Haven spent a larger part of my life knowing national currencies (fiat) and now exposed to decentralized cryptocurrencies if asked where to cast my vote, it will be definitely for decentralized cryptocurrencies based on what it can offer as opposed to the current fiat I have known all my life.
This is a topic which arosed from Michael Jordaan's tweet
Interesting Michael Jordaan happens to be a former CEO of South Africa's FNB (First National Bank), basically this is someone from a centralized financial institution a BANK. From such background I admire him for putting out such tweet out there.
While the advantages of decentralized cryptocurrency for Africa can facilitate easy trades, eradicate corruption, faster transaction time as opposed to the current system amongst many other advantages the reality of a decentralized cryptocurrency for Africa is just a dream I don't see coming true.
The current system enjoys printing fiat, it enjoys embezzling, it lives to steal form the masses another day, it thrives with hefty transaction charges with pages of T&Cs, it derives riches closing down accounts of individuals gone astray.
With all these monopoly power they control a decentralized currency for Africa will be killed even before conception.
What I do see though is Africans opting for their decentralized currency of choice and that we are already seeing with Bitcoin and Altcoins.
Instead of an African decentralized cryptocurrency, I see decentralized cryptocurrencies being used especially by those sick of the current fiat system.
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Crypto is the solution, not just for one continent but also for entire world.
Why settle for currency for a country or continent when we can have same currency everywhere.
Kick out fiat and welcome crypto.
No doubt a single decentralized cryptocurrency for the world will be so sweet, while not going to happen, if it begins with a country and then towards a continent it can end up being some of immense benefit.
Do you think we will even see a country with a complete decentralized cryptocurrency any time soon?
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