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The article is about Afribit covering some their bitcoin programs.
“Bitcoin solves issues of financial sovereignty and financial inclusion,” Ronnie Mdawida, Director of the Afribit project, told me in an interview. “Some of the merchants in the community do not have any form of documentation and would not be able to participate in the traditional business ecosystem or build their lives without Bitcoin, which offers them an alternative.”
He explained that of the 50 participants who partake in a waste management program in the community through which they are reimbursed in sats (fractions of a bitcoin), the majority either don’t have or don’t use banking services.
“Many in these communities are forced to store cash at home, exposing them to risk of theft. While mobile money services like M-Pesa are widely used, their high transaction costs and vulnerability to practices such as fund reversals make them less favorable for business transactions,” she added.
A talk by Afribit given at Adopting Bitcoin:
Very cool. Giving the video a watch. Curious in areas of poverty accross Africa how are they approaching self custody? Many can't afford hardware wallets, are they conducting self-custody on a computer?
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If in genuine poverty you are unlikely to be stacking sats but rather earning them and very swiftly then spending them on the essentials of life. A good 'hot' wallet can be a lot more secure than fiat cash. Cold storage for those who want/need it is essentially free and does not require the highly hyped third party HW gadgets western Bitcoin stackers often to use. https://electrum.readthedocs.io/en/latest/coldstorage.html
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Good resource. I agree with you about hardware wallets being over-hyped.
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