Cryptocurrencies can transform the financial industry in Africa, where most financial institutions face challenges in adopting technology on its systems to reduce transaction fees and tap the unbanked people of Africa. Mobile banking was a success in Africa as it enabled more people to have an opportunity to transfer money at reduced transaction charges and it was easily accessible due to the adoption of mobile phones and introduction of cheap internet access through mobile phones.

The governments of Africa have really worked on improving the economy of Africa through educating the citizens on the importance of financial education and this has been witnesses in introduction of financial aid to communities through SME Loans and entrepreneurship sponsored activities. The banking sector has witnesses a growth of bank accounts as they were able to reduce minimum deposits and withdrawal amounts to tap to the growing market as banks raced to compete for more customers in their portfolio. The banks were able to connect mobile banking to their system which made it easier for the communities in Africa access financial services and this has been the dominant mode of payment among the youths and middle-class families.

Cryptocurrencies come packages with all the stated features reduces transaction fees, easy access, guaranteed security and smart contract features which is very attractive to the African financial industry. The accessibility of this mode of payment will resolve the trust issues African communities have with their banks.

Cryptocurrency Adoption: Opportunities in Africa

Africa is ripe for cryptocurrencies and opportunities are present in the financial industry, the accessibility of cryptocurrencies compared to traditional forms of banking makes this an attractive solution to the traditional banking system. The inflation witnesses in Africa countries can also be resolved by adopting cryptocurrencies as the crypto space become more stable as more governance takes place increasing the stability issues. Africa is a continent with vast resources and inter-countries transaction when sharing trades and business opportunities can be fastened through cryptocurrencies due to the reduced transaction costs associated with cross border transactions.

The economic growth of Africa is highly linked to sharing of resources and encouraged cross border relationships as the countries in Africa are bound to be more stable if the support each other creating opportunities for growth and this can be fastened by the ability to transfer funds easily between the countries. I believe cryptocurrencies hold the key towards this opportunity and the reason why I think start-ups like GOLIX have more opportunities in the space.

GOLIX Exchange

Golix is an exchange in Africa making headlines on its fight to make cryptocurrencies adopted in the African continues, it has a very high volume of more than $600,000 monthly and this has been driven by the financial instability of one of the countries it operates in "Zimbambwe" where it has managed to gather a wide support and use case. The success of the exchange as seen it install ATM machines in Countries for easier cryptocurrencies accessibility which is a broad move for such a start-up.

The exchange has been in constant media attention due to its legal fights, a noble fight as government oppose the legality of cryptocurrencies. The exchange has won many of this fight and the global support of the exchange by the cryptocurrency community has encouraged the exchange to not look back and accomplish its mission of spreading the use case of cryptocurrencies and connecting African communities to financial inclusion through easily accessible and less costly transaction solution to their financial activities through the use of blockchain technology.

Conclusions

The blockchain revolution has been said it will transform the African financial sector, this has been a discussion since the adoption of blockchain technology. Government have formed committees to see the use case of cryptocurrencies and how it can be used to change the industries traditional form of management on ministers such as land and financial industries.

Golix is a brave exchange that I'm keen on following on its path to success, its headed by a group of experts who have a passion in the blockchain and financial industry, As Africa prepares to adopt cryptocurrencies this amazing team will be ready.

IMPORTANT LINKS:

Website: https://golix.com

Tokensale website: https://tokensale.golix.com

Whitepaper: https://drive.google.com/file/d/1P1Ut2d24nvi3Fje1tplhcCpjkL950als/view?usp=sharing

Lightpaper: https://drive.google.com/file/d/1N6Pduam0r3wrjFCQMqDM1fYMIJRzMuFM/view?usp=sharing

Slide Deck: https://drive.google.com/file/d/1CWdjmhX65WafJrYTqKQBuT54AD86cY_Y/view?usp=sharing

ANN: https://steemit.com/africa/@jamesndungu/golix-digital-currencies-for-people-in-africa

GETTING IN TOUCH (SOCIAL MEDIA):

Telegram: https://t.me/golixcommunity

Facebook: https://www.facebook.com/golixdotcom

Twitter: https://twitter.com/golixdotcom

WhatsApp: https://api.whatsapp.com/send?phone=2634761158&text=Hi%20Golix

YouTube: https://www.youtube.com/channel/UC-5gAH6TSu7XYlQvWPTRj9g

Reddit: https://www.reddit.com/r/GolixDotCom/

Author: jamesndungu1

BitcoinTalk Profile: https://bitcointalk.org/index.php?action=profile;u=1856049

Ether Address: 0x8E8A5B6e2ABF1Bb64759bDd4DBe788F45B1D4f54