First Crypto Coin mined in Ghana

A Ghanaian total IT Solutions Company, Ghana Dot Com (GDC), has established a Bitcoin producing farm, thus adding several hundred Tera hashes per second capacity to the global Bitcoin producing pool.
A statement issued by GDC, and copied to the Ghana News Agency, said this was the first in Africa.

The first crypto coins were produced on February, 8, the statement said, and expressed the optimism that the year would be a good one in terms of technology for Africa.

Click here to read more


Subscribe to our newsletter

Paris, France – January 26, 2016 – Bitland has been named as one of the 10 most promising global innovations by Netexplo.

Bitland is an educational initiative based in Ghana that looks to help settle land disputes and fight corruption in development deals using blockchain technology.

The team has found twenty-eight communities across Ghana that have agreed to participate in the pilot project that aims to give the community members the ability to survey, register, sell, or purchase land through an application on a mobile device.

The platform that uses decentralized models in an attempt to solve the perennial problem of land title disputes in Africa.

This project is government approved and the participants who take part in it are doing so on a voluntary basis.

The firm aims to move to a decentralized system that has all its users download this application. By downloading it, it will give them more autonomy in verifying the registry.

This is a revolutionary technology that allows the government, organizations and individuals easy access to land title in secure and easy way.

In the current land system in most African countries, there exist backlog of land disputes in the continent. This fuels conflicts within the continent. It is envisaged that if fully adopted, bitland will ease the backlog of such land disputes in the continent.

The firm is a not for profit entity and this further acts to give it credibility and reliability before its users.

It is a land registry and title protocol that will be most effective in places where the land registry and title services are not functioning well.

By using this platform, the relevant communities will be peaceful as it will help solve land disputes in a fast and transparent manner. The communities can also use their properties to secure loans from financial institutions.

The application can also help these communities in other contracts like marriage, birth and death certificates and even wills.

The whole process involves surveying the community’s land, registering and titling it and finally turning it into a tradable instrument.

Bitland has confirmed that the software suite will utilize Factom software to track and record land titles.

Factom uses a special protocol to encrypt large amounts of data and store it directly on the Bitcoin Blockchain, the project aims to combine decentralization of data storage and government compliance as the Land Administration Project of Ghana will be overseeing the development.

You can learn more about the Bitland Project here: http://www.bitland.world/overview/

You can vote for Bitland to be the 2016 Netexplo winner here: https://www.netexplo.org/fr/veille/innovation/bitland

Contact Info: Chris Bates

Chief Security Officer, Bitland

[email protected]

(812) 202-6691

It is with great pleasure that we offer all libertarians and bitcoiners across the globe a great opportunity to become a valuable sponsor of “THE COMMON SENSE SHOW”. This show is going to be aired every Saturday evening on Metro fm, a well-liked radio station which engages over 600,000 listeners daily across Ashanti region of Ghana. This program is a radio Talk-Show which will scrutinize and analyse government of Ghana’s inefficiency in managing the economy as well as promoting liberty and bitcoin ideas in Ghana.

Common Sense Foundation has been in the mainstream media and Facebook for not less than three years promoting free market ideas and bitcoin. We are very sure that our experience and track records are enough to prove that we can effectively run this show.

We strongly believe that this show, when sponsored, will have a great impact due to the way it has been carefully designed to capture public attention and also challenge political and institutional leaders to work harder. The show is only one hour so we have strategically divided it into two halves. The first half is thirty minutes and will touch very important topical issues like corruption in public institutions and the weak monetary system that do not often receive maximum attention by the mainstream media. The other half promises to delve deeply into bitcoin and blockchain technology.

The uniqueness of this show is its luminous panellists. We will feature friends here in Ghana who are already promoting bitcoin, libertarians in Ghana as well as expert bitcoin speakers across the world to make this show a “talk-in-town”. The speakers from abroad will speak via skype while those in Ghana will sit in the studio with the host and offer live discussion. Phone lines would be opened to invite listeners to share their views and thoughts in order to make the show more interesting.

This would be a wonderful opportunity for any organization that will support us financially to have some visibility in front of over 600,000 listeners who would benefit and value the donor’s participation in bringing this project to life.

