In a new documentary available on Amazon Prime explains how African countries can leverage on Bitcoin and other cryptocurrencies to boost the region’s economy.
The volume recorded on bitcoin trades across Africa has seen an increased growth recently. It was previously reported an increase in the volume of Bitcoin trades across Africa.
Bitcoin trades across Africa increased to over N5.076 billion Naira~$13 million across 18 African countries with Nigeria covering over N3.631 billion Naira~$9.3 million.
The documentary “Banking on Africa: The Bitcoin Revolution” shows how things may begin to evolve in the near future.
More specifically, the documentary covered the current status of Bitcoin in Africa, either for better or worse. The documentary also came in video form for viewers.
Over the years, the growth of bitcoin in Nigeria has steadily increased. Nigeria has consistently ranked first five in Google Search ranking on the word “Bitcoin” since the beginning of this year.
Bitcoin has continued to gain traction on a weekly basis since April 2020 with Bitcoin trading volumes across peer-to-peer markets on the increase across Paxful and Localbitcoins.
The rate of inflation has continued to grow across Africa and other parts of the world including Europe.
Leveraging Bitcoin and other cryptocurrencies can help to solve economic issues devastating these regions of the world.