Even in the digital realm, sometimes the best approach is boots on the ground.
Hive is making news all over Ghana with the Hive Borehole Project. We see the funding of drilling to bring local water to communities. This is an important step forward for the people living in those areas. The project has reached 4 communities.
There is also an outreach program to help with the education of the children in that area. A number of approaches are being taken, including the passing out of Hive "branded" materials.
The accounts of @mcsamm and @collinz relate what they are doing in Ghana to get the word out. Of course, it is not focused upon Hive as much as the borehole project along with the assistance in helping the education system along.
We now see a promotional tour takes place:
There are a number of instances over the last few months where the media in Ghana picked up on the stories of what is being done. The team behind the Hive Borehole Project along with the education materials do a wonderful job promoting Hive.
All that aside, why is this important?
Source
Hive Can Be A Force In Ghana
In the world of cryptocurrency, Ghana is a place to watch. This is not some country that is off the radar when it comes to adoption. In fact, this could be a major epicenter for growth over the next 12-24 months.
We know how countries like Nigeria are doing well with cryptocurrency and blockchain adoption. In the end, we will see tens of millions of users from that country alone.
Ghana is shaping up to follow a similar path. The world has a tendency to focus upon Wall Street, large investors, and markets when it comes to cryptocurrency. However, the real action is in places like Nigeria and Ghana. Here is where a true need exists.
Cryptocurrency is going to fill that need.
For Ghana, it is experiencing a large growth in volume. This is putting it on the cryptocurrency map.
As emerging markets take the lead in crypto adoption, Ghana, a country located in West Africa, may soon catch up to other African countries regarding cryptocurrency use.
This is very good news for Hive. Since there is already a presence in Ghana, serving local communities, it is easy to see how word can spread. Each time the team puts out a set of books with the Hive logo, it is materials that people see. Obviously, the larger trend towards cryptocurrency education along with use is taking place. Hive is putting its name in the ring by having it in front of people.
In a report released by blockchain analytics platform Chainalysis, researchers found that Ghana has the potential to achieve crypto adoption levels similar to Kenya and Nigeria, countries which ranked 11th and 19th in the analytics firm’s global crypto adoption index.
Here we see an amazing opportunity. If cryptocurrency adoption does rival the other major African nations, Hive could be in a fantastic position with Ghana. The members on Hive who are working tirelessly in that nation to make a difference are serving us all very well.
Hive Backed Dollar Is Very Important
One key piece in this is the Hive Backed Dollar (HBD). This is a coin that is vital to those living in African nations. Actually, it carries the same concept to all non-USD nations.
At the moment, the global economy is suffering under the weight of a strong USD. This is causing havoc for all those countries that have USD denominated debt or buy a lot of imports. A rising dollar causing the value of their currency to fall, making these payments more expensive in the local currency.
This sets off a wave of massive price increases simply due to the currency exchange rate. If we couple in the scarcity and supply chain disruptions, we see how the rates can reach 30%, 40%, or higher.
HBD offers a solution, at least for the exchange rate.
Individuals in those countries can keep their money in HBD, a coin that is tied to the USD as a unit of account. Since the peg, especially on the internal exchange, is fairly strong, one can maintain the purchasing power against their local currency.
Throughout this year, we saw many currencies crashed more than 20% against the USD. People in those countries basically have one choice if they want to avoid the consequences: get their money into USD.
Here is where the challenge comes in. Countries are finding it difficult to get a hold of USD. Their only course of action, since the banks can't expand it on their balance sheets, is to sell their US Treasuries. This is how USD can be pulled into the country.
Of course, this does not guarantee it is available for the average person. Much of this is available for the government and/or corporations to pay debt as well as make international purchases. There is great difficulty for the average Nigerian to get a hold of USD. We also have to take into account it is not a safe thing to do.
With HBD, this situation is changed. Anyone can go onto the Internal Exchange and swap HIVE for HBD. This will reside in someone's online wallet, never existing in physical form. When the local currency is needed, one can reverse the process, sell the HIVE, and transfer it into the native currency.
This puts one ahead of the game even before we account for the 20% APR earned on HBD in savings. We are simply focusing upon the exchange rates and how HBD (since it follows the USD) and how much of an advantage this is to those in countries who have currencies severely impacted by the exchange rate against the USD.
As most of us are aware, Hive offers the ability to serve countries such as this. With 3 second transaction time, the scalability of the network is not really in question. Since there is the ability to earn HIVE through the social media applications, one can then easily access HBD. By adding in "boots on the ground", we can see how Hive could have a strong presence in Ghana.
