Why the Developing World May Be Bitcoin's Biggest Customer
blog.nyaruka.com
Why the Developing World May Be Bitcoin's Biggest Customer
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Re: Why the Developing World May Be Bitcoin's Biggest Customer
#2I am an entrepreneur from north Africa living in France and I am as astonished as you at how people criticizing bitcoin never talk about it's potential for countries like mine where there's no well established and easy payment system.
Glad you wrote a good article about it.
If bitcoins works, it will change the faith of developing countries and I sincerely hope it does.
Re: Why the Developing World May Be Bitcoin's Biggest Customer
#3Like the author I also have my reservations about how solid bitcoin is, but regarding what such a currency would do for emerging economies I totally agree with his article.
From personal experience, the situation here (in Peru) like in most countries in South America is a milder version of what he describes in Africa where if you belong to the top tier of society, it is not that hard to get a credit card, but it is a big problem to get veted to collect payments. If you don't belong to that top tier, then you can hardly participate of it. (Banking use in Peru is 30%, cell phones 70+%)
While bitcoin would incredibly accelerate development of the economy, banks would not be happy at all of loosing control over a very profitable market and government would have a heart attack over tax revenue, money laundering and such.
Re: Why the Developing World May Be Bitcoin's Biggest Customer
#4Yes, sell it to latinos,
rich soil for Fools gold
Re: Why the Developing World May Be Bitcoin's Biggest Customer
#5More commentary from Reddit:
Re: Why the Developing World May Be Bitcoin's Biggest Customer
#6If you think getting a Visa card is hard in Rwanda, getting a merchant account so you can accept Visa payments is a whole different story. And again, here Bitcoin shines. Someone in Rwanda that builds a compelling service can instantly start taking payments from the rest of the world, without asking for permission, without filling out any paperwork and with the same fee structure as the biggest retailers.
Brilliant blog post. The best idea around Bitcoin I've heard for a while. There's probably room for a startup to help spread bitcoin in the developing world