Lots of insightful discussions on Bitcoin and stablecoins at Blockchain Africa Conference by BlockchainZA last week. FrederickMunawa reports.
“In 2 years time, 1 in 6 global Internet users will be African,” Caddell explained. “1 in 3 youths globally – those between the ages of 15 and 35 – will be African by 2050.”
Crypto mass adoption wouldn’t be the first time Africa experienced a digital payments revolution. In 2007, a couple of Kenyan mobile network providers created M-Pesa, a service that provides payments, credit and savings with no bank account or Internet connection – just a basic old school feature phone.of adults in sub-Saharan Africa now have a mobile money account.
“You’ve got a lot of nuances in the African financial stack,” Caddell explained. “Not just between the West and Africa, but also between African markets. In Nigeria, people use bank transfers a lot. In Kenya, M-Pesa is king and dominates. In Ghana, it’s MTN’s Momo, which is MTN’s mobile money.”
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