Cryptocurrency — Decentralized solution to devalued African currencies

getty imagesCryptocurrency has been in the headlines a lot lately but is still being ignored to the detriment of many nations. Bitcoin is a digital asset, driven by demand and supply, which is the ultimate means to an end. It has already become a world currency and might be the solution to inequality among nations.Most currencies are digital right now through the use of debit cards, credit cards, and online transactions. Think of cryptocurrencies in the same way. The main issue with African currencies is that they are mostly backed by oil or the economy of the country, which continues to fall. The dollar, being the reserve currency of these countries, is one of the reasons their national currencies will continue to lose value compared to the dollar. Cryptocurrency gives African countries an opportunity to be one of the first to use this technology to challenge the dollar and other “reserve currencies.”Let’s ignore the laser eyes and rockets for a moment to imagine an ecosystem of cryptocurrencies worth 100k times the dollar adopted by African countries. If you can think of it, it’s possible. El Salvador, becoming the first country to adopt Bitcoin as legal tender and IMF immediately warning them about it, is the confirmation that any country needs to follow suit. The IMF disguises its self as the free world and holds many nations hostage to its fiat money.Africa could be the first continent to adopt the Bitcoin standard now that renewable energy is here and the rush for crude oil has faded. This means, for example, 1 Nigerian Naira is equal to the value of 1 Bitcoin. The same will apply to every nation that adopts the Bitcoin standard. The end game would be equality among every nation that adopts the standard.For many years, African countries have…