W o r l d . C r y p t o . G l o b a l

Loading

Welcome at World Crypto Global. This portal is packed with useful content and resources to built out your own crypto skills. WorldCrypto is a site member of Gabriel Vega Network.

Contact Info

CATEGORY: ethiopia


 3AC wallet buys NFT with 3-year-old offer, zkSync denies insider minting claims: Nifty Newsletter

Author: Cointelegraph by Ezra Reguerra
United States
Jul 11, 2024 12:00

3AC wallet buys NFT with 3-year-old offer, zkSync denies insider minting claims: Nifty Newsletter

A wallet owned by the bankrupt hedge fund Three Arrows Capital purchased an NFT via a three-year-old offer.

 Ethiopia takes first step toward CBDC in economic reform

Author: Cointelegraph by Derek Andersen
United States
Jun 18, 2024 12:00

Ethiopia takes first step toward CBDC in economic reform

The country plans to have a legal framework and regulatory sandbox in place for CBDC introduction as necessary.

Mar 07, 2024 01:25

5 Ways Bitcoin Mining Benefits Ethiopia

Expansion of Bitcoin mining in Ethiopia offers a route to monetizing a coming massive increase of energy production, and help finance the build out of electrical grid infrastructure.

Aug 05, 2022 09:22

Bitcoin Education Is A Way Out Of Globalist Oppression For Ethiopia

True to their history as an uncolonized people, Ethiopians are more determined than ever to build sovereign value through principled education and civic action.

Jun 08, 2022 01:25

How Can The Bitcoin Community Help Bring An End To The War In Ethiopia?

Bitcoin’s attributes leave it well-positioned to help facilitate an end to a genocidal war in Ethiopia.

