Cryptocurrencies Offer Economic Opportunity in Africa Despite Risks of Undermining Local Currencies

In much of Africa, it's cheaper to deliver money in person than via wire transfers, showing gaps in the global financial system.

Stablecoins like USDC are growing popular in Africa as they hold value better than volatile local currencies prone to hyperinflation.

Dollarization, where locals prefer digital assets over fiat money, brings economic opportunity but could further destabilize fragile governments.

Cryptocurrencies allow workers in the Global South to accumulate wealth in stable digital assets by working for internet-native organizations.

Adoption of cryptocurrencies and blockchain in Africa highlights human innovation and has potential to create more financial inclusion.