to facilitate their exchanges, because in Africa there are more than 40 different real currencies. The rise of this cryptocurrency could also allow the African diaspora to lose less money during financial transactions.
The birth of cryptocurrency
Cardano Foundation blockchain technology to conquer the African continent. To stay simple, blockchain is a technology for storing and transmitting information without control organ. This is the main operating medium for cryptocurrencies. The foundation has notably developed in Ethiopia where 5 million students now benefit from it.
Storage of students' data, their grades, and diplomas are facilitated and secured by this new technology.
"We believe that blockchain offers a key opportunity to end digital exclusion and expand access to higher education and employment," said the Minister of Education in Ethiopia.
An association between the Cardano and Save the Children has also emerged. It was to allow, thanks to the development of this famous blockchain in Africa, to be able to make donations in cryptocurrency to help educational projects or even child protection.
Communities attracted by cryptocurrency and the universe of blockchain are constantly born. Large -scale projects like Ethiopia are emerging. The development and therefore the future of Africa could go through the development of these virtual or digital currencies. It is still necessary to inquire as much as possible before launching the exciting world of speculation on these new currencies which are constantly evolving!