What Factors Are Driving The Bitcoin Remittance Revolution In Africa? These Ones

Author: Eduardo Próspero
United Kingdom
Feb 10, 2022 08:30

What Factors Are Driving The Bitcoin Remittance Revolution In Africa? These Ones

The Bitcoin remittance business is blowing up all over the world. South African financial website moneyweb brings us the report directly from the oldest continent. The conditions that led to El Salvador making Bitcoin legal tender are present all over Africa. The people are unbanked but everybody has mobile phones. Plus, the diaspora is huge and sends money home constantly while big companies rob them blind with high fees.  Related Reading | Is Largely Unbanked Africa Primed for Bitcoin Adoption? “The African continent has many opportunities for widespread Bitcoin adoption. One of those opportunities is remittance fueled by Africa’s growing ~mobile~ population. There are over 30 million Africans living outside their countries of origin. Since 2012, the African Union considers the African diaspora the sixth Africa’s region.” On one hand, “countries such as South Africa, Nigeria, and Kenya” want to regulate bitcoin and other cryptocurrencies. On the other, “According to the World Bank Global Findex, 60% of the population” in the continent are unbanked. The recipe is there. And Bitcoin remittances might be the use case to bring mass adoption to Africa. Remittance Revolution, Factor 1. Mobile Wallets Not only is the mobile population growing, but the whole continent also has ample experience with other forms of “mobile money.” It’s a concept already entrenched in the culture: “Africa is the global leader in mobile money usage. Sub-Saharan Africa has the fastest growing mobile money industry in the world. The region will continue to see substantial growth in the number of people owning mobile phones. Mobile subscribers in Sub-Saharan Africa are projected to reach 623 million by 2025, half of the continent’s population. The figure will be even higher because of mobile phone sharing culture.” From there to using Bitcoin, the most efficient money network in the world, it’s just a step. The road is clear. Factor 2. Government Policies Inadvertently, governments all over the African continent are pushing Bitcoin adoption with their restrictive policies. For example “In 2020, the Central Bank of Nigeria suspended international mobile money transfers to Nigeria. The suspension came after the banking regulator allowed US dollar payouts for international remittances in the country.” And that “means that only Nigerians with a bank account will be able to receive money from abroad. Not all international money transfer services to Nigeria support cash payout.” Everyone underestimates the rate of #Bitcoin adoption in Nigeria, it will be a major religion soon. — Bernard ‘berlin’ Parah ?? (@bernard_parah) February 5, 2022 What have the Nigerians done? Turn to Bitcoin remittances, of course. Another example: “In Zimbabwe, several restrictive monetary policies have led to the growing interest and use of bitcoin for remittances. First, the government banned all foreign currencies such as the US dollar, Euro, South Africa rand, and others. The government also placed restrictions on mobile money services, as well as daily withdrawal limits because of severe fiat currency shortages. To bypass these restrictive policies by the central bank, a growing number of Zimbabweans prefer bitcoin remittances to fiat money.” Remittance Revolution, Factor 3. Weak Currency This factor wasn’t present in El Salvador, which is a dollarized country. However, in Africa, there are several “countries that experience double-digit inflation such as Zambia, Zimbabwe, Nigeria, Sudan, South Sudan, Ethiopia, Liberia, and Sierra Leone.” For example: “The Guinean franc is one of the world’s weakest currencies as we launch into 2022. In 2020/21, the Zambian kwacha and Zimbabwe’s dollar were one of the worst performing currencies in the world. The Nigerian naira has lost more than 50% of its value since 2015. The Central Bank of Nigeria devalued the naira thrice in 2019. In May 2021, the central bank devalued the naira by 7.6%.” What have the Nigerians done? Adopt Bitcoin remittances. What will the other countries do? Adopt Bitcoin remittances, also. Who said Kenyans don't own #Bitcoin.. Kenya Ranks 2nd in Africa in P2P settlement, overtaking South Africa ??.#cryptocurrencyKE ????#africarising ?? pic.twitter.com/fg8Ivj3mQA — CRYPTOCURRENCY KENYA ???? (@CryptoHubKE) February 8, 2022 Factor 4. Transfer Fees And Speed The remittance fees were a prominent factor in the El Salvador story. And in Africa, the story repeats itself: “A study by the World Bank shows that transfer fees to Sub-Saharan Africa, the poorest region in the world, are the highest in the entire world. The cost of sending $200 to Sub-Saharan Africa towards the end of 2020 was 8.2% on average. Sending money within Africa is even more expensive.” What will the whole Sub-Saharan Africa do? I could wait another 25 years for the ANC to do good on their promises to fix some of historical injustice in South Africa, or I can take control of my own life and buy #bitcoin now. — Tensai Bankai?? (@tensaibankai) February 8, 2022 Remittance Revolution, Factor 5. Education This is a positive one, for a change. According to BTrust’s Abubakar Nur Khalil, in a recent article for Bitcoin Magazine: “Africa is home to more than a thousand indigenous languages, with non-English speaking countries. The majority of Bitcoin material available is in the English language, which means we must also engage in translation efforts to unlock knowledge for millions of non-English speakers on the continent, both on the developer and user front. Currently, there are efforts around Africa to translate Bitcoin material into different languages such as Amharic, Arabic and Wolof by Kal Kassa, Arabic_HODL and Fodé Diop, respectively, with ongoing work on others.” Related Reading | South African Man Loses $900,000 Worth Of Bitcoin After Accidentally Deleting Keys And we also have to mention Exonumia, who is “creating open source African language translations for Bitcoin literature through community.” And, of course, the BTrust. The organization created and financed by Jay-Z and Jack Dorsey is on a mission to promote Bitcoin development in Africa and India. One of its board of directors members, Abubakar Nur Khalil, recently spoke to Bloomberg Technology about the initiative. Meet one of the board members of Jay-Z’s and Jack Dorsey’s blind Bitcoin trust: Recursive Capital CEO Abubakar Nur Khalil in Nigeria. He tells @sonalibasak how he envisions web3 in Africa https://t.co/IdyBB7wTvb pic.twitter.com/eFKEga4Nbg — Bloomberg Technology (@technology) February 4, 2022 Conclusions And The Market There are negative factors that affect Bitcoin positively, like high fees, weak currencies, and worse government policies.  And there are positive ones, like high mobile adoption and available education. The mix might form a perfect storm for Bitcoin adoption in Africa. And the Bitcoin remittances revolution is leading the way. BTC price chart for 02/10/2022 on Bitstamp| Source: BTC/USD on TradingView.com After a recent surge of sorts, Bitcoin has been trading horizontally for the last few days. Featured Image by James Wiseman on Unsplash | Charts by TradingView

Jan 18, 2022 06:10

Suppressed By World Superpowers, Ethiopia Should Turn To Bitcoin

As the U.S. removes Ethiopia from a critical trade program, it’s clear that the African nation should focus on finding sovereign value.

