During an exclusive interview with Coingeek, the nChain CEO, Jimmy Nguyen expressed confidence in the growth of Bitcoin Cash adoption in the terrain of the African continent.
Jimmy Nguyen’s Opinion On Cryptocurrency In Africa
Jimmie Nguyen stated in the interview that he and the chief scientist of nChain, Craig Wright have both been on a Bitcoin Cash global tour. This is aimed at spreading the gospel of Bitcoin Cash to the world, especially the developing countries, and the next generation countries, like those in Africa. He believes that Bitcoin Cash would see an aggressive adoption in African countries than in the Western States.
While he was in South Korea, Nguyen narrated his experience of an event where one of the organizers of the event held in Kigali approached him and express fondness of his vision and also suggested bringing it to Africa, where it is needed.
Notably, poor banking system and unbanked population are being exploited in Africa. This comes in excessive transaction fees and processing requirements when using credit cards, ATMs and other traditional banking products, which makes banking in Africa extremely difficult.
Nguyen further stated that Bitcoin Cash needs to move into places such as Africa, Central-South America, the Philippines, areas where there is a greater need for financial inclusion to help the unbanked populace of the world, also providing them with a stronger financial system that is possible with cryptocurrency.
Noting the potentials available in the African continent, Nguyen stated that what he learned during the program in Kigali is most of the African populace are under 35, and this is evidence of bright young minds ready to do new things, especially with the blockchain technology. This gave him a platform to inform the populace about Bitcoin Cash and blockchain technology and why Bitcoin Cash is the appropriate choice.
Cryptocurrency In Africa; Bitcoin Growth
Notably, the poor economic condition of some African countries due to hyperinflation has led to the adoption of cryptocurrency in countries where they are even banned.
Zimbabweans were reported recently to find making transactions in Bitcoin and other cryptocurrencies more convenient and comfortable than using the local banking system. A similar case is taking place in some other parts of Southern Africa.
Bitcoin Cash (BCH) is a cryptocurrency project that is just a year and some days old. During the past one year, it has proven to be a trailblazer through the growth of massive adoption and presently ranked fourth among other cryptocurrencies.