Evolutionist,
Imagine living in a place where an outside nation-state controls the currency you use day to day? Controlled by people you did not vote for, can hold accountable, nor escape their monetary control. That is what the French have done in Africa for over 75 years since the end of World War II with the creation of the CFA Franc.
Fourteen African nation-states are forced to use a currency pegged to the Euro and printed by the French government. This currency has been very unfavorable for these 14 nation-states. They send more money to France than they receive in aid and ultimately have no sovereignty over their monetary policies. None of these nation-states have faired well on the global GDP scorecard and are not considered one of the world’s developed nations.
Under this CFA Franc rule, the Africans have lived through multiple overnight currency devaluations. Years of hard work and savings were wiped out because of a decision made many kilometers away in Paris. Sounds completely unfair, right?
Because of this, Bitcoin adoption has taken off on the African continent as people store their savings in a currency that keeps its value. Africans like Fode Diop have turned to Bitcoin as a solution for the continent’s people and a tool to unify Africa. In December of this year, Ghana will host the first African Bitcoin Conference as a true sign that Bitcoin has arrived on the continent. I look forward to bringing you more stories on Bitcoin Africa.
To the moon!
Meet Btrust’s Abubakar Nur Khalol, Africa’s Bitcoin Innovation Savior
“The people of Nigeria will lead #bitcoin.”
Jack Dorsey - Twitter and Block Founder
Onboarding One Billion People Onto Bitcoin
“The people of Africa are the true leaders in this movement and the rest of the world is getting a front row seat.”
Ray Youssef - Bitcoin Magazine
Decentralization: the process by which the activities of an organization, particularly those regarding planning and decision making, are distributed or delegated away from a central, authoritative location or group.
READ 📚
The Bitcoin Standard: The Decentralized Alternative to Central Banking
The Fiat Standard: The Debt Slavery Alternative to Human Civilization
21 Lessons - What I've Learned from Falling Down the Bitcoin Rabbit Hole
The Blocksize War: The battle over who controls Bitcoin’s protocol rules
The Price of Tomorrow - Why Deflation Is the Key to an Abundant Future
WATCH 📺
Cryptopia - Bitcoin, Blockchains, and the Future of the Internet
Bitcoin: The End of Money as We Know It
Banking On Africa - The Bitcoin Revolution
LISTEN 🎤
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