Can Bitcoin liberate a country from strong-arming western economic power? Here is why African crypto experts and entrepreneurs don’t feel fond of the CFA franc.
, has influenced the view of the CFA governments with regard to digital currencies and CBDCs. However, an e-ECO or e-CFA has not yet been planned.
The Senegalese–South African team behind Shintsha — which will soon rebrand to Mole App — has created an innovative way of addressing the low banking levels in Africa. The exchange hopes to onboard more and more Africans into Bitcoin and crypto through mobile money, an Africa-centric solution.. It is incredibly popular in Subsaharan Africa, from Senegal to Somalia to Malawi. Orange money is one of the most popular outlets, although Free Mobile and Wave also exist.
He brings up the example of smartphones which are “penetrating Africa at a good pace,” to illustrate that Africa can pick up new technologies and run with them. As much as 46% of the Subsaharan population in Africa has a smartphone and, as evidenced, mobile money is booming.
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