We invite any individual or organization that promotes bitcoin to be a partner with us in this pilot project. While this project promises to create a whole new ‘thinking box’ for listeners, it will also give donors the opportunity to enhance their visibility and brand across the country. Some of the benefits donor organizations may get if they choose to sponsor us either fully or partially are as follows:

With full sponsorship, the organization’s jingles will prominently be played on the show including Live Presenter Mentioning (LPM). That organization’s name will also be mentioned frequently as the show is going on in order to capture listeners’ attention. Lastly, the name and logo of the organization will be displayed regularly as a sponsor of this show on our Facebook page.

Partial sponsorship will attract packages like having your organization’s name and logo displayed on a banner, and playing your jingles in the course of the show.

The total cost of air time for a whole year is 5,100 dollars.Common Sense Foundation has already paid 1,000 dollars to the radio station. We would be very grateful if you support us to reduce the rest of the cost.

Your donation must go into this account: 1Hb4rTMFiEQK9M63rBTQAxPsvCp8DXFopm

For further information about the project, please email Kwaku Adusei anytime on [email protected]

To find out more go to MMMGLOBAL

It is with great honor that I will talk about the most controversial, but at the same time, the broader phenomenon that currently pervades the network, and I will do starting from the description of my position, that is “between a rock and a hard place “… and the ax: how nice!

To try to explain better, I just saw my MMM Global account upgraded to “guider”,  after ten days of the course, following which I got the respect and the support of the directors, who count on the attention and careness toward MMM, on my side. Of course, if I had not these emotions I would not had part in this experience, and it is very valuable. But here I bare these shoes and I proceed as the journalist, although I’m not very professional, but still inexperienced. Also I will try not to force with the terminology of the system when it is possible to get the concept more straight and clear otherwise.

On the other hand, I have to ensure that the article still remains interesting also for the opponents of MMM, as with satisfaction they themselves have told me had read the first article on the subject. So, like any journalist worth his salt (or try to earn respect), claiming to be fair, of course! … and even reveal the weaknesses of MMM, so they can continue to talk about it. Wanting to make a confrontation, it would be as if the mass media started to talk about Bitcoin, and should for the bad or the good, it would increase the popularity of Bitcoin and therefore its value, at least that’s the theory.

In treating this study, I would like to take this opportunity to spread a little basics of monetary theory, just let hope that the ax of the banking system is not thrown; not to me directly and not to towards the Bitcoin, and obviously, that would be stopped by MMM, or whoever. Maybe will be the same Bitcoin, who knows? Anyway the biggest weakness of MMM, as Bitcoin, remain the people. As shown so far with their inattention, indifference and disbelief as skepticism, all components that are a direct consequence of the fact that someone still has an interest in keeping us in ignorance about these issues.

This is the first basic notion of ​​monetary theory, the acceptability is the basis for the value of a currency, or econometric symbol. I can see your faces, that term just means nothing but, while on one hand we are giving value to this symbol – Bitcoin, €, $, … and also Mavro – accepting it in exchange for a good or service because we trust someone else will be willing to recognize its value at the time that – at our turn – we need a good or service, on the other hand these two moments the parties are involved in also determine the value that must be attached to it. I.e. they induce a value! And that’s why Professor Emeritus Giacinto Auriti, often called him “the induced value of money,” giving money the exclusivity of being a unit – which in this case is precisely the value of things – which also bring the feature to be the value of the measurement itself. There is an expression in use in Italy, which defines this mechanism, “chain letters” (maybe in other languages you will read pyramid but ​​does not fit so well)! Perhaps for many is hard to accept, but money is a chain letter.

Whereas the purpose of the money is, and acknowledged must be, to allow the redistribution of resources. If at this point let’s say that the only resources that are redistributed consist of more money, we can even hazard – a term that falls brush – this econometric symbol is nothing but a game. As an example, in a lottery our tickets are nothing more than notes or a symbol, that is precisely the serial number, which if it were to be successful, we are confident that we can change it with another symbol that only allows wider use – you can see that the ideas introduced so far are also able to give enlightenment on the inopinable truth that this exchange has the less desirable price you can find in circulation, and finally just because we are more and more less able to give value to a coin by ourselves. Well, actually, this article could be considered closed, having already explained what MMM is.

