M-Pesa – digital cash all of Africa could soon be getting onboard

The fallowing is true for all poor of the world, Mexico, India, …
excerpt form usatoday.com

The key characteristics of digital cash make it a great fit for people who aren’t so down with advanced digital technology: the 326 million Africans who lack access to basic banking services.

Mobile payments that work on standard-feature phones have already made strong inroads in Africa, with 16 percent of Africans using the services. The largest provider of such payments, M-Pesa, already operates in Kenya, Tanzania and South Africa, as well as India and Afghanistan.

Africans throughout the diaspora send home $32 billion a year, according to the World Bank.

Pelle Braendgaard, the CEO of Kipochi. His goal: to expand access to women managing household expenses. They’re the most common recipients of remittances. “My goal is to make bitcoin usable by ordinary people all over the world, so that even my grandma can use it,” he says.

There’s no system to cash out bitcoins for government-issued currency.  In February, South Africa’s Standard Bank tested a bitcoin trading system, but hasn’t yet

Bitcoinappeal to African consumers who are leery of their country’s inflationary troubles, which are a constant threat to economic stability.


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