Africa has stepped into something very beautiful. What I like most is the introduction of krypton.
When I call ignorant people crypto, they call me a fraudster. There are people who consider buying and selling crypto to be a fraud. News like this will make people love crypto.
I think the biggest obstacle for blockchain to fully enter our lives is generation. The blockchain era will come exactly when the next generation fully hands over the management to our generation. Therefore, I think that the steps taken now are preparatory steps.
This was largely inevitable and had begun way back in Bitcoin's early days and then it really took off with the most recent military coup in 2017. This was buying and selling exclusively to transact blood resources and purchase dollars without having to go through KYC, AML, BIS oversight or share with other competing corrupt players overseeing the institutions of government.
Since Africa is the largest source of all kinds of blood resources in the hands of corrupt governments and elites, this has been going on for a while. It is just becoming more public because, as in El Salvador. And those governments are permitting legalization of crypto because they then cannot be accused of being the only ones who partake in corruption. Now anyone can sell the blood diamonds, blood cobalt, blood oil, etc. and not have to run it through the hands of the corrupt institutions who take their piece.
In short, this is democratizing corruption, not improving the society. Of course, to be able to do this, you still will need all the infrastructure, knowledge, and access. Which, naturally, is mostly affordable and available to the upper end of the economic pyramid. And is controlled by the folks who have always profited.
Well done, corrupt African governments and elites. You have really assured the worst outcomes or, at best, the permanent state of things.
This was largely inevitable and had begun way back in Bitcoin's early days and then it really took off with the most recent military coup in 2017. This was buying and selling exclusively to transact blood resources and purchase dollars without having to go through KYC, AML, BIS oversight or share with other competing corrupt players overseeing the institutions of government.
Since Africa is the largest source of all kinds of blood resources in the hands of corrupt governments and elites, this has been going on for a while. It is just becoming more public because, as in El Salvador. And those governments are permitting legalization of crypto because they then cannot be accused of being the only ones who partake in corruption. Now anyone can sell the blood diamonds, blood cobalt, blood oil, etc. and not have to run it through the hands of the corrupt institutions who take their piece.
In short, this is democratizing corruption, not improving the society. Of course, to be able to do this, you still will need all the infrastructure, knowledge, and access. Which, naturally, is mostly affordable and available to the upper end of the economic pyramid. And is controlled by the folks who have always profited.
Well done, corrupt African governments and elites. You have really assured the worst outcomes or, at best, the permanent state of things.
It's about time Africa starts to become a driving force in the future of crypto. Innovation and development comes from the places that need it the most.
A lot of business for these guys, I bet.
https://markets.businessinsider.com/news/currencies/south-african-brothers-billions-bitcoin-disapper-crypto-heist-2021-6
Africa has stepped into something very beautiful. What I like most is the introduction of krypton.
When I call ignorant people crypto, they call me a fraudster. There are people who consider buying and selling crypto to be a fraud. News like this will make people love crypto.
I think the biggest obstacle for blockchain to fully enter our lives is generation. The blockchain era will come exactly when the next generation fully hands over the management to our generation. Therefore, I think that the steps taken now are preparatory steps.
Thanks for the nice article.
In case you miss my general reply to this:
This was largely inevitable and had begun way back in Bitcoin's early days and then it really took off with the most recent military coup in 2017. This was buying and selling exclusively to transact blood resources and purchase dollars without having to go through KYC, AML, BIS oversight or share with other competing corrupt players overseeing the institutions of government.
Since Africa is the largest source of all kinds of blood resources in the hands of corrupt governments and elites, this has been going on for a while. It is just becoming more public because, as in El Salvador. And those governments are permitting legalization of crypto because they then cannot be accused of being the only ones who partake in corruption. Now anyone can sell the blood diamonds, blood cobalt, blood oil, etc. and not have to run it through the hands of the corrupt institutions who take their piece.
In short, this is democratizing corruption, not improving the society. Of course, to be able to do this, you still will need all the infrastructure, knowledge, and access. Which, naturally, is mostly affordable and available to the upper end of the economic pyramid. And is controlled by the folks who have always profited.
Well done, corrupt African governments and elites. You have really assured the worst outcomes or, at best, the permanent state of things.
Whoever owns the bitcoin will win.
This is especially the case for developing countries. For backward countries, it is a revolution. Whoever has the courage will win.
But there is fear. Fear of great country pressure. It will be solved in time, and they will be the winners.
Thanks for the article.
Have a nice day.
This was largely inevitable and had begun way back in Bitcoin's early days and then it really took off with the most recent military coup in 2017. This was buying and selling exclusively to transact blood resources and purchase dollars without having to go through KYC, AML, BIS oversight or share with other competing corrupt players overseeing the institutions of government.
Since Africa is the largest source of all kinds of blood resources in the hands of corrupt governments and elites, this has been going on for a while. It is just becoming more public because, as in El Salvador. And those governments are permitting legalization of crypto because they then cannot be accused of being the only ones who partake in corruption. Now anyone can sell the blood diamonds, blood cobalt, blood oil, etc. and not have to run it through the hands of the corrupt institutions who take their piece.
In short, this is democratizing corruption, not improving the society. Of course, to be able to do this, you still will need all the infrastructure, knowledge, and access. Which, naturally, is mostly affordable and available to the upper end of the economic pyramid. And is controlled by the folks who have always profited.
Well done, corrupt African governments and elites. You have really assured the worst outcomes or, at best, the permanent state of things.
It's about time Africa starts to become a driving force in the future of crypto. Innovation and development comes from the places that need it the most.