However, the occasion is tempting to point out some other ideas that need to be clarified, such as the trivial question of, why we should give confidence to Bitcoin instead of Mavro, or the dollar and in the same way to any other fiat currency – in Latin, fiat: “which is done” or becomes. Meanwhile, to have to work with a fiat currency means to create conditions acting straight on this acceptability we are talking about. Although it is universally accepted because we are required by law – but not yet imposed to us to exclude the others since discretion is given to opt in accepting an alternative one – we are however witnessing a steady loss of purchasing power, or value of money. We all know how this measure of value has changed with the euro since its debut, decreasing its value. Same as with US dollar from the debut of the Federal Reserve. Something that has not happened with Bitcoin, which indeed has been awarded for another year with the title of best currency to maintain this purchasing power. Let me forget for a moment about the incredible performance of Mavro in MMM Global, to return to the aspect of obligation that is even more interesting because the issue relates to the attribution of ownership of the coin at the moment of creation.

We wonder, “where does and how far they push this imposition?”  Well, by now giving famously established that fiat currencies are issued by private entities with misleading names that recall to the res-publica, we can understand that the issue of money by debt began when rulers and monarchs faced with having to cede sovereignty on the domestic money for the acceptance of a foreign one, which in turn had greater acceptance and purchasing power. And to analyze the historical circumstances, often the determining factors were almost always wars and conflicts. In fact coincidently one consequence of the “chain letter” is that you can not have two chains simultaneously, or to put it in biblical terms “cannot serve two masters” without let that one takes more value than the other . That’s why the United States must constantly strive to expand and impose the dollar, whose value is now on its last legs. Staying with the officials news, the same is true of the euro, that contrary of the will of the people, it is still borrowed to Greece and by that brazenly rob their resources. This is a direct result of the fact that the rules of the game – in the same terms we were referring to game earlier – determine the rightful owner of the money in the banker, which was able to influence the free will of the ruler, which in turn had to ask for more loans,  also being aware that this time the redistribution would define a flow of resources converging

in the hands of a few people, the so-called global elite. Therefore we can conclude that if our rulers are not corrupted as they inherit a factual situation, they will leave at least easily corrupt.

In the case of Bitcoin instead, Satoshi Nakamoto found that the properties of the currency issued was recognized to those participating in the mining, meanwhile they do not acquired any debt and a more or less with a uniform decentralization of allocation in the Internet even rewarding more the first to have aroused interest in this encryption-based technology, and then following in time the model of gold mining with respect to the amount to be allocated. In essence, a root function and as amazingly it took into account that the number of transactions have been as major as the number of new bitcoin decreases, so that the network could continue to pay the miners while commissions are low. Given the nature of Bitcoin, that the only challenge is to simply continue to exist while blockchain – the Bitcoin’s database of transactions – has consistency, then this choice of the creator seems obvious, in fact the only possible, as long as someone can not imagine another as a consequence of a needed case. And that’s what subsequently did some criptomonedas, seeing that many users keep their bitcoins like a hot potato – whereas we should stay fighting to save a few for us – and having therefore plans to promote their creation through the issue of new money for those who simply kept some of it in your wallet, paying the classic interest.

If we look at MMM now, will be clear how can be paid such high interest rates, having staked everything on the marketing of which such interest are also part. Acceptability is promoted by advertising and purchasing power rises accordingly. But since the value of a mavro is fixed at one to one correspondence with the US dollar, the system constantly needs to assign new Mavro, or aid in dollars. Meaning that is attracting resources and distributes them, since all transfers are conducted exclusively between the participants through Bitcoin. The restriction on the use of Mavro to the purchase and sale, also prevents any other activity can take advantage of user acceptability through the mechanism of fractional reserve, which may be the exchanges, the electronic payment systems and banks …! There can be no banks for Mavro, but MMM is presented as an alternative to the traditional financial system, with the aim of providing the resources necessary to free people from economic necessity. And though it may seem utopian, it is constantly doing this, assuming that the MMM participant is at first asked to agree in the use of just spare money, creating a play of solidarity. Admittedly overcoming obstacles and difficulties, attempt after attempt, illusions and disillusions, with 20 years of continuous restructuring and refinement of the original MMM, to finally conceive MMM Global that found in social networks and in Bitcoin ideal partners to impose themselves and mark the border with the world of old-fashioned banks.

