Is Cryptocurrency a Viable Virtual Currency for Africa?

When bitcoin entered the public’s eye for the first time in 2013, it was touted as one of the greatest inventions for the unbanked in Africa. The World Bank estimates that of the 2 billion people without access to the modern financial system, a third live in Sub-Saharan Africa. In recent months, bitcoin and cryptocurrency as whole have received much attention. Further, the underlying blockchain technology has gained mainstream acceptance. While the potential of such technology seems to be limitless, the question remains whether cryptocurrency is a viable solution for the unbanked in Sub-Saharan Africa.

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