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Bitcoin and developing nations

• nextparadigms 15y ago
  "…but the developing world is another matter. Consider Zimbabwe, recently plagued by hyperinflation so rampant that when I was last there prices doubled every few weeks and gasoline could only be purchased on the black market with hard currency. They’ve since given up and simply adopted foreign currency wholesale. Meanwhile, mobile electronic payments are taking off in a big way all over sub-Saharan Africa. It isn’t much of a stretch to imagine Zimbabwe in ten years’ time—or a whole group of developing nations with a history of crippling inflation—adopting a new currency that is independent, incorruptible, and anti-inflationary by design" I think using Bitcoin in countries like Zimbabwe would be a great idea since they have a huge problem with hyperinflation there, money becoming worthless in days or even hours.