Many people in Africa face challenges such as high inflation, limited access to traditional financial services, and weak consumer protections.
It is possible for Africa to survive with Bitcoin, as it is a secure and decentralized digital currency that can be used for financial transactions and as a store of value.
There are several potential benefits to using Bitcoin in Africa. For example, Bitcoin could potentially help reduce the dependence on traditional financial institutions, which may be less accessible or reliable in some parts of Africa. Bitcoin could also help to reduce the cost and complexity of financial transactions, as it can be transferred digitally without the need for intermediaries such as banks. Also, it could help people in Africa participate in the global economy in a way that was previously not possible.
However, there are also challenges to the widespread adoption of Bitcoin in Africa. For example, Bitcoin requires access to the internet and electronic devices in order to be used, which may be a barrier for some people in Africa who do not have access to these technologies.
Despite the barriers and challenges with internet access in Africa, people without internet-connected devices can send and receive bitcoin via the Bitcoin service Machankura. Similar to how Mobile Money digital payments are performed, this is done through USSD, which operates on any phone with a GSM connection through a live prompt and response session.
However, it is important to note that Bitcoin has proven itself over the past decade as a secure and decentralized technology, and it is clear how it will be adopted and used in Africa.