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  • A.R.T Digital Team

STRANDED: HOW BITCOIN IS SAVING WASTED ENERGY AND EXPANDING FINANCIAL FREEDOM IN AFRICA


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Alex Gladstein of the Human Rights Foundation reports on how Bitcoin is monetizing stranded energy, financing electrical infrastructure, and empowering millions.


Hundreds of millions of Africans face two problems holding them back from progress: 600 million lack electricity, while virtually all 1.4 billion people on the continent lack high-quality currency. Compare this to the US, Northern Europe, or Japan, where nearly everyone has access to consistent, affordable power and a widely-accepted reserve currency like the dollar, euro, or yen.


The longer that Africans suffer from power blackouts and high inflation, the harder it is for them to get a leg up, despite their best efforts. Worse still, legacy energy and financial providers have no incentive to alleviate this issue, meaning currency debasement, debt traps, and grid shutdowns persist.


Source - Bitcoin Magazine

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