nChain’s Dr. Craig Wright Shares Africa’s Cryptocurrency Development Needs After A Recent Visit


Dr. Craig Wright is the chief scientist for nChain and had an interview with Becky Liggero of CoinGeek. Much of the discussion turned to innovations that platforms are bringing to Africa, and how blockchain has the potential to improve it. Dr. Wright took the time to visit Africa recently, where he sees the potential for how far the technology can go.

One thing that Dr. Wright has learned is that the banking industry in Africa is fairly limited.

He said,

“We have people who basically could be less impoverished, could grow, could be more entrepreneurial and could expand and become something more than they are right now, and we can do that because of Bitcoin Cash.”

Based on the information from Dr. Wright, both the United States and Europe are employing cryptocurrency in many different use cases.

However, in Africa,

“it’s a system that a lot of people don’t have. It is a way of saving that they don’t have. It’s replacing something they don’t have. It’s not, ‘Oh, big bad banks,’ it’s ‘We don’t even have banking. We don’t have a way of storing money, and under the mattress isn’t good enough.”

Dr. Wright noticed that there are a lot of young adults and children that will be dealing with the responsibility of supporting their families. Blockchain technology and cryptocurrency were not available to earlier generations, but this one has a chance to provide for a spouse and even children with the right understanding.

“They’re going to get to a stage where they have two retired people for every person working, and that’s really going to change their economy. They’re all anxious to learn about how they can be part of the world of tech,”

he said.

Through this interview, it is clear that Dr. Wright has a lot of answers, but he admits that he does not have them all. The people who are presently learning the technology will eventually expand on it and have a greater understanding of controlling their own future.

Expanding on this idea, Dr. Wright said,

“This is the thing people don’t get, the younger the people are that are going to build everything going forward. Watching and seeing how this world will carry forward, it’s great. We’re developing in nChain, and we’re going to release solutions, but it’s going forward, these are the people that will invent things that I haven’t even thought of. I mean, I might have been involved with the internet for god knows how many years now before it was actually the internet even, but the reality is I’m just an old dinosaur, and these people will think of things I haven’t even imagined.”

Anyone that wants to help with the local or worldwide adoption of Bitcoin can join the bComm Association, which is presently made up of miners, merchants, and other members. For developers and merchants, the first CoinGeek Week will be happening in just a few months in July. If the registrant is a member of the bComm Association, they will be able to get a discount when they place their order at coingeekweek.com/.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide