29 Aug '17, 2pm

Bitcoin boss urges cautious investment

Bitcoin boss urges cautious investment

Image copyright TED Image caption Bitcoin Foundation's Llew Claasen sees huge potential for crypto-currency in Africa The head of the Bitcoin Foundation, Llew Claasen, has urged people to invest "no more than they can afford" in the crypto-currency. He was speaking at the TEDGlobal conference in Tanzania about the potential for Bitcoin in Africa. Billions lack access to formal banking, but the uptake of mobile money means many are willing to embrace alternatives. Bitcoin had been adopted in Nigeria, South Africa and Kenya, he said. The digital currency had particular resonance in countries with volatile economies, he said. "It offers people a chance to protect their savings from government abuse of monetary policy. "A lot of people in Zimbabwe are interested in it as an alternative financial system, but that is not an easy thing to do formally as we don't want to be percei...

Full article: http://www.bbc.co.uk/news/technology-41080478

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