19 Jul '13, 9am

Alternative Currency Bitcoin Poised to Grow in Africa and Beyond

Alternative Currency Bitcoin Poised to Grow in Africa and Beyond

, the alternative digital currency that dates back to 2008, has caught on around the world, from Argentina to sub-Saharan Africa. Completely free of any privately-held financial institution or government central bank, users with access to the bitcoin exchange the currency via an encrypted peer-to-peer software system over the web or by mobile telephony. The system has its hitches. First, the currency’s exchange rate was volatile for much of the year. Bitcoin’s instability, therefore, has attracted its fair share of critics; others have slammed the system as a means to fund illegal drugs and gambling (true of any currency, of course). Nevertheless, more businesses, merchants and individuals embrace the currency. Some pubs in Britain accept bitcoins; Argentines weary of inflation and the country’s dodgy banking system are warming up to the currency , too. In Africa, one in t...

Full article: http://www.triplepundit.com/2013/07/alternative-currency-...

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