“Bitcoin for Africa, by Africans” was the major theme at the Black Bitcoin developer offsite event. Held earlier this month in Lagos, Nigeria, And that theme, as well as the event, spoke of one of the continent’s greatest opportunities today, as well as the greater mission of the arts and how it is already achieving success.
Growing Opportunity Amidst Massive Challenge
It is imperative to note that the increasing acceptance of bitcoin in African countries such as Ghana, Nigeria, Togo, South Africa and the Central African Republic is linked to intensive bitcoin education programs organized by bitcoin-focused firms and stakeholders in these jurisdictions, such as Black, African Bitcoin. and a program to train Lightning Network developers.
Unlike a few years ago, when Africa as a continent was always thought to drag its feet in terms of adoption and acquittals of Fourth Industrial Revolution technologies, today the narrative is turning positive as it becomes clear. It is that Africa offers the best use cases for bitcoin as an innovation.
For example, a recent report by blockchain data platform Chainalysis showed that between July 2020 and June 2021, Africans received $105.6 billion worth of bitcoin and cryptocurrency payments – a decrease from a year earlier in the crypto market in Africa. increased by 1,200%. In Africa, the utility of bitcoin is not limited to the creation of generational wealth, but it also provides features such as enabling cross-border remittances, helping to counter inflation, as well as serving as a tool for social justice. cuts in.
Abukakar Noor Khalili, who is a Bitcoin Core contributor, has highlighted the need to leverage bitcoin infrastructure and layered infrastructure in building products focused on creating real-time solutions and addressing problems specific to different regions of Africa. There are various Western exchange platforms and products offering peer-to-peer bitcoin services in Africa, but not surprisingly, these products are not specifically developed and manufactured for Africans.
How Black Helps African Bitcoin Developers
Nigerian Entrepreneur in the Arts Program in Lagos Femi Lounge Told“Traditionally, African countries are consumers of products manufactured outside the continent. In this room, we are no longer consumers, we are producers. Bitcoin is the tool with which we manufacture.”
The bitcoin developer-focused gathering includes representatives, sponsors, speakers and representatives from nearly all bitcoin-only focused startups in Africa and beyond, such as Carla Kirk-Cohena board member of Beetrust, Tim Akimbo, a longtime bitcoiner and open-source enthusiast; Adam Jonas, Key member at Chaincode Labs; Bernard Parra, CEO of Bitnob; carelli criscoContent lead on Hello Bitcoins; Dele Joseph, Logistics Lead at Digiots, Oluwasegun Kosmani, CEO bottomcash, Noor Khalil; Femi Lounge, co-founder co-creation hub, and arts program director, Victor Asemota, along with the support of Built with the Bitcoin Foundationamong others.
The event made it clear that Africans are living to change the world and truly believe that bitcoin will fast-track that process. But it also acknowledged that challenges remain.
Seeing these challenges as opportunities to build, train and enable productivity in the African bitcoin ecosystem has fueled structures and initiatives around Black Africa. Eight months ago, Kala had recruited 12 Africans (Bamidel Oluwatobi, Colin Rukundo, Enigbe Ochekliye, Theophilus Issah, Olutobi Ademi, Peter Tyonem, Rafael Osaz Irene, Vladimir Fomin, Munirat Olayvola, Oladimeji Omotosho, Jennifer Izobi and Omoni). The goal is to train them to become builders on bitcoin’s second layer and test protocols such as Lightning, bitcoin’s testnet, and other frameworks, rather than just remaining consumers and users of bitcoin services.
Bernard Parra, Bitnob CEO who is one of the six organizers of the event tweeted His enthusiasm after three (Ochekliye, isah And tyonem) out of 12 graduates able to become Bitcoin and Lightning Network developers and product creators, and have held full-time roles Galloy.io, A payment solutions platform offering electricity as a retail payment system.
Based on these developments, Kala promises to keep this achievement by involving more developers interested in building bitcoin.
This is a guest post by Heritage Falodun. The opinions expressed are solely their own and do not necessarily reflect those of BTC Inc. or Bitcoin Magazine.