Bitcoin in Africa

Sep 1, 2015 | | Say something

Interesting article about a Ghanaian startup, Beam, which was previously involved in Bitcoin remittance, dropping the virtual currency altogether.

Maybe a case of Africa not yet ready for some of the more advanced online technologies. The infrastructure (or, rather, the lack of infrastructure), the purchasing power, and the (still) low internet penetration or speed makes it difficult to scale some technologies up to a point where it truly makes economic sense.

This is not to say that African startups should not get involved in the most innovative fields of internet businesses. My point is, they should take a hard look on their local market and user base and decide if really this is suitable at this point in time.

You can read the full article here.

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