Is Hyperinflation Inevitable? Jack Dorsey Says It’ll “Change Everything”

Author: Eduardo Próspero
United Kingdom
Oct 24, 2021 12:15

Is Hyperinflation Inevitable? Jack Dorsey Says It’ll “Change Everything”

When Square’s boss Jack Dorsey talks about hyperinflation, the world listens. And Twitter reacts. Since so-called developed economies are now feeling the pain that inflation brings, the concept is in everyone’s mind. Every human has a front-row seat to witness the consequences of the United State’s relentless money printing. And, since the Dollar is still the reserve currency of the world,  they’re all feeling it too. Related Reading | Bullish For Bitcoin: US Inflation Expectation Breaks Out From Decade Long Downtrend This is Jack Dorsey’s tweet: Hyperinflation is going to change everything. It’s happening. — jack?? (@jack) October 23, 2021 As you can see, he doesn’t merely talk about inflation. He goes for “hyperinflation,” which caused adverse reactions in the replies and the quoted tweets. They accused him of fear-mongering and quoted official numbers at him. And the nay-sayers probably have a point here, because the US is far removed from the reality that word implies. However, one thing’s for sure: money printer goes brrrrrrrr… and it hasn’t stopped working since Covid hit. Negative And Moderate Reactions To Jack Dorsey‘s Tweet This is an example of an unnecessarily insulting response from a traditional finance person.  2/ step back and it’s disturbing that a lot of most powerful financial figures/oligarchs are invested, literally and figuratively, in various huckster schemes and libertarianish fantasies of state and civilizations collapse. — Josh Marshall (@joshtpm) October 23, 2021 This man has obviously not done his homework regarding Bitcoin, so his argument is invalid. And doesn’t require a response. Plus, he’s being insulting to get attention, which he got. So, good for him and his dopamine levels. Let’s hope he has fun staying poor. This is a Venezuelan economist with a moderate answer to Jack Dorsey. I don't think it will. But it doesn't need to happen for things to get ugly. https://t.co/Cj85mJ8o7x — Eduardo Gavotti (@EduardoGavotti) October 23, 2021 Since Venezuelans have first-hand experience with hyperinflation, let’s take what he says into account. The US is just feeling what inflation does. So-called developing economies live with that concept on their backs every second of every day. BTC price chart for 10/23/2021 on Bitstamp | Source: BTC/USD on TradingView.com Informative Reactions To Jack Dorsey’s Tweet The Human Rights Foundation’s Alex Gladstein, a notorious Bitcoin maximalist, had this to say to Jack Dorsey. Those shocked by this tweet live in a bubble of financial privilege. *1.3 billion* live under double, triple, or quadruple-digit inflation: Turkey, Nigeria, Ethiopia, Iran, Lebanon, Venezuela, Cuba, Sudan, and beyond. It’s already one of the world’s biggest humanitarian crises. https://t.co/P83opDagdu — Alex Gladstein ?? ? (@gladstein) October 23, 2021 He’s not lying. Hyperinflation is “already one of the world’s biggest humanitarian crises.” However, the US is far away from “Turkey, Nigeria, Ethiopia, Iran, Lebanon, Venezuela, Cuba”, and Sudan’s situation. And, since the Dollar is still the reserve currency of the world, they have a comfortable cushion to resist the constant money printing’s effects. Serial entrepreneur and former Coinbase CTO, Balaji Srinivasan, answered Jack Dorsey with a fully-fledged idea. A “censorship-resistant inflation index.” I wrote a spec for a censorship-resistant inflation index. It’s framed for a startup, but Square could easily do this. In a crisis, accurate inflation info would be something people checked Twitter for every day. @milessuter @moneyball @jack https://t.co/SYb2mfxjex — Balaji Srinivasan (@balajis) October 23, 2021 In the project, he brings forth some hard truths: “If inflation is a government-caused problem, we can’t necessarily rely on government statistics like the CPI to diagnose it or remediate it. Indeed, in places with high inflation, censorship and denial is the rule rather than the exception.” If you are technically capable, there’s still time to send your proposal and earn “A $100k Prize for a Decentralized Inflation Dashboard.” Be aware that “if you use Chainlink’s oracle tech in your project, the best dashboard will be eligible to receive a $100k grant in LINK tokens.” Those tokens are in addition to the main prize. Poor Understanding Of The Terminology In a Twitter Spaces room specifically dedicated to Jack Dorsey’s tweet, notorious podcaster Preston Pysh concluded. “I think people’s understanding of the terminology, deflation, inflation, is just grossly misunderstood. And so, when you say we’re going to have these deflationary events that are then going to lead to more QE, which is then going to result in more inflationary events. I completely agree with you, but we’re talking that there’s so much information loss in such a simple word as deflation and inflation. So the deflationary event is that this whole system is constructed as credit.” When he says QE, Preston refers to Quantitative Easing, which Investopedia defines as:  “A form of unconventional monetary policy in which a central bank purchases longer-term securities from the open market in order to increase the money supply and encourage lending and investment. Buying these securities adds new money to the economy, and also serves to lower interest rates by bidding up fixed-income securities.” Related Reading | Jack Dorsey Plans to Build A Decentralized Exchange For Bitcoin That being said, Preston asks: “How many people in the US, or in the world, have that context when that’s not their expertise, right? They didn’t get a major in macroeconomics, or finance, or whatever. So, it’s just all buzzwords that people throw around. And, in the meantime, no one really even understands what those definitions even represent.” For more information about inflation, check out the Bitcoinist Book Club analysis of Saifedean Ammous’ “The Bitcoin Standard.” Featured Image by Gerd Altmann from Pixabay - Charts by TradingView

