I wish more people realized the current political crisis of digital currency is only the beginning of a multi-year trend of technology fragmentation based on political ideals.
Right now it's digital currency.
Next year it will technology platforms like Facebook and Android
I am most excited by the implications for Africa b/c Africa 🌍 is a net consumer of technology.
This means Africa is best placed to adopt a diversity of technology/ digital currency with allegiance to no one.
Especially decentralized tech like crypto, Bitcoin, p2p.
Governments, Central Banks, cartels in African nations have no choice but to accept and play the trend OR turn ape shit authoritarian.
The continent of Africa 🌍 is 1 massive market of millions of digital currency arbitrageurs on smartphones.
For me, if you are building for Africa 🌍 you have to pick a side
Either build for the (oppressed) people OR sell out and build for authoritarians. There is no in between.
We are at a critical juncture in Africa's (digital) history, where we (as teachers and venture builders) hold the key to change the course of history by enabling our people to resist status quo.
African Governments and central banks should be worried.
The classic example today of how African Central Banks have already lost is p2p Bitcoin / crypto trading.
Central Bankers already lost, they just don't know it yet.
Ask yourself, who are you building for?
The people? Or the oppressors?
True leaders are forged in times of crisis.
🎶
A common misconception cof the current crop of African focussed technology entrepreneurs (especially crypto/web3 bros) as builders is misguided where in fact they are modern day rebels dressed up as builders.
Today I purchased a newspaper for the first time in 5 years to read about the @CBKKenya plans to issue Kenya shillings backed Central Bank digital currency
ICYMI ⬇️
Call me a cynic, but, I don't see the point of a CBDC for a country with real time payments (mobile money and bank payments)
Also I'm wondering how an account with the Central Bank versus an account with a commercial bank makes a difference when both are plagued with inflation risks (of the KES) and even worse, heightened surveillance risk.
A quick test on hiring for early stage start-ups is to ask potential hires to put together a half-page work plan to manage a defined project.
Work plan has
- Date
- Task/actionable
- Status (complete, ongoing)
- Outcome
If you cannot communicate a projects, (any project for that matter) in this fashion you are too much work to manage / you require handholding / not cut out for startups
😐
If you cannot communicate (anything) in
- 1 page
- double spaced
- Arial 12
- 275 words or less.
⚡️Crypto regulations are coming to key African markets THREAD
⬇️ What follows explains why I expect a shift in balance in crypto transactions - from decentralized 🔜 centralized - backed by findings
❌ In the past 5 - 7 years, banking and mobile money gateway restrictions stifled certain crypto business models at the benefit of others
🚀 P2p emerged the winner, reaping all the benefits of Central Bank sanctions. Volumes for Africa moved to Paxful, localbitcoins, binance p2p and others as a gateway into bitcoin and stablecoins.
✅ Bonafide a wallet that lets you save and win prizes weekly in dollars
Great spin on fintech savings/investments/yield products. weaving games and fun/ social with financial instruments. Crypto natively enables fun programming