The Impact of cryptocurrencies in West Africa

Cryptocurrencies started gaining momentum in West Africa in 2013, when bitcoin was becoming more popular globally.

Though bitcoin came out in 2009, it didn't really gain acceptance in this part of the world till 4-5 years later when some people began to understand the concept of the blochain.

The idea of a decentralized system where currencies were neither backed nor controlled by governments or corporations. A currency that is by the people and for the people.

Fast-forward a few years later, steemit came along. Nigerians couldn't believe that there could be a platform where people are curated for writing quality contents.

Now, the use of cryptocurrencies have affected the lives of so many positively. They no longer have to go to the banks to send money to those abroad, they could easily send sbd or bitcoin or any other cryptocurrencies and itll be done in seconds.

In the coming year, we'll be expecting to see a greater acceptance of the blockchain technology globally and maybe a single decentralized currency not backed or taxed by any government.