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CRYPTOCURRENCY: ANOTHER REASON TO WORRY ABOUT AFRICA CATCHING UP

By Noel Francis | Elianu Noel Francis | 20 Jul 2024


Every informed person needs to know about Bitcoin because it might be one of the world’s most important developments.”

- Leon Luow, Director of the Free Market Foundation


As its custom, me and my brother Ivan like discussing global trends when ever we meet after a long time. Given the fact that I stay and work in the city, and him, for reasons best known to him, decided to stay in the village after graduating from law school and took up farming as a profession, when ever I visit we dialogue, but most times emotions turn the dialogue into a debate, such that its rationale of learning from your opponent is replaced with the urge to win. He ever expects me to be updated about the status quo beyond our boarders. This to me is a challenge, it makes me read enough before I travel back home when ever I have to. This time I was enthusiastic to share with him the good news of crypto currency. I had learnt about it from my peers, but had not understood it until i came a cross publishox.com. Having drunk from the cups of wisdom from writers here, i felt like my cups of knowledge on the subject were at least full, or at least half full.


One day, as June faded, I decided to travel back home for a holiday from work. So I embarked on this safari, and on the way, I bought a newspaper  to equip myself with the latest crypto news and kept on scrolling through posts on publishox.com for more. I reached my destination, and we hugged passionately, it had been long without us seeing each other, a lot had happened, but that’s a story for a another day.

“ I have been following the news on various television channels. Kenyans are rioting over a tax bill. So strange that people are so scared to pay taxes yet they expect abetter life; good roads, schools and hospitals from the government. And the trump attempted assassination, I am sure it was made up to give him a sympathy vote.” My brother started talking as we walked from the bus stop towards home. “ what do you think Noel?” he asked, uncomfortable with my silence.


“ I am thinking of investing in cryptocurrency. Its a lucrative business.” I said. He paused for a second, then looked at me in the eyes in silence. He gave me that look he always gives whenever he is convinced that I am thinking unreasonably.

“ Don’t tell me you want to join those online scammers!!” He finally talked.


“ You have been following the wrong gospel about cryptocurrency, preached by enemies of progress. Those who have chosen the path of ignorance and as such kept back as the world moves forward.”


“ I can see..”


“ See what..?”


“ The damage the western media is doing to you. I am sure if you were there in the days of colonialism you would have been a mong those who cooperated and betrayed their own brothers and cultural identity” He reasoned.


“ Your problem is that your still holding on to the past. That is keeping you from healing. The word is now one community. We co-exist, people have forgiven each other." I argued.


“ But we have not forgotten how, like bulls, we were arrested and made to walk thousands of miles to grow sugarcane in America.Fueling the economy that now boosts to lead on the world chats. Yet has soon forgotten that its roads and skyscrapers where built by black labour, and that we, the black, fought with them side by side for independence. Only for us to remind them that black lives too matter!!” His eyes were now wide open, teary and filled with furry. I could see a storm beaconing. On my side, the clouds were as well gathering, what lay a head was worse, a tornado. “ That is your problem. You know every evil that colonialism did to us. But your never discuss the good part. We can't carry on with hate. Will you at least give me audience, I am sure this time you will agree with me that crypto is a hotcake.”


“ Go on sir” He reluctantly said,


“ crypto is revolutionizing systems of financial flows. Have you herd of the DeFi projects? These are decentralized systems of crypto currency trade. Unlike tradition banks, they cannot be regulated, censured or tampered with in anyway. We can now save and bank without fear of abnormal interest, long bank cues, hyperinflation, and as well invest. Better still, it has and is still widening the scope of capital markets. We don’t have to travel miles to trade anymore. Just a click and your good to go”


“ Another so called nonsense of technological advancements eroding us of the last that is left of our identity as a Africans. We didn’t need traditional banks, still we were manipulated into them, now they have brought the so called crypto. The western world is using technology to colonise us from a far. I can tell your already being mentally colonised.”


“ We didn’t need banks , so you say?”


“ Yes. In the old days wealth was not counted on having large chunks of money. Take Othieno for example; the man who owned  thousands of cows and hectares of potato, maize and cassava farms. He was considered wealthy and powerful. He could trade cows for anything he desired, marry for himself and his sons as many wives as he pleased. His wealth was his property. Money brings insecurity. You have much, your hunted. You cannot sleep. You must take it to some bank to keep it, or else, you   risk  loosing it and your life. How would you convince Othieno of fiat, or even of such a thing as buying digital assets? Something you cannot see? Nonsense."


“ Even with cows and without money as a medium of exchange you cannot say we were secure. The Karamojongs would attack whenever they pleased, take the cows and kill our men.”


“ The whites should have then given us banks to keep in our cows. Nevertheless, the Karamojongs were strengthend by colonial guns. They were not men. The whites, still in the name of technological advancements , invented tools of self destruction like guns. I am sure crypto is another way. We were better primitive.”


“ You say we were better primitive!! You and who? For your information we were not forced into civilization. We followed our free will! Look at Okello, he invested in Bitcoin and he is now wealthy. Here we are still blinded by the past.”


“You expect me to buy the Okello story? Sounds to me like some of those jokes told my motivational speakers, that they started their shops with pictures of merchandise.”
I had more to educate my brother on crypto, but i realised it wouldn’t be a lesson for one day. I remember posting on this platform an Article about my fears as to why it will take long for Africa to catch up with global trends in crypto currency. This is another.

Lastly, beloved..

If you don’t believe me or don’t get it, I don’t have time to try to convince you, sorry.”

– Satoshi Nakomoto, Founder of Bitcoin

 

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Noel Francis
Noel Francis

Jesus Wept


Elianu Noel Francis
Elianu Noel Francis

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