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sorry, I don't get it you buy phone credit and that phone credit it's money you don't need crypto for that mobile payments have been a thing in Africa since
by africanboy 6y ago
sorry, I don't get it
you buy phone credit and that phone credit it's money
you don't need crypto for that
mobile payments have been a thing in Africa since the 2000s
a digital currency doesn't have to be crypto to work
I would say that it works better if it isn't
- anteatersa 6y agoFraud is also a thing in Africa, I suppose adding crypto is an attempt to add some transparency/accountability to mobile payments.
- africanboy 6y agoI'm not sure how a self emitted digital coin not backed by any institution or protected by any law could add security from frauds. «Bitcoin: Fake Elon Musk giveaway scam 'cost man £400,000'»
- dopidopHN 6y agoOh sorry. I should have elaborate. People already use telecom minute as money in Africa as a whole. The African diaspora does it abroad as well. ( I’m aware that Africa is a continent, I think it’s a broad practice. Idk, I can only speak for the Maghreb) The use case here is : You cousin pay you back some debt worth 50$ in telecom minute X. You accept, spend some of it. Then realize you need to pay back someone else. That person has no interest in telecom minute X and can only use the Y company. You have to buy brand new Y minute. Few mécanism exists to convert one in another. That particular crypto aims at providing that. If that work and the fee are not outrageous. That would be massively useful. Hope it’s help.