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One of the ways that small businesses in Africa can use Bitcoin is as a store of value. For instance, if a small business owner in Nigeria bought and held Bitcoins worth 10,000 Nairas at the beginning of 2019, his investment would have increased by about 85% after one year.
It's not clear how Jack Dorsey and Jay Z's ₿trust will work or the type of projects it will be funding. What we do know at the moment is that Jack Dorsey and Jay Z are looking for three people to be part of the Board.
Mastercard will soon, later in 2021, support cryptocurrency transactions on its network. This announcement came at a time when crypto is gaining popularity and prices reaching all-time highs.
New York's Digital Currency Group has acquired South Africa’s largest cryptocurrency exchange, Luno, for an undisclosed amount of cash. Luno has 5 million customers and a presence in 40 countries.
While technological change has been incredibly fast in the information era, the system of international payments has lagged behind. But once sovereign digital currencies start taking off, this will suddenly change.