Sep 17, 2021 01:25

Bringing Bitcoin To Ethiopia With Kal Kassa

Bitcoin advocate Kal Kassa discusses bringing Bitcoin to Ethiopia and its potential in Africa at large.

Feb 20, 2024 01:25

Chinese Partnership to Bring Large-Scale Bitcoin Mining to Ethiopia

Chinese investment at Ethiopias largest dam is creating a powerful new mining hub. Still in its relative infancy, the area is already host to significant mining activity.

Jul 17, 2023 02:10

US Dollar Shortages: Ethiopia and Nigeria in $100 Million Currency Swap Transaction

According to a report, the central banks of Ethiopia and Nigeria recently consummated a $100 million currency swap transaction. Under the arrangement, an Ethiopian airliner was paid local currency equivalent to $100 million while Dangote Cement is said to have received a similar amount of nairas. Ongoing U.S. Dollar Shortages The central bank of Ethiopia [...]

The post US Dollar Shortages: Ethiopia and Nigeria in $100 Million Currency Swap Transaction appeared first on Crypto Breaking News.

Safaricom M-Pesa receives Ethiopian mobile money license, ending state monopoly

Author: Cointelegraph By Derek Andersen
United States
May 12, 2023 12:00

Safaricom M-Pesa receives Ethiopian mobile money license, ending state monopoly

The Kenya-based company already has 3 million mobile phone users in Ethiopia and plans to make it the 10th country where the payment service will be available.

 BitFuFu boosts Bitcoin mining with first physical facility in Ethiopia

Author: Cointelegraph by Derek Andersen
United States
Oct 23, 2024 12:00

BitFuFu boosts Bitcoin mining with first physical facility in Ethiopia

BitFuFu is no longer exclusively a cloud miner as it transitions to a more resilient portfolio. 

 Stablecoins now 43% of Sub-Saharan Africa crypto tx volume: Chainalysis

Author: Cointelegraph by Martin Young
United States
Oct 03, 2024 12:00

Stablecoins now 43% of Sub-Saharan Africa crypto tx volume: Chainalysis

Nigeria and Ethiopia have both experienced local currency devaluation which has driven stablecoin adoption. 

Jan 02, 2025 01:25

Recounting Ethiopias Bitcoin Developments In 2024

Reviewing developments in 2024 as Ethiopian Electric Power (EEP) and 25 privately owned bitcoin miners in Ethiopia contribute 600 MW of energy to the bitcoin network.

Jul 03, 2023 01:20

Ethiopia Joins Egypt in Seeking BRICS Membership

Ethiopia has joined Egypt and Algeria in applying to become a member of Brazil, Russia, India, China and South Africa (BRICS) economic bloc. According to the Ethiopian Foreign Affairs Ministry, joining the bloc would help the country guarantee its national interests. Safeguarding Ethiopian National Interests Ethiopia, which has one of Africa’s fastest-growing economies, has become

The post Ethiopia Joins Egypt in Seeking BRICS Membership appeared first on BTC Ethereum Crypto Currency Blog.

Your Crypto Gateway

Claim 1,000
Free WCG Coins

World Crypto Global opens the door to digital freedom for everyone.
Manage your free WCG Coins securely—where simplicity meets global accessibility.

11 bn

FREE CRYPTO COINS

8.9 bn

AVAILABLE FOR RESERVATION

2.1 bn+

ALREADY ALLOCATED

× WCG Coin

🎉 Get 1,000 WCG Coins

No fees. No catch. Your crypto journey starts here.