Craig Wright explains how Bitcoin Cash [BCH] & blockchain technology matter in terms of trade for Africa
The Chief Scientist of nChain, Dr. Craig Wright, recently spoke about the use-case of Bitcoin Cash [BCH] in Africa and also shared how to improve the economic status there.
During a conversation with CoinGeek, Wright, who is popularly known as Faketoshi said that Bitcoin Cash (BCH) enables a payment system and he believes it’s going to open up markets, giving people the ability to trade on global platform, not just regional platform.
He added, “A global money becomes trusted because you know it is liquid everywhere but we can do things like enabling people to invest here in maybe even coffee plantations, maybe other forms of agriculture, maybe be growing plantains that not get sold locally but becomes sold everywhere.”
He went on to explain that through this, people will be able to earn more money and buy more goods and service. According to him, people can educate their children and develop a bright future for Africa through this.
When Craig was asked about his opinion on having a specific token or crypto for Africa to expand its trade he said that fiat currency can be paired with anything including BCH. However, according to him, the main problem is creating a currency which can be globally distributed.
He said, “We don’t want to globalize. This is the whole pint of specialization. What are you building here and there are some new industries starting to pop up and that is what they need to focus on whether it is developing new technology.” Craig added, “whether it is having the agriculture in a way that consulting the world whatever else but to do that, you are not looking at selling between Africans. You want to sell Europe, you want to sell to Asia, you want to sell to America.”
Image via Shutterstock
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