- Twitter CEO Jack Dorsey has ended its month-long trips to four African countries.
- The Twitter CEO says the continent will define the future of Bitcoin.
- Jack says he will spend between 3-6 months in Africa next year.
Twitter CEO Jack Dorsey ended its month-long trips to Africa on Wednesday, November 27th, 2019.
The tech entrepreneur visited Nigeria, Ghana, South Africa, and Ethiopia.
Jack was hosted by young entrepreneurs and some big players on the micro-blogging website, including one of the firm's board members, Dr. Ngozi Okonjo-Iweala, while in Nigeria.
Communication team at Twitter had told Business Insider SSA at the CcHUB during his visit was to learn more about how people are using Twitter as a platform and discuss with tech entrepreneurs.
On Wednesday night, Jack tweeted that the continent will define the cryptocurrency market for the future. He said he'd be back to live on the continent next year.
“Sad to be leaving the continent…for now. Africa will define the future (especially the bitcoin one!). Not sure where yet, but I’ll be living here for 3-6 months mid-2020. Grateful I was able to experience a small part.”
What is Bitcoin?
Bitcoin is a digital currency that is completely virtual. It is one of the popular digital currencies around the world. The transactions on Bitcoin and other cryptos are recorded in a public list called the blockchain.
Can Africa define the future of Bitcoin?
The continent is experiencing steady growth in the cryptocurrency market and, according to reports, it is one of the tools that will disrupt the financial landscape of the continent.
Many African governments are still looking for ways to regulate the market which is highly volatile.
At the recent concluded 2019 AfricaCom event in Cape Town, Luno’s CEO Marcus Swanepoel explained that the implementation and use of cryptocurrencies will be an important part of Africa’s future.
“Luno can see that as cryptocurrencies develop over the next ten years, they can become part of everyone's lives, solving many of the issues currently associated with existing fiat currencies,” Swanepoel said during his keynote address.
He said the adoption of Bitcoin and other cryptocurrencies will lead to financial inclusion, hamper economic growth and financial freedom.
As of Thursday, Bitcoin trades above $7,400, as seen on Coindesk.