The tool that can help Africans build the next Facebook, Google

Nigeria, South Africa, Ghana, and a number of Africa’s major markets have been witnessing an increased drive for cryptocurrency. Aiding this process are a number of crypto platforms offering unique social services.

At the panel session, “Secure digital currencies for the future of Africa”, at Techpoint Build 2020, Yele Badamosi, CEO of Bundle Africa; Hanu Fejiro Agboje, CEO of Patricia; Eric Annan of KuBitX; and Marius Reitz, General Manager for Africa, Luno, gave nuanced insight into taking crypto mainstream.

As we discovered from previous research, the predominant use of crypto has been mainly for speculative purchases. Buyers used both formal and informal P2P exchanges to buy and hold crypto against future cases of inflation and devaluation. Few cared about using it as a legal tender to purchase items.

According to Badamosi, the rise of crypto platforms offering social payments has been a strong factor in bringing many people into the crypto space and establishing trust in digital…

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