Bitcoin SV will change the lives of millions across Africa. This was the message echoed by three of the leading minds in the Bitcoin ecosystem at the recent Africa Tech Festival. Dr. Craig Wright, Jimmy Nguyen and Lorien Gamaroff all took the stage at the event to discuss how BSV will impact the African continent in the coming decade.
Bitcoin Association’s Founding President Jimmy Nguyen was the first to take the stage. Nguyen was a member of a panel that discussed the tech trends that will define the next decade for Africa. He talked about how Bitcoin SV is already impacting the lives of many, with South African wallet Centbee showing what’s possible with Bitcoin’s very low fees and instant transactions.
“We foresee a world for Africa where you have Bitcoin SV as not just a currency, but a ledger to send financial and data transactions,” Jimmy told the virtual audience.
Bitcoin SV will solve other challenges that plague Africa, he went on. They include corruption, with BSV’s auditability, verifiability and transparency allowing the people to monitor their public systems.
nChain’s chief scientist Dr. Craig Wright spoke on what sets Bitcoin SV apart, why stability and security are key for businesses building on Bitcoin and why Africa is well-positioned to benefit from Bitcoin.
“Bitcoin SV is my original version and it’s the only Bitcoin,” Dr. Wright told the audience, breaking down how all the other unstable protocols have deviated from the original vision set in the Bitcoin white paper.
Dr. Wright believes that Bitcoin will allow Africans to build new business models that can finally allow them to break from the shackles that have held them down for long. With BSV’s very low fees, African entrepreneurs can finally integrate finance into any system they are building. They can also build applications that allow users to own and monetize their data, especially in this era when data has become the new oil.
Rounding up the BSV community speakers was Lorien Gamaroff, the co-founder and CEO of popular BSV wallet Centbee. Gamaroff focused on Bitcoin for payments, a sector his company has excelled in. Centbee allows its users to spend BSV on day-to-day expenses such as buying airtime, paying for Uber rides and online subscriptions such as Netflix and Apple Music.
Gamaroff debunked the myth of Bitcoin being a safe haven asset, reminding the audience that Satoshi’s vision was for Bitcoin to be peer-to-peer electronic cash. Centbee has been working to make this vision a reality in Africa, offering the easiest onboarding ramps and allowing bank withdrawals and easy payments as well.
Gamaroff summed it up, “Without being able to spend your cash, there’s no point in having it.”
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