In this article I share with you my opinion on why many Africans have been slow to adopt the use of cryptocurrency. After conducting several stop and ask interviews on the street, I realize that way too many people are not aware of what cryptocurrency is and those who do, associate it with scams. Some have never heard the word "cryptocurrency" and those who have heard about it associate it a new language they know but they cannot understand it let alone speak it.
There are many reasons to account for this and this article shall explore those and make suggestions as for what can be done to increase awareness about this new global currency.
Many African countries face varied problems when it comes to accessing the latest technology and global trends. Some of the reasons cited for this; include lack of the financial and infrastructural resources to tap into emerging technologies and trends. Some countries have very low GDPs and the people there are poor with most households owning a few smartphones and no computer. In most cases a few people are computer literate when averaged with the country's entire population. To make matters worse, there is poor internet provision services in most African countries such that it is hard to access the internet. In most cases, internet or data services are too expensive or too poorly delivered to be worth the trouble of purchasing them. In light of this, how can one become aware of global trends like the advent of cryptocurrency let alone participate in cryptocurrency related activities like mining and trading.
As a long as GDPs don't improve, it will be a long time before many Africans become fully abrace with cryptocurrency and its functions. Moreover, if the internet service on the continent remains poor, most Africans that would otherwise benefit from cryptocurrency will remain cryptocurrency poor. Follow and join me on the next article as I (a fellow African) explore even more reasons, why many Africans do not know about cryptocurrency. Please note, this does not constitute a professional opinion piece, always do your own research.
