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RE: A Real World Challenge for STEEMIT
Great article, thank you for sharing. One of the largest issues that I see is saying "Africa" is like saying North America (Mexico, U.S., and Canada). Too many countries and bureaucracies to deal with for one solution to a problem deal with one issue, that being electricity. However, I do believe that cryptocurrencies could in-fact break down some barriers for each of these countries or regions with like-minded goals.
Hello @clarkwb02; you are absolutely right. The common ISSUE that, basically, all African countries are facing is inaccessibility (by the vast majority of their respective populations) to electricity--which severely constrains economic development, has an adverse impact on health and education, etc. While the SOLUTIONS need to be tailored, there are, nevertheless, some common threads. First and foremost, there is an absolute need for private initiative and capital; governments don't have deep enough pockets or visionary thinkers / leaders--and, too many vested interests. Second, solutions must address the issue of affordability and payment systems that "fit" the economic environments and customer bases (a real potential role for cryptocurrencies and blockchain technology here I should think). Finally, any solution must be both commercially and financially viable--otherwise, it is doomed to failure.
They would not like Cryptocurrency to run, because of its transparency.....but soon the future will tell
You're so right, @clarkwb02. Africa has 54 sovereign countries, many still untangling their colonial legacies after decades of political, but not economic, independence. That's a lot of different governance structures.