spare money

Returning to the promotion in MMM, we see that the strategy is like the classic donkey with a carrot and this is the point that my thoughts may be nearest the point of view that opponents of MMM have, which instead of feeling the creator of MMM as a genius, think that his success is due to imprudence, to say the least, of the participants. Unfortunately, from this point of view I suggest you evaluate your position in relation to the figure of the donkey, and do worry because even stimulated with the carrot do not activate. By this I do not dare to raise Sergey Mavrodi and staff of MMM to divine levels, and almost certainly is a right decision, but I’m say that in terms of advertising necessary to achieve the desired goal – freedom from financial bondage – MMM has already earned a nice boost, and which is currently the only winning horse we have in the fight between currencies. And it is thanks to this impulse as the purchasing power of mavros in MMM Global double each month and we see it on the issue of new mavros through the accruing interests of the participants who have contributed to extend the network, and so to increase its acceptance, and in turn hitting the target. Despite the rules requiring exponential growth remain valid, the mavro is increasingly accepted, because it exploits the idea that, in fact, the US dollar is pure waste paper, and pursuing exploitation as we have described in the above article, and for that the notice that reigns high in the  participant’s Control Panel (Personal Office), more than anything else becomes a constant invitation to reflection and to consider that you could be deprived of this money in any moment and give of it as much you can! The $ 10,000 limit each participant may have deposited to earn interests, shortly can not really be all that money and we also know that in Russia, MMM was becoming a threat to the Ruble, while government agencies were forced to stop the same Sergey Mavrodi.

However, I think that education is needed to not be greedy within the network of the participants, especially through the rebuttal and isolation from the wasteful and even contradictory  practice of accumulation of what MMM distributed in their bank accounts. It can be possible to act intelligently without falling into the contradiction that undermines the entire ideology and work. Among the many bitcoiner, for example, they can be counted on the fingers those who keep their savings outside an exchange. But here, if you do not have to be in Mavro, which is at least in Bitcoin. The important thing is to show the courage!
Hoping to confront the reality of things … and isn’t so beautiful!

Cosimo Guglielmucci: Cosimo is with Newsbtc Italy and the author of this artcle

 

The global remittance network is ripe for disruption and a single look at the idea and purpose behind bitcoin and block chain technology can easily suggest that international money transfer giants will be the first group of enterprises to be hardest hit and disrupted followed by banks and finance houses. These organisations will be disrupted and for right reasons because profits and excessive commission charges have always been on the frontline and preceded their activities and not much innovation has happened on their end in a long time. In the meantime technology and telecommunication companies are innovating in ways through which customers can send and receive money locally without hustle and forward those monies as payments to other service providers such as electricity, water and cable television companies and to other mobile users. Customers of telecommunication companies are also able to send money to their loved ones and dependants via the same platform.

For some reason, innovation that has to do with quickly and conveniently getting customers to receive money anywhere they are either via their mobile phones or emails have flown over the heads of international money transfer operators. They do not see any other ways recipients can access their monies other than going to a partner bank branch. Instead of partnering with tech and telecommunication companies who get to the core and grassroots by simplifying payment processes for customers, International Money Transfer operators are ready to stand on their own and reek in the profits. Yet technology such as bitcoin has proven to be tried and tested, and in that regard money can be transferred at a cheaper and convenient rate. On the continent of Africa, bitcoin remittance platform has been smart and have taken the innovative lead to partner with local telecoms companies rather than banks to make cash accessible to a wide range of people within a longer time range. International money transfer operators on the other hand will rather partner with banks and it is easy to see why their method will not last. For one, banks are not accessible in every part of the African continent. Also not all banks liaise with international money transfer operators, micro finance houses which usually can be found in remote parts of various African countries are not on the radar of most international money transfer firms. Therefore customers who receive money via this channel will have to travel to the city to carry out the transaction.

A standard bank carries out other functions apart from money transfer, there are other operations such as payments and receiving of deposits which can be classified as their core business, there is forex, bonds and treasuries trade as well as a thousand and one other functions therefore the possibility of joining long queue which can lead to the loss of productive time cannot be over emphasized. There is the dreaded “our system is down” excuse they give ever so often. Which is to suggest that, customers will have to leave and come back another time. Compare this to simple innovations bitcoin remittance platforms in Africa are churning out and one will see that bitcoin remittance platforms are clearly ready to take over. Bitcoin remittance have been clever for partnering with technology and telecommunications companies to make receiving payments easier and faster. In so doing, they have created a more efficient African payment ecosystems to ease time wasted when using the traditional international money transfer agencies. For example, customers who use bitcoin remittance platform receive messages either via phone in the form of text messages or via email. In that regard customers can conveniently plan their schedules and choose when to go for their monies.

