While the rapid emergence of cryptocurrency as a mainstream currency has changed the view and understanding of money in most parts of the world, cryptocurrency remain shrouded in much mystery in Africa.

Various reasons ranging from an informal sector that is full of cash to lack of internet access (only about 15 % of the African population has Internet access) and a low standard of living, seemingly make Africans to appear being in their of world.

Of course, I am a young African man, who wakes up in the middle of the night to use relatively cheaper internet, provided by my mobile network operator only in the wee hours of the night.
I believe the African continent should not be left out, and that is why I am here anyway!

Wee night hours: I am here to join efforts and make steemit a household name in Africa

In one of the blogposts, @afro-naija-trail, gave insights into the need to understand the state of living in African nations, for mass steem adoption.
https://steemit.com/afro-naija/@afro-naija-trail/africa-holds-another-ready-made-audience-for-steemit-learn-more-about-africa-in-our-series

Today, I shift the perspective and focus on why steemit could take the mystery out of cryptocurrency in Africa.

For the African people to understand the “inherent value” of cryptocurrency there should be a move to bring on board the most elite and innovative opinion leaders, so that information about this new medium of exchange can trickle-down to non-elites.
It’s natural that If an elite opinion leader is convinced to adopt an innovation, the rest will exhibit excitement and readiness to learn and adopt it.

This makes Steemit.com the best platform, because apart from the incentive that comes with posting, people can learn a lot about cryptocurrency. Besides, Steemit is powered by blockchain technology, similar to what anchors other digital currencies (cryptocurrencies)

In this way, the Steemit platform can help the cryptocurrencies to gain enough critical mass, and increase their acceptance as methods of payments across the African continent. It is worth noting that more people on Steemit platform implies more people transacting in Steem, which offers direct competition with Bitcoin and other cryptocurrencies.

Most African elites I have interacted with are 100% sure for use of cryptocurrencies in buying and selling. They say,

“Central banks have stolen from us and brought inflation and depressions for too long with fiat money”.

One young African had this to say,

“For me, what I want is the cardinal characteristics of money: Is it a medium of exchange? Once any cryptocurrency passes that test, I support it”

The only closest technology to cryptocurrency that Africans have adopted massively is mobile money and mainly because, about 30% lack access to traditional financial services such as bank accounts and credit cards.
This sets a good precedent for the mainstream adoption of cryptocurrency in Africa—and the only thing the African people need is information—the reason why steemit is the answer.

Knowledge is power!

Follow me: @kayondo