6 ms·

Then how come that 57% of Africa's population lacking any form of bank account.

• louwrentius 5y ago
  Because of non-technical reasons: like economical and political reasons. Cryptocoins won't solve those issues, nor can they bypass them.
• zinekeller 5y ago
  ... mainly things that aren't even fixable by cryptocurrency? - Wars. Most people in warzones don't want to hold a bank account because it is very unreliable. Cryptocurrency won't solve that problem, in fact it will exacerbate the problem because of your phone or computer is damaged it's game over[1]. Also, how do you even transact when you don't have any form of communication? - Actually don't have anything to bank on. Their money is just enough to survive, so they can't even bank, regardless of its form. Giving cryptocurrency is often a proposed solution, while forgetting that regular currency works fine too in these situations. - Cultural differences. Most, to be honest, don't want to depart their money to someone they don't know. They were introduced to money just a generation or two ago, so they are relatively new here. Good luck convincing that cryptocurrency is trustworthy in a way that can be easily understand. [1] I mean you could write them on paper, but that's really stretching it, mainly because you need a computer to execute transactions.