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Ghana does not have the kind of restrictions that are seen in Nigeria. In Nigeria, it is still seen as a crime to hold crypto. I know some of my brother belemo and some others on Hive that have been held by the police because they had Binance on their
With the way the project in Ghana is going, there is a good chance that other African counties will start to adopt Hive as an alternative entertainment source and a means of commerce. I feel this way because inflation is hitting African countries way more and many countries are removing subsidies.
I'm interested in knowing what is your take on inflation in Africa and if earning in crypto can help us over here
Governments have to use scare tactics to make people comply. If enough ignore the laws, the situation becomes useless. This was the case in the US with the illegal downloading of music: so many were doing it that they couldnt go after everyone.
We need the same with crypto. It does help when other countries do not carry the same restrictions. Those have to become success stories so others see the benefits and want the same for themselves.
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Very true... The issue with Nigeria is that you have corrupt police that does not really care about the laws, they just want to extort you and when they see Binance on your phone continue to threaten your life till they get money
Yeah government corruption, which police are a part of, extends to many levels. It is sad that people endure that but it is how things are. We need to keep pushing forward, making things more difficult for them.
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This is so true. Even though cryptocurrency is not officially approved in Ghana, banks and a lot more institutions as well as individuals are free to have crypto transactions without any stress. This makes things better and easier in working with blockchain.
Exactly. Thank you for adding this. What is your take on arresting people in Nigeria?
I am curious, is it easy for someone to convert their Hive into the local currency of Ghana?
I'm not totally sure. But I know in Nigeria before our government put a ban on it all you needed was a verified account on Binance and you were set.
Trade Hive for USDT and sell USDT for Naira from banks
Personally, I'm happy with the progress we have made so far with the Hive empowers communities project, which is assisting in bringing the true value of cryptocurrency to light. I appreciate you recognising all the wonderful contributions we have made with Hive Ghana Sir @taskmaster4450. Our goal has been to spread awareness of the different opportunities on Hive while we work on the projects. Ghana hasn't yet adopted cryptocurrency, however adoption and regulation is possible in the near future. Our message has not only focused on investing in cryptocurrencies, but also on the numerous opportunities that the Hive ecosystem offers. I think there is more to the Hive decentralised blockchain than just being a underlying technology for cryptocurrencies that the world needs to know. We are willing to market Hive in ways possible even beyond Ghana.
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It's pretty awesome the things Hive is doing to change lives in some of these countries. Hopefully we see a sort of trickle up effect and eventually this wealth will be spread to more of the first world people. Glad to see you are okay. Missed your posts yesterday and was afraid something might have happened. Funny how we make those connections with people we have never met huh?
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Not only that but the support we give to the ones heading up these initiatives along ends up supporting all of this. They are helping to put the name in front of many in Ghana.
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Very cool!
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So happy to be aware of this.
That is true. It is up to each of us. We are all a vital statistic in this.
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I believe Hive could be a big and lot of things in developing countries.
In developing nations where Hive and cryptocurrency are needed most. Great to see the ordinary African embracing crypto
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It is the basis that cryptocurrency needs. The west is going to use it as an asset class to invest in. For Africa, it does solve some real world problems.
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Ghana picking up in cryptocurrency ranking is great for the West African region. Even greater is Hive establishing its name in Ghana. The more Hive gets on national TV and Radio, the chances of getting the people to tap into the opportunities on Hive increases.
I am glad to see cryptocurrency adoption in Africa on the rise.
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Yeah hopefully it will stimulate people to come to Hive and get involved. Hive does offer some advantages to other chains due to the social media applications (along with games) being built on here.
This is a nice way for people to enter.
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It's a good development what's going on in Ghana. Nigeria wouldn't be able to get such a thing done and involve a national radio or TV because of the Crypto trading ban. I think what's happening in Ghana is really good. I'm hoping there the right people can get to see the project and consider it worthwhile to invest here, afterall it is an outlet for marketing.
Hello my friend.
What good news that a country with so much need in basic aspects such as drinking water, are being helped by HIVE, this is a great help for many people and every day there are more and more African users who are an active part of this great platform, seeking to improve their quality of life, like many of us who have come looking for the same purpose, excellent news and success for HIVE.
One of the best crypto initiatives out there. It is bringing a basic necessity of life to many people (at least making it local).
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After writing this post, I came across this article by @mcsamm.
