Cryptocurrencies: new form of colonialism or upliftment opportunity?

It is quite clear that we are developing into a society that is completely driven by information and reliant on technology. As we evolve along this path, those that succeed will be those who are able to equip themselves to handle this future by grasping the fact that the entire paradigm has shifted significantly, believes Fay Mukaddam, CEO of 4AX.

“From an African perspective, I think we clearly need to recognise the potential that cryptocurrencies offer to the continent, as a solution that can effect real change as a driver of financial inclusion, and thereby help to close the massive socio-economic disparity gap,” says Mukaddam. “If we consider just the opportunities this opens for cross-border trading in Africa, the benefits are obvious. No doubt there are challenges that come with this, not the least of which is the sovereignty issues relating to the taxes and customs fees that would be applicable, were we talking about a physical entity.”

Full article: IT News Africa




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