It has often been cited that a poor saving culture, results in slower growth and development. One way we as Africans can increase development is by increasing our rates of savings and reinvest the monies we keep us savings. The current banking systems that exist do not encourage savings and money transfer agencies make this phenomenon worse. When receiving money from international money transfer agencies, it is insisted that all the money is withdrawn without avenues for saving some of such remittances.

Meanwhile it is known that, it is quite tempting to spend cash in possession and less tempting when one consciously decides to save some for future gain. In this regard, bitcoin remittance platform are a step further when compared to international money transfer, this is because recipients of bitcoin from their loved one can decide to send only a portion to the exchange for fiat unlike the regular system where customers are ‘forced’ to withdraw all the money sent to them. The relative stability and increased use of bitcoin makes it an attractive investment and a perfectly acceptable savings option. It must also be noted that, telecommunication companies who liaise with bitcoin remittance operators also gives customers the option to reserve some of the cash into their mobile money accounts. Customers of traditional international money transfer are penalized if they do not withdraw the money by remitting the money back to its sender without the commissions being paid back. Bitcoin remittance users on the other hand, can hold their remittance in bitcoin for as long as they desire.

The greatest argument for bitcoin remittance for us Africans is customers’ ability to save, and savings play a key role in building and developing wealth. Bitcoin remittance is building a new Africa, an Africa powered by savings, investment and an increased capital flow.

Kwaku Abedi

Kwaku Abedi is a freelance writer/editor based in Accra-Ghana. He has an interest in bitcoin and writes on bitcoin integration in Africa.


May the happiness and good cheer
Of the holiday season be yours
throughout the New Year.
www.newsbtcafrica.com
[email protected]

a

 Appeal for funds

Dream Bitcoin Foundation, one of the leading bitcoin related foundations based in Ghana is embarking on a fundraising drive to raise some money to put together a nice meal for the aged and young who live on the streets. People living on the streets also deserve the kindness, love and good cheer that comes with the holidays and Christmas in general. In this season of love and abundance, we call on the esteemed bitcoin community to bring smiles and joy to the faces of these homeless kids and adults by donating to the Dream Foundation Holiday Fund.

kidnet  b

The Dream Bitcoin Foundation, has started a fund christened Dream Bitcoin Foundation Holiday Fund purposely to spread the joy and good tiding that comes with the holiday. In sharing the best of what we have with our family, friends and loved ones, let us not forget the poor, needy and often abandoned members of our various societies. Your generous contributions and donations will help the team donate freshly cooked meals and other items such as soap, washing powder, towels and other basic items that the homeless are in need of.

We are hoping to raise a minimum of $1000 or more for this project. Half of the monies donated will go into preparing freshly cooked meals for them during the holiday period whiles the other half will go into purchasing much needed toiletries and provisions such as treated insecticide mosquito net for them.

On our part, we the team at the Dream Bitcoin Foundation just like our core mandate which is to educate the need and importance of bitcoin especially on the African continent shall continue to support the ones in need and perpetuate the ease, reliability and opportunities bitcoin brings in building a better and prosperous Africa.

Share the love this holiday season. Donate to the Dream Bitcoin Foundation Holiday Fund and all the joy and happiness you share with the homeless, poor and needy, you shall receive a hundredth fold.

provisions

Counting on your support

You can donate to the multi signature bitcoin wallet address below

3LT6X6w7P4qgahbsFNiPojoF8fGoCqBx2m

Signed

Kwaku Abedi                                Rashid Osei

Dream Bitcoin Foundation (Vice President)       

Dream Bitcoin Foundation (Treasurer)

 

Late this year, there was a program in Nairobi Kenya organized by one of the leading investment firms in the continent. The aim of the program was to allow entrepreneurs in agribusiness to pitch before investors the solutions they may have for assisting small scale farmers in the continent.

This presented a great platform for firms in the tech industry to pitch their ideas to investors who were willing to fund them. It saw firms like Mifugo trade, an online livestock marketing platform, battle it out with Atikus insurance, an insurance firm targeted at small-scale farmers, and Farmer line, an information portal for farmers.