Another one in the works.
https://leofinance.io/@mcsamm/announcement-of-the-5th-hive-borehole-in-ghana-a-tremendous-improvement-in-people-s-lives
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Won't this dominant force hit us in the forehead? I mean, adoption is a very good thing. But wouldn't the withdrawal into fiat be more than saving in Hive or HBD accounts. I think about this a lot, but without numbers I can't assume for sure...
If things took off, HIVE could be converted over to HBD to facilitate the need if people started to move fiat into it. Of course, at this point, we are not even using up the HBD from the HBD Stabilizer so there is plenty of room.
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Got it! 🙌
"However, the real action is in places like Nigeria and Ghana. Here is where a true need exists."
I agree with this 100%. So much focus is on what tokens going to moon next. More focus should be on solving real problems.
These projects have been remarkably helpful not only to the people but also to the hive community as many have gotten to know about hive through these initiatives. To get to the masses, we just have to move to where the masses are . And that’s what I think @collinz and @mcsamm is tackling. Though the masses might not be the rich, it is relevant we don’t leave them out. History tells how Mark the owner of Facebook spent millions trying to make Facebook free for Africans . All in all, Facebook has reached remotes areas due to this approach.
We're reaching Ghanaians with hive even as we help solve some of their basic challenges. Thanks for your addition bro @tj4real
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there are a lot of users from ghana and I hear of this project it is proof that crypto can also make life better for them water is life and we will be giving them a better life
It's a good thing Crypto is having some space in Ghana helping lot of people with Crypto. Although country like Nigeria are still looking for way to get freedom from government in order to make use of Crypto. I believe we can't restrict this if they're aware it have a lot contribution to the people in Nigeria. Through Hive I have once help a village in Nigeria to repair two borehole water which I think if this continues many people will look into Crypto
Hbd will do his part in the development of some nation in Africa because hbd brings about stability and crazy income we mostly see in this region
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It is already felt strongly in Ghana. We are just educating more people on how blockchain and web3.0 function. In this way, we will be able to attract the vast majority of individuals who are eager to make hive their everyday activity. The planned 5th hive borehole is set to make Ghanaian history the only blockchain project that has improved the lives of people in the Ghanaian countryside. Thank you, sir.
I am happy that Ghana is doing well in the crypto currency industry.
I feel we can do more to make the presence of hive known.
I currently want to work on the publicity of Hive in Ibadan. Ibadan is where I stay and I intend to popularity the blockchain.
I have referred a lot of people and they seem to start and stop.
I am thinking of setting up a course for the blockchain soon
Hive can become a dominant force in every country as it's popularity climbs. People will find it eventually and when they do they will be blown away. Unfortunately the poor will always be the last to the table as they don't have the resources.
check the status of cryptos in Venezuela, there are so many businesses that accept payments on platforms like Binance or localbitcoins, I see a good opportunity to get Hive in the market.
You really touched on a great topic. Having the Hive become the dominant power in Ghana or any other country will have great results. Just making people aware of HIVE can be quite effective for this.
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I can only accept the fact more and more. Since people in my community alone learnt or realised that I am a crypto enthusiast and I deal well in crypto investments, I’ve got a lot of people( even people I never expected) walk up to me to help them in setting their up a binance account and am sure by now you know the coin they all wanna invest in (btc).
Now I see this as an opportunity to introduce the hive blockchain to them but am a little bit scared or should I say worried. This is because I don’t have enough Hp to delegate to help them in making post and engaging in the community.
I think sooner or later I will be have enough to delegate and then hive will be known all over in my community here in Ghana🤞
I think it's possible and I believe it will work out for the people in Ghana. I saw a few videos about how crypto or other charity organizations did things in poor undeveloped areas and they never really went well in the end. However, I do think that Hive won't just be something in the passing if its done right.
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If local people can create a network between producers, they may just decide to hold their funds in HBD and not even bother to convert it to the local currency.
I agree that it's great for the people of Ghana and the chances they might get to have access to the USD and any more things related with it. But, correct me if I'm wrong, I don't see the big benefit for Hive, since I don't see the possibility to swap it OUT. I mean the use case of Hive IN Ghana, or the possibility for Ghana to export (to use a "big" word) and cash in "hive", which would make Hive stronger and have the Hive price (value) rising. And honestly, this is what we are all waiting for, aren't we?
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Crypto keeps increasing its popularity day by day and I am glad that more and more people from different continents are embracing cryptocurrencies..
We those here in Ghana are much fortunate for this, we are really happy how Hive has been impacting lives. The main idea has been the marketing side of Hive getting to the people and Just as you rightly said,,Ghana should be a place to consider for crypto adoption. Thanks @taskmaster4450