To get a comprehensive overview of Africa it is necessary to understand the economic and socio-cultural history of a continent with more than 1.2 billion inhabitants, most of them young entrepreneurs and without a bank account, also to note that the majority live on less than 1 dollar a day—so if it goes to adopting a decentralized currency, it would have to be one that was favorable to the living conditions of the majority of the people, obeying some basic criteria:

It has to be a currency that works with absurdly low rates (to absorb the vast majority of the continent that receives less than $100 a month), fast transactions (only then will it be able to supplant mobile wallets that function as banks for most of the continent), secure and completely easy to use—only then will it have a chance to be widely adopted, and Bitcoin Cash is better placed to win this race.

A Bit Of Africa

Despite the vastness of the continent, African soil is very rich in natural resources, such as gas and oil, as well as minerals with more emphasis on diamonds and gold. Despite all that, Africa is still one of the poorest continents in the world.
This poverty results from colonial and neocolonialist exploitation, as well as intermittent corruption in the government structure.

Agriculture, the manufacturing and services industry, tourism, transport, and communication sectors in most African countries are still handled poorly and with considerable limitations.

These branches of economic activity in most African nations directly suffer several impacts:

• Food crisis, administrative deficiencies, excessive poverty, high level of monetary inflation, international debts, and constant wars.

The Economy

The 21st century has been a great rematch for most African countries, and in the last twenty years it has had a noticeable trajectory, largely because of the demand for the continent's wealth, leading to an increase in oil, natural gas, and food prices.
Not only that, many countries have benefited from external debt relief for humanitarian reasons, which has led to the positive effect on the economy in the region.

1. Natural resources (oil and gas).

Africa has 12% of the world's oil reserves and 8% of gas, and with several regions still to be studied and explored, the countries that stand out in oil production are:

"Egypt, Libya, Algeria, Nigeria, Gabon, Equatorial Guinea, Angola, and Congo-Brazzaville."

These are not the only countries in the production of this important resource, since recently other emerging nations such as Mauritania, Sudan, Chad, and São Tomé and Príncipe have emerged.

1. Mineral Resources (diamond and gold).

Diamond reserves in Botswana are among the most important on the continent; in 2006, they registered remarkable growth, and the country directed all gains from the ore to the area of education, with more focus on primary studies that are conducted free of charge.
Tanzania has also seen remarkable growth in the commercialization of gold, largely because of the appreciation of its price in the international market.

1. Agriculture:

This is the economic activity that occupies most of the population of the continent and includes countries notable for organic production, such as Kenya. Countries in the sub-Saharan zone are engaged in partnerships that enable them to have water so they can practice agriculture and produce maize, cassava, bananas, and beans.
Ethiopia is the world's fifth-largest coffee exporting producer.
In the south of the continent, as in Mozambique and Angola, countries like Brazil are investing to promote agriculture.

Make no mistake, despite all these developments to promote agriculture, the continent is still in serious danger of suffering hunger, as it is still not self-sufficient and cannot accommodate the majority of the people living on the continent.

1. Tourism:

The continent also has a large flow of visitors who help in the development of tourism, and as it has been blessed with beautiful landscapes, this economic activity is very important.
Countries like Cape Verde, as well as the majority of those bathed by the African coast, use tourism as their main source of income.

In South Africa and Kenya, their natural parks attract the attention of tourists who are interested in their wide variety of wild animals and more, as these same countries support hunting, which is a strong source of economic income.

This economic activity, together with agriculture, constitutes one of the main sources of fundraising for governments in the main African countries.

1. Foreign capital injection:

China Scenario

Africa is a very attractive continent for many developed countries that wish to invest, and the biggest investor in the 21st century is the Asian giant China.

The Chinese have partnered with several African countries in the field of oil, construction, and telecommunications, currently being the largest investor in Africa with more than 10,000 companies.

And you may ask yourself: but if China is a big investor, then why does the standard of living and employment not change on the continent?!

Well, the Chinese, despite being the biggest investors, bring with them a part of the workforce that will work in countries with partnerships—and that number is not small, with more than 100,000 Chinese working here in Africa.

China's Goals in Africa

Many voices speak about the real Chinese interests in Africa; it is certain that the balance of trade is still smaller, but they want to counteract the American influence on the continent, thus being their economic objectives but also of a diplomatic nature.

