Jack Dorsey Bitcoin Africa
Bitcoin | News
Jack Dorsey: Africa Will ‘Define’ The Future Of Bitcoin
November 29, 2019
Jack Dorsey Bitcoin Africa
Bitcoin | News
Jack Dorsey: Africa Will ‘Define’ The Future Of Bitcoin
November 29, 2019

Jack Dorsey, the CEO of Twitter and Square, has predicted that Bitcoin (BTC) will see its future “defined” by Africa.

On November 27, Dorsey said in a tweet that he would return to Africa in 2020 after spending time traveling in Nigeria and Ghana this month. 

However, during his stint in Nigeria, Dorsey attended a Bitcoin meetup, continuing his personal advocacy of the cryptocurrency. 

The tech mogul has become famous for his Bitcoin support, having pledged to integrate its functionality into both Twitter and Square. He has also publicly endorsed the Lightning Network as a payment solution, something which allows Bitcoin users to send funds instantly for next to no fee.

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Similarly, Dorsey’s comments come as Africa continues to generate significant interest in Bitcoin. As it has been reported, Nigeria regularly features among the most active countries in terms of Bitcoin Google searches, along with fellow African nations such as South Africa. 

However, Lagos, Nigeria’s most populous city, is tipped to become a giant metropolis of over 32 million people as soon as 2050, adding to its weight as a market for the cryptocurrency.

According to data from the World Economic Forum, it will be the most populous city in the world by 2100. 

In total, by the next century, 13 of the top 20 global cities by population will be in Africa. Local government has so far taken a risk-averse stance on Bitcoin. This month, Ghana revealed it was considering a central bank digital currency, or CBDC, in line with plans from China. 

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Thus, Nigeria has yet to adopt formal regulation of cryptocurrency.

Source: cointelegraph.com

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Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.