Following a round of recent Bitcoin charity donations here at Coinapult, we decided to catch up with the beneficiaries to learn more about how Bitcoin donations are helping their good work continue.

This week, we turn the spotlight on the Dream Bitcoin Foundation in Ghana, whose founder Philip Agyei Asare explains his vision for the charity; to empower young, ambitious and self-determined young entrepreneurs to use the currency to build towards a better future.

The Dream Bitcoin Foundation is busily engaged in education and outreach, teaching young people about Bitcoin and the blockchain, and building a community of young professionals in Ghana. But as Asare explains, it goes further than growing the community and awareness. It is about recognizing the importance of Bitcoin for the future development of Africa, seen within the context of a global economy.

‘Bitcoin will help trade activities within the country and foster strong business partnerships with international entrepreneurs.’

Looking at the bigger picture, Bitcoin can help shape the future of young Africans in ways that alleviate some of the long-standing issues many young people face.

‘Ultimately, blockchain technology will help in bringing wealth to a land plagued by poverty. A decentralized system like Bitcoin will spur interconnected hubs of prosperity that function beyond national boundaries.’ Source

But in a country where only 17% of the population have internet subscriptions, theirs is a very different model to adoption, one that will most certainly be led by mobile phone technology.

Recent figures show there are more mobile phones contracts in the country than there are people, and 55% of all phones have data plans. Source

Because of this, there is already a very successful mobile money payment system in the country and Asare believes this precedent could pave the way for Bitcoin adoption.

‘Since the currency is already inherently digital, building a payment platform on top of it should be relatively easy.’

In fact, Bitcoin offers some great advantages over the current system, which is in the hands of telcos and banks. Bitcoin can be traded across international borders, while mobile payment systems are limited to money transfers within the country. In addition, mobile wallets are not permitted to store more than Ghc 10000, roughly $3000, whereas Bitcoin has no such limitations. Transaction times typically take seconds instead of days and cost little to no fee, versus the expensive fees charged by banks and services such as Western Union.

It is for all these reasons that the Dream Bitcoin Foundation will continue to dedicate time and resources to educating and empowering the next generation of Bitcoiners. We have made our donation, if you would like to make yours Click here.

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