Not only the American influence is being fought, but also the Japanese presence on the continent, since this country has long sought support from countries in Africa to remain at the United Nations as a permanent member of the Security Council.

Among other objectives, they also want to erase any official international recognition for Taiwan.

Problems on the African soil

Africa is still plagued by a number of negative factors, although in recent years it is developing, as the various unstable political regimes on the continent (terrorism conflicts in northern Mozambique, Chad, and elsewhere) lead many economies to sink.

The continent also suffers from a precarious international raw material market, leading many countries into economic recession.

The largest economies such as Nigeria and South Africa do not escape capital inflation, and in recent years Nigeria has lost its status as the largest economy, and South Africa has escaped seeing its currency completely depreciate due to the 12-month appreciation of economies that use the CFA franc as the national currency.
There is also the problem of infrastructure insecurity that can collapse at any time.

Illness: Recently the continent, as in many other parts of the world, suffered from the effects of COVID-19, but has already been suffering from AIDS and Ebola that have plagued African regions, leaving a trail of deaths and with the aggravating factor of killing the continent's young and active population.

How to use Bitcoin Cash as an Emancipation and Security Currency

As we can see in the explanation above about the African continent, many of the countries that make up Greater Africa have natural resources, minerals, live off tourism and agriculture, but also suffer from several problems such as food insecurity and are plagued by various diseases.

These riches have no weight in the life of the common person in Africa; a certain African elite benefits from them, and foreign investments keep the vast majority of resources that, in turn, gain are used to develop their economies, relegating Africa behind and continuing to be one of the most impoverished continents in the world.

Its young and active population does not have a stable job and often lives in the informal sector, and this is where the encounter with the world of cryptocurrencies meets.

I mentioned above that the great investing power in the continent is from China, which is also the country with the largest suppliers of goods to supply the informal African market, leading young entrepreneurs to travel to purchase products in the great country of China.

It is here that the use of Bitcoin Cash has a great opportunity to maximize itself. Since the micro and medium entrepreneur, to obtain merchandise in the past, had to go through a tortuous process that consisted of acquiring dollars in the square, then depositing them in the bank account (where many of them do not have or do not use frequently), and later transferring to suppliers of goods.

This process incur bank transaction fees, which are often high, not to mention the lack of security in acquiring dollars on the black market, as banks only make them available to customers holding bank accounts at their branches.

The use of Bitcoin Cash has become a safe way in these purchases and sales by the trading parties; the process is fast, direct, and secure. Not to mention that it is very cheap for buyers of goods and also guarantees the seller payment in real time, guaranteeing that they receive the same practically instantly in their encrypted wallet.

Not only in the business field!..

It should be noted that China have many workers in African territory, many of whom have left relatives in their country of origin and need to send money for their maintenance, using Bitcoin Cash as a remittance solution, paying extremely low fees and meeting their needs in real time.

Bitcoin Cash manages to fix many problems as its fundamentals—low rates, fast transfers on the network, safe and completely decentralized—give the feeling of power and maximum security to the user who does not depend on third parties to be able to move their funds in real time and with the necessary agility to take care of their loved ones or even pay for their merchandise instantly.

P.s: BCH is Bitcoin and a practical currency to use in Africa; it has lower fees, fast transactions, and also benefits users with a secure environment, turning them into their own banks where they can use cash without borders or external interference.

Summary

The continent is large, wealth is abundant in almost every corner of Africa, and the vast majority of the population lives on agriculture and tourism on a continent plagued by completely authoritarian governments, often anti-democracy (despite preaching the opposite); there are military conflicts very much because of political intolerance and natural and mineral resources.

Not everything is bad; in recent times, the continent has been gaining strength with the arrival of investors, who directly or indirectly contribute to the reduction of the unemployed workforce and also bring innovative ideas and a different way of life, helping the young African not to depend on the government, but to open their own path with the various sources of income that exist today.

These new activities of the 21st century are also the ones that introduce into the market the need to have decentralized accounts to be able to obtain merchandise, paying directly to suppliers and having it delivered on time to supply the market without having to depend on third parties to obtain fiduciary money, the vast majority in dollars, all ending with decentralized open-source digital money with low fees, secure and very fast transfers—Bitcoin Cash.

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