Luno co-founder and CEO Marcus Swanepoel expects huge cryptocurrency adoption in Africa, driven by its ability to deliver more efficient and cheaper methods of making payments. He believes this, and new markets in Europe and Asia, will drive Luno’s customer base to one billion within the next decade.
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We also have to thank the genius creators of MTI, to show the public what is possible with crypto.
The world is your oys.t….er, school fees.
14
Agreed. Unfortunate that there are so many crypto scams though.
The thing is crypto just cant be ignored anymore.
Tesla announced today a $1.5 Billion investment into Bitcoin and said they will accept Bitcoin and payment for their cars??
This must make the banks …. well feel very uncomfortable. Maybe nobody will notice and it will blow over.
I dont think it will.
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From what I have read about MTI, crypto was just the enticement to take money off people. It wasn’t a crypto scam. Just a good old South African ponzi scheme. Would you blame milk for the Kobus milk culture scam?
4
Africa’s great crypto awakening?
In a country where most of the continent don’t even have a bank account let alone internet?
Many African countries are extremely innovative when it comes to mobile banking and if the governments can’t manage things properly the people seem to.
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For Crypto you don’t need a bank account or internet…just a mobile service, which I suspect the vast majority do have.
You can’t do Crypto without a bank account. You need a bank account to transfer money to a Crypto wallet to buy Crypto. You also can’t withdraw Crypto or spend it in backward SA without selling it and converting it to local currency that will be transferred to…. Your local bank account
4
@MariusP…you are 3 years behind the times in Crypto.
Our Crypto Card wallets enable us to spend anywhere in the world & we can buy Crypto with our Gold or Silver (& soon Diamonds, Platinum, Palladium etc.) instead of ZAR; no bank account required.
Kenya has been using mobile cash for years and this is rapidly expanding onchain throughout Africa.
The world is changing fast. I think what the banks, governments, financial institutions, etc. should do is to identify ways to work with crypto and not try to stop it. It is too late and too much entrenched that it cannot be removed anymore. It is not a bad thing, but resisting it will certainly backfire.
I certainly wouldn’t want to be a shareholder in the Swift transfer system.
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