In Africa, agriculture reigns. In most African countries like Kenya, Uganda and Ethiopia, agriculture contributes more than 40% of the GDP. However, you will find that majority of farmers especially in rural areas, lack access to finance and information. Statistics show that less than 1% of total loans disbursed is given to small holder farmers in Africa. The main reason why Agriculture in Africa is underdeveloped is due to lack of collaboration between the government and the private sector. Public policy experts have argued that creating synergistic relationships between governments and the private sector will see more opportunities emerge that would drive growth in the agricultural industry. This will benefit small scale farmers in the continent.

Access to market is a key impediment for growth in the continent. Experts have argued that providing access to markets through opening up corridors, information and financial services will greatly boost food security in the continent.

A good case study of this was in Peru where access to markets was opened and as a result this led to a flowering of opportunities for the local small holder farmers. In Africa, little is being done to spearhead such programs, even though there exist sufficient market research to back its viability. Countries like Mozambique have started implementing programs aimed at boosting food security. Experts agree that implementing such programs is hard work. A country will need the input of all stakeholders across the chain so as to make these initiatives successful. That is why it is important that all stakeholders are actively involved in boosting food security within the continent.

A report by the Food and Agriculture Organizations (FAO) says that when leveraging on such corridors, government should focus on areas with untapped potential so as to receive value for their investments. There isn’t a panacea for success that can be replicated across all countries. What African governments can focus on is to look at how they can optimize on already existing solutions to fit into at their local economies. Opening such markets will provide better opportunities for farmers to be linked to other farmers, markets, credit, information and investments. The whole aim to expand markets and doing so in a way that would benefit smallholder farmers. Governments across Africa have an important role to play in all these. Their key role is to provide the right policy environment that would facilitate the speedy implementation of market opening initiatives. One expert notes”The central aim of government is to provide an enabling environment. Investments are happening across Africa with or without the intervention of the government. But where governments are actively involved, substantial developments are made towards empowering small holder farmers.”

All these present opportunities for companies in the bitcoin industry to leverage on. Crowd funding startups targeted at farmers can play a major role in providing access to capital to the small holder farmers across the continent. Making transactions using bitcoins will definitely deepen financial penetration across these areas. This will also open new markets for their products. All these present a win-win-win situation for the governments, the small holder farmers and the business enterprises.

Africa has for long suffered the malady of being hindered access to markets .Such initiatives would play a key role in enabling inter regional cooperation and drive economic growth within the continent.

 

About the writer

Barbra Taragon

Barbra is a bitcoin evangelist from Kenya

The Bitland Non-Profit Project is organized for educational and charitable purposes, providing educational programs and services to facilitate and promote land title registration, private property ownership, and general prosperity through markets and strong property rights. The organization has been building the team over the past year under my leadership and while the current team is making connections locally in Ghana, the company looks to have their services available globally within five years. With a combination of remote workers and key partnerships. Bitland is looking to assist developing countries in solving land disputes in areas that are currently beyond their reach with a network of Ambassadors who are cordial self-starters who bring people together through meetups and organizations designed to discuss, challenge existing structures and solving political and economic problems.

Since Bitland began operations in November 2014, we have by far educated 28 communities in the Ashanti and Brong Ahafo region with the help of land administrators and campus coordinators about the importance of securing land titles using the blockchain technology and now we are going nationwide. The organization is soon starting a road-show in all the ten regions of Ghana to educate people about Bitland title documentation and the blockchain technology.

We will also be taking field exercises recording lands in our database digitally time stamped on the blockchain and encrypted with pretty good passwords. These land records will include the gps coordinates to the land marks of each property that can be seen by anyone online. This road show is designed and organized by Bitland to meet the necessary funding to expand our operations by establishing a purpose-built service center that will further assist our capacity to develop the skills, educate, counsel and provide land title solutions to the people in Ghana that will help us grow by incorporation. Support us so together we can help build infrastructure in developing countries to potentially unlock billions of dollars in untapped property rights.

Follow us:

Facebook  Twitter

Narigamba Mwinsuubo Founder and CEO, Bitland www.bitlandglobal.com


The knowledge and increased usage in bitcoin and block chain technology on the African continent can only lead to the creation of more businesses surrounding this key cryptocurrency which has properties of technology, commodity and currency. It is therefore little surprise that Africans on the continent and in the diaspora are building startups around bitcoin that will solve the many challenges plaguing the continent caused by the financial sector. Startups that achieve success are the ones that solve a specific human need and these bitcoin related startups are solving some of the basic needs of the African, needs that have been largely ignored by the financial services sector. Bitcoin startups are being created to solve basic African problems and are changing the way we view money and finance. They prove that money doesn’t necessarily have to be in the form of notes and coins which we have to carry in our purses and pockets everyday but money can exist on technological devices we interface with almost all the time.

