While many wonder what would happen to the price of Bitcoin, very few investors think about where the next boom of the crypto would come from. It is not only the price that would determine the next step for Bitcoin, but also the developments that would come in due course.
According to Jack Dorsey, the next big thing for Bitcoin would come out in Africa. The CEO of Twitter recently took a trip to the oldest continent and shared that the future of the world (and especially of bitcoin) will be defined by Africa. The post said that Dorsey is planning to live in Africa for around 6 months in the middle of 2020.
The trip for Dorsey began on November 8 and he visited countries such as Ghana and Nigeria. The report about the trip comes from CNN. While Dorsey met with many entrepreneurs and artists, he also met with bitcoin developers in Ghana.
The problem in Africa is getting bitcoin to be more accessible for people and to be the functional currency of the continent. Africa faces numerous challenges when it comes to banking and financial connectivity within the borders, so bitcoin could be a solution to that problem.
Dorsey supports the idea that bitcoin needs to be more accessible for people and has shared with the Australian Financial Review that Square is hiring 5 engineers who will work solely on developing the cryptocurrency ecosystem. He also added that the internet will soon have a “native currency” and that Square will do whatever it taken to make that happen.
Earlier, during WEF 2019, a lot of discussions emerged about South Africa and its potential to be the next blockchain / bitcoin disruptor. As Leaprate reported, the primary reason for the potential: no built legacy systems in that part of the continent.