THELOGICALINDIAN - The CEO of one of Kenyas better lenders has argued there is a achievability cryptocurrencies will accompaniment adaptable money in Africa but aboriginal there is a charge to argue regulators of their benefits
African Regulators’ Stance on Crypto
Cryptocurrencies can potentially accompaniment adaptable money in Africa if regulators on the abstemious are fabricated to change their perceptions of the agenda currencies, the bang-up of one of Kenya’s better lenders has said. According to James Mwangi, CEO of Equity Group Holdings Plc, axial banks aboriginal charge to be assertive of the allowances of cryptocurrencies.
In remarks appear by Bloomberg, Mwangi acclaimed that best of the continent’s axial banks accept either banned the use of cryptocurrency like bitcoin or accept imposed restrictions on its use. He noted, however, that a few countries accept or are exploring means to embrace cryptocurrencies.
According to Mwangi, adopting cryptocurrencies is additionally one way Africa can get advanced of added continents as far as all-embracing fourth automated technologies is concerned.
“Africa will account essentially from leapfrogging on the fourth automated technologies, and cryptocurrency is one of them,” Mwangi is quoted explaining.
Embracing Emerging Technologies
The abutment his argument, the CEO acclimated the advance of adaptable money affairs in Kenya as an example. According to Mwangi, adaptable money affairs accept back developed to a point area they now outdistance adamantine bill affairs because Kenyan regulators were accommodating to try out new technology.
Mwangi additionally appropriate that application arising technologies like bogus intelligence could be the base for the continent’s leapfrogging into the fourth automated revolution.
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