13 Apr '15, 11am

How Bitcoin could revolutionize remittance in Africa via @thenextweb @tomjackson1988

A host of local companies are looking to disrupt the remittance market in Africa by undercutting traditional money transfer operators while also offering businesses new ways of accepting payments on a continent with low credit card penetration and an over-reliance on cash. The likes of Igot , Beam , BitPesa and BitX have spotted an opportunity to build Bitcoin businesses in Africa. Though stolen bitcoins, the collapse of the Mt.Gox exchange and drastic digital currency value fluctuations have made Bitcoin a byword for controversy in much of the Western world, they feel it can find a true home in Africa, the land of mobile money. The problem they are looking to fix is a big one, though the opportunity is also enormous. Remittances to and within Africa are big business. There are more than 30 million Africans living in the diaspora, sending home US$40 billion per year, an am...

Full article: http://thenextweb.com/africa/2015/04/13/how-bitcoin-could...

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How Bitcoin could revolutionize remittance in Africa

How Bitcoin could revolutionize remittance in A...

thenextweb.com 13 Apr '15, 11am

A host of local companies are looking to disrupt the remittance market in Africa by undercutting traditional money transfe...

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