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Bitcoin Is The Only Way Forward For Africa
Its adoption across board is the much needed panacea
The timing of this article is admittedly a bit off.
Bitcoin’s numbers have taken a massive hit and the knives are out for the world’s preeminent cryptocurrency.
There isn’t a news outlet that hasn’t an opinion on Bitcoin; we are told that it is ponzi scheme, akin to the one which led to the disintegration of the global economy in 2008–9.
But in the midst of the hysteria, millions of folks in the west are missing out on what this once in a lifetime phenomenon is about.
But the same cannot be said for millions of people in Africa.
Africa, by far has the youngest demographic in the world and countries like Nigeria are projected to undergo a massive population explosion in the next ten years.
And far more than most people around the globe, young Nigerians readily recognize the greatest advantage of Bitcoin — the fact that it is the only depoliticized monetary system around.
Unlike the Naira ( the Nigerian Currency), whose fortunes can be (always is) controlled by its profoundly corrupt and self seeking politicians, no one individual can make the decision to mint bitcoins to act out a political agenda.