Dr. Craig Wright, the Chief Scientist of nChain, popularly known as Faketoshi spoke about the use-case of Bitcoin Cash [BCH] in Africa and how it can improve the economic status of the country, during a conversation with CoinGeek.
Craig was questioned on how Bitcoin Cash [BCH] and the blockchain technology matter in terms of trade for Africa. To which, he said that Bitcoin Cash enables a payment system and this according to him, is going to open up the markets and the ability to trade on a global platform and not just on the regional platform.
He continued to say:
“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 further added that through this people can earn more money and buy more goods and service. He said that people can also educate their children and develop a brilliant future for Africa.
Furthermore, Craig was asked about his perspective on having a specific token or a cryptocurrency for Africa in order to expand its trade. The Chief Scientist said that fiat can be paired with anything including Bitcoin Cash. However, he thinks that the real 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 further 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. “
According to him, a currency “actually” becomes powerful when it is accepted on a global platform. He concluded by stating that Bitcoin Cash will enable achieving that global economy.
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