Twitter May Locate in Africa

Darnell Taylor
December 1, 2019

Jack Dorsey believes that the future of bitcoin will be defined in this continent.The executive held meetings with enthusiasts of bitcoin in Nigeria, Ghana and Ethiopia.After a tour of bitcoiner who took him to Nigeria, Ghana and Ethiopia, Jack Dorsey, co-founder and current CEO of Twitter, reported that in the year 2020 will be moving to Africa. According to him, Bitcoin has stood the test of time, sustained despite experience massive backlash and darkest times and that no other currency can portray the stability Bitcoin offers. In a tweet published Wednesday, the prominent Silicon Valley executive remarked that he is "sad to be leaving Africa", as he thinks that the continent will define the future "especially the Bitcoin one". And crypto companies have been busy in Africa-perhaps Dorsey's onto something, after all.

One software developer made a big impression during Dorsey's visit to the Nigerian commercial hub of Lagos. Africans have had P2P financial systems in place for centuries. Youssef said that Nigeria - the largest economy in Africa - has restrictions in sending money outside the country, and that Bitcoin's lack of liquidity was the first hindrance it had to solve to introduce the digital currency to Africa. He may shuttle between several African countries.

Paxful has enjoyed a considerable level of success in the continent.

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In May, the Imani blockchain platform saw the potential in Africa to build the blockchain-based banking platform, making banking services available to millions in this underdeveloped region. In fact, Nigeria, Ghana, and the USA have reached 15 million trades over the last 12 months, marking an increase of 65 percent from a year ago.

Major exchanges are expanding into Africa, too. Last year, Binance launched Binance Uganda - a fiat-digital currency trading platform that allows for the direct conversion of Ugandan Shillings to BTC. The program provides the country access to cryptocurrency trading, adding liquidity to the market and building the next generation of crypto traders in Africa.

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