Africa is lagging behind in terms of achieving this goal due to a lack of regulation, a lack of trust, major regulatory bodies banning digital currencies, and a lack of cryptocurrency education.
Debswana, a 50/50 partnership between the De Beers Company and the government of Botswana has brought lots of revenues to Botswana, including an impressive infrastructure such as roads and free education up to university.
However, a few key players have been observed to have a significant impact in raising Bitcoin awareness and understanding.
The majority of African media companies do not promote Bitcoin and cryptocurrencies for fear of repercussions from their regulators, as well as bans and embargoes imposed by central banks.
Looking at a longer term view, some organizations are building schools while others are developing learning materials for schools.
The SHAmory family believes that there are no barriers for anyone in the world to use the Bitcoin network, and their mission is to bridge the generation gap.
According to the study, 40% of African respondents had not purchased any cryptocurrency because they did not understand how to buy and hold.
For example, in 2021, the founders of Africrypt, a defunct crypto investing platform, stole over $3.6 billion in Bitcoin in South Africa.
Binance and other players have been organizing educational programs to help Africans understand crypto, protect their crypto, and avoid crypto scams in order to slow the spread of crypto scams in Africa.
Satoshicentre hasn’t scaled much because the Botswana government hasn’t implemented digital currency regulation, so it’s forced to accelerate crypto adoption through peer-to-peer transactions.
Satoshicentre collaborated with Paxful last year to create a hub for blockchain startup acceleration and innovation.
To truly scale Bitcoin adoption in Africa, the crypto community’s leaders must find a way to educate politicians and other policymakers about Bitcoin and its features.
Furthermore, Bitcoin plebs in Africa must accelerate blockchain education in order to help people understand crypto and secure their coins.