The Chief Executive and co-founder of Twitter, Jack Dorsey has been traveling in South Africa for a month. He is now present in Ghana after visiting Nigeria where he was engaged in some minor meetings with developers regarding Bitcoin. The main focus of Jack is to enlighten the area with crypto adoption because the interest rate of these countries toward bitcoin is very high.
It is confirmed that the visit to Africa has some objectives and future purposes. Through the CEO tweets, it is clearly revealing to us that Bitcoin is the cause that motivated Dorsey to visit these countries. The meetings held with the bitcoin inspired developers as well as mini startups founders who are working for the Bitcoin adoption in these countries.
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Gap between Interest and real-time Adoption
The reason why Nigeria is the most favorable country to invest in cryptocurrency is clear because the data calculated by Google demonstrate that the highest number of searches for Bitcoin is from Nigeria. The other two countries, South Africa and Ghana, are also included in the list of top 5 in the Google trends. The highest interest of people towards bitcoin is not compatible with the real adoption of Bitcoin.
The gap between the mental interest and the real adoption of BTC urges the Square to introduce its CashApp in these areas because the mobile technology is updated in these states but not the banking system. According to Square’s chief:
I want to understand the challenges of starting a company here and figure out a way I can support. I want to live here for three to six months next year, full time, no travelling.
Jacob Kostecki, who is a strong supporter of Crypto adoption, comments on Dorsey’s visit to South Africa and Nigeria that he is not pursuing the ETFs and the establishments of blockchain applications but about the major aspects of adoption.
.@jack is showing us where the puck is going:
1. He’s in Africa at local BTC meetups
2. His #CashApp is ‘banking the unbanked’ all over the country, 40% penetration in depressed areas
3. He’s hiring cypherpunks & core devs
He’s not yelling about ETFs or lettuce on the block https://t.co/QJXNrN28kX
— Jacob Kostecki (@jacobkostecki) November 11, 2019
Mobile Technology is ready to Adopt Bitcoin
The mobile technological advancement in Sub-Saharan Africa is continuously evolving as per the figures of the World Bank. Telecommunication companies and startups are booming at a speedy pace. Even in the rural areas where the banking system is not working well but mobile technology is penetrating day by day. So, crypto adoption can be a very profitable step for the people as well as for startups.