Twitter CEO Says Africa Will Define the Bitcoin Future

The CEO of Twitter and Square says Africa will define the future of Bitcoin. He is going to the continent for at least three months next year. 

28 November, 2019 | AtoZ Markets One of its best-known promoters having predicted that Africa will define the future of Bitcoin after having toured the continent. He is Jack Dorsey, CEO of Twitter and Square. In a tweet on Nov. 27, he said that he would return to Africa in 2020 after spending time in Nigeria and Ghana this month.

Twitter CEO Would Meet Entrepreneurs for Bitcoin Future in Africa

The 43-year-old bearded technical executive was in Ethiopia this week as part of a month-long tour across the continent that he tweeted last October. He said he would meet entrepreneurs in Ethiopia, Ghana, Nigeria, and South Africa.

Dorsey is known for his travels around the world and sometimes his eccentric practices. He said he was in Melbourne, Australia, in September, and Myanmar in December, where he celebrated his birthday with a silent 10-day Vipassana meditation.

Dorsey seems to have continued his vipassana practice. He tweeted a picture of his third 10-day vipassana meditation in South Africa last week. But most of his trip seems to have been devoted to meetings with the tech community across the country.

Dorsey’s visit stands in stark contrast to Mark Zuckerberg, CEO of Facebook. He will host public debates in 2020 on the future of technology in society. That has drawn attention to its lack of diversity. Africa, a large part of which lacks the infrastructure of Western countries, has traditionally been treated as an afterthought by many large technology companies.

Dorsey’s trip to the continent may mark a change. But he is not the only great technician to travel to Africa. Former Alibaba Group Chairman Jack Ma was also in Ethiopia this week, signing an agreement to establish a new trading platform.

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Bitcoin Interest in Google Search

Dorsey’s comments come as Africa continues to generate significant interest in Bitcoin. Nigeria is regularly among the most active countries in Google search of Bitcoin, along with other African countries such as South Africa.

Nigeria’s most populated city is set to become a giant metropolis of more than 32 million people by 2050. It is adding to its weight as a market for cryptocurrency. In total, by the next century, 13 of the top 20 cities in the world in terms of population will be in Africa.

So far, local authorities have adopted a risk aversion attitude towards Bitcoin. This month, Ghana revealed that it was considering a central bank digital currency, or CBDC, following China’s plans. However, Nigeria has not yet adopted formal regulation of cryptocurrency.

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