1y ago

Crypto offers Africans a ‘lifeline’ from inflation and corruption, say execs

web.archive.org Crypto offers Africans a ‘lifeline’ from inflation and corruption, say execs

Crypto has given many Africans a “lifeline” to transact more freely without government influence, according to three African-based crypto CEOs.

Chris Maurice, founder and CEO of Yellow Card, Africa’s largest cryptocurrency exchange, says crypto in Africa “is growing at the speed of light” because it allows many Africans to escape from the traditional financial system’s failures and transact more freely.

11 comments

Of course a CEO of a crypto exchange would say that. If you are going to write an article, maybe ask someone less partial next time. Saying crypto helps people escape failures of a traditional financial system is the equivalent of jumping out of the frying pan into the fire.
- Not only that, but the whole site is of questionable caliber
  Moreover, this isn't news

This just is, foxes will protect your chickens if you leave the gates open says business man I. R. Fox.

This is complete BS. In reality crypto enables corruption on a scale unseen before.
- @poVoq @Supercell
  Complementary currencies have been in place for thousands of years in human history, and it was largely for the benefit of the societies and their individuals, for crisis development, transitional economies and/or commons-based communities.
  Blockchain is a great tool for this kind of money. Saying something like the whole of the crypto world is a scam is a gross generalization that has nothing to do with reality, as much as fiat money isn't a scam because of the corruption, scandals and crises we have been experiencing in the fiat system.
  If you want to bribe a person or something, then the least thing you need is a decentralized network like a blockchain where all the data is stored across the network on all nodes. Crypto "enables corruption on a scale unseen before" ?THIS is BS.
  
  Stories come out daily about the constant grifting and failure in the crypto world. It's a fucking casino.
  https://web3isgoinggreat.com/
  
  As interesting as the technology is, it was extremely overhyped and attracted the worst kind of people, who only wanted to gret rich quick".
  The amount of crypto projects today is absurd. The scalability problems aren't solved yet, but people keep pushing their "revolutionary" coins.
  We reached a state where even technology enthusiasts and the ones who like the idea of decentralized money became weary of the blockchain environment.
  
  But... also true. Are you suggesting that rypto doesn't make corruption much, much easier?
  
  You're ignoring the last few years of the crypto space, it's all crooks taking advantage of idealists and the clueless, over and over and over and damn fucking over again, and now they got you

IDK I agree that its supports me against inflation in Turkey. Bank exchange cuts are 2₺ per $ while in crypto I can buy stable coin in the price I want.

Just what we need- crypto bros with a white savior complex

11 comments