Cynthia Walubengo, one of the writers at newbtcafrica.com posted a great article on some African startups doing well on the continent. Some of the startups listed in the article include BitPesa, Disrupthub, Bitsoko and the African Bitcoin Center (ABC). The success of these burgeoning startups stresses home the need for an African bitcoin ecosystem. Underlining the main reasons why these startups exist is a desire to see to the further usage and awareness of bitcoin on the continent. The desire and increased usage of bitcoin will spawn another tier of startups in virtually every sector under the sun. From bitcoin enabled agricultural financing to incorporating bitcoin payments in healthcare, social services and entertainment. The promise that bitcoin brings to its users mean there is a piece of bitcoin startup pie for every entrepreneur who wants to use bitcoin to revolutionise and re-invent the sector they find themselves in. A great African bitcoin economy cannot come into fruition without the players putting up a formidable and harmonious front. That is why there is a need for an African bitcoin ecosystem where any startup that wants to use bitcoin as a springboard for growth is not left behind. An entity like the African Bitcoin Center (ABC) provides a solid platform that can help harmonise all efforts of bitcoin startups within the continent. The key aim of ABC as an agency is to help in providing the necessary capacity that will catapult bitcoin startups within the continent to the next level. ABC provides solid support to the network of startups that join the network. The support can come in the form of equity funding or grants that other entrepreneurs that have different or new ambitions can use to develop their startups.

The center also serve as a focus group for startups, new ideas have to be tested with a focus or control group to determine customer experiences and feedback. Such feedback and responses are imperative because if new ideas/products are not tested to receive favourable response before being rolled out, the business stands a chance of losing revenue and market share. ABC exists to provide such services to startups in the network at little or no extra cost. One key value that such a network also provides is the different perspective and divergent views members in the community bring to the table. In that regard, startups are able to realise that there is no one single solution in solving a problem. Fresh perspectives and pointers on how to do things differently are always good for any fledging business. The centre also makes it easier for individuals already in the network find partners and raise capital when they want to embark on new projects and startups. A centre like ABC will provide innumerable value to businesses in the network, especially at a time where doing business in Africa is largely considered as challenging. Activities of an ecosystem that is being created by ABC also have a larger impact on society than that of an individual business.

Silicon Valley has been hailed as an ideal and sustainable ecosystem in the world of technology and innovation. Some of the world largest internet and technology focused companies can be found in the Silicon Valley tech ecosystem with Facebook, Google and Apple being the most prominent. These top three firms together employs thousands of people. There are hundreds of firms in Silicon Valley that provides employment and generate revenue for their businesses and income for families. The impact that Silicon Valley technology has on our lives can be felt everyday around us. We do not think twice about using google when deciding to research a topic we know nothing about. Likewise, it is highly probable we will check out a new acquaintance on Facebook and possibly ‘friend’ them there as well. The impact of Silicon Valley also has far-reaching consequences in education, health care, entertainment and our general quality of life.

The ecosystem being developed by ABC does not necessarily have to be physical, it can be virtual and yet still have the same impact that startups who have consciously gathered at a place to support each other can have. Improvement and increased usage in technology infrastructure has enabled Africans form social acquaintances with each other and social networking exist for us to take our collaboration to great heights, this is now the time for us to elevate the acquaintances into serious business partnerships which will foster new business ideas, projects and programs which will be beneficial to the people of Africa. A careful study of technology and bitcoin driven startups that are innovating and making waves in Africa will show that they are emanating from South Africa, Kenya and Nigeria. There are other countries such as Ghana, Namibia, Uganda and Botswana that are also fast rising in the technology and startup game but not at the scale of the top three countries previously listed. Networking and greater corporation amongst tech startups in these countries can lead to the spread of awareness regarding startups in these countries. The experience-sharing and knowledge that can be gleaned by being a member of a reliable network of startups is incalculable and the value is immense. Ecosystems are important and ABC is on course in filling that need for the African bitcoin entrepreneur.

KwakuAbedi

KwakuAbedi is a freelance writer/editor based in Accra-Ghana. He has an interest in bitcoin and writes on bitcoin integration in Africa.