CoinGeek’s Becky Liggero spoke to nChain CEO Jimmy Nguyen while in Kigali, Rwanda, on Africa’s potential for adoption of Bitcoin Cash (BCH).
nChain CEO Jimmy Nguyen is confident that Bitcoin Cash (BCH) will be integrated more quickly in the lives of Africans.
“Our chief scientist Dr. Craig Wright and I have been on what I call the ‘Bitcoin Cash global tour.’ We are trying to spread the message of the power of Bitcoin Cash to everyone, and that includes developing territories, and next-generation countries like those in Africa, where we think Bitcoin Cash is going to be more massively adopted earlier than in Western countries,” he said.
Nguyen recounted how while in Seoul, South Korea, for the Deconomy Conference, “we got approached by one of the organizers of this conference in Kigali, who said, ‘Oh my goodness, I love your vision. Bitcoin Cash, you need to bring it to Africa where it’s so needed.’”
Those in less-developed areas need to deal with inhibitive transaction fees and processing requirements when using credit cards, ATMs and other traditional banking products, making it harder to save up. “We knew we had to get to places like Africa, Central-South America, the Philippines, where there is a great need for financial inclusion to help the unbanked populations of the world and to provide stronger financial systems that are possible with cryptocurrencies,” Nguyen said.
During the conference in Rwanda, Nguyen was encouraged by what he saw. “It is a workshop run by an organization called kLab, which is trying to kind of pre-incubate technology ventures, and what I learned today is Rwanda has a very young population. Most of the population is under 35, and so there’s a lot of young bright minds wanting to do new things particularly in technology, so it’s been great to try and talk about Bitcoin Cash with people who want to launch blockchain or cryptocurrency ventures, explain to them why we think Bitcoin Cash is the public blockchain to do it on,” he said.
If you’re interested in helping the growth of merchant adoption of Bitcoin BCH, join the bComm Association, an industry group that intends to be the focal point for miners, merchants, exchanges, developers and members of the BCH community. Developers and merchants of the Bitcoin BCH community will also be on hand for the first CoinGeek Week happening in London in November. Members of bComm Association can avail CoinGeek Week tickets at discounted prices. To purchase tickets or learn more about CoinGeek Week Conference, visit the official website here.