by Marvin Dumont
Cryptocurrencies can benefit Africans. Lagos, Nigeria (population 21 million) in early 2019 ranked as the top African city for online searches of Bitcoin (BTC). Other tech hubs are big cities in Kenya, South Africa, Ethiopia, and Ghana.
The inflation rate in sub-Saharan region has ranged from 8–11% since 2017. Consumers lose that much in their purchasing power each year — which compounds into a fortune over a five-year period and longer.
Zimbabwe (75%), Sudan (44%), Liberia (23%), Sierra Leone (17%), and Angola (17%) have hyper-inflationary economies. Many producers simply stop manufacturing goods (including essential items) because they won’t get paid in a currency that has economic value.
Therefore, these and other African countries get stuck in a vicious cycle of poverty, exploitation, and non-development.
Apollo all-in-one privacy currency (APL) gives adopters the advantage of a crypto that lets them stay anonymous — that’s powered by blockchain, and which operates on unregulatable platform.
African freelancers who provide outsourced services (e.g. writing, research, programming, web development, etc.) can get paid online via cryptocurrencies without coercion or hassle from a middleman.
A few things need to happen.
They’ve got to be educated about how the innovation works (such as wallets and passphrases). Be courageous in adopting tech that can make them prosper, especially retailers.
Africans have an opportunity to embrace cryptocurrencies and reap its rewards.
Apollo (APL) all-in-one privacy currency combines features of mainstream cryptocurrencies in an unregulatable platform. With two-second block speed, APL is one of the fastest cryptos on Earth. “Apollonauts” use features such as Encrypted Messaging, Smart Contracts, Decentralized Exchange, Dapps, and Decentralized File Storage.
Learn more at www.apollocurrency.com