Jack Dorsey’s visit to Africa. How and Why Stibits Can Facilitate Transactions Anywhere in the World
Bitcoin, Ethereum, Ravencoin and all other cryptocurrencies are becoming more and more widespread and commonly used throughout the globe. In some regions of the world, the governments have played an active role to spur its adoption while in other regions, major figures have played a leading role towards educating and creating change. For example, in late April 2018, the UAE Government launched the Emirates Blockchain Strategy 2021. The strategy aims to capitalize on Blockchain technology and convert 50 percent of government transactions onto the blockchain platform by 2021. By adopting this technology, the UAE government expects to save:
● 11 billion in transactions and documents processed routinely
● 398 million printed documents annually
● 77 million work hours annually.
The example provided above involving the UAE Government is just one instance of the ongoing change and increasing awareness/utility of cryptocurrencies and Blockchain technology. Such transformation in major institutions is providing major players like Jack Dorsey an incentive to capitalize on this cryptocurrency/blockchain revolution in the Middle East and Africa.
Shown above is a recent tweet by Jack Dorsey, detailing his plans to move to Africa in 2020. Specifically, Dorsey says he wants to live in Africa for up to six months. He also noted that Africa will define Bitcoin’s future (and likely, the future of other cryptocurrencies). Realizing the great potential in Africa while at the same time, recognizing its complex demographics, Dorsey decided to find out for himself. He has taken it upon himself to educate and lead a currency revolution in Africa and influence its population of 1.2 billion people. In doing so, Dorsey hopes to decentralize Africa’s economy and monetary system. The data somewhat supports Dorsey’s expectation that Africa will lead the way in Bitcoin and Cryptocurrency adoption. To that point, statistics and trends support Dorsey’s belief that Africa is fertile grounds for a cryptocurrency revolution, as over the past two years, three of the top five countries in Google searches for Bitcoin have been African countries. To that point, developing countries have long been expected to benefit the most from the technological advances and security features of Bitcoin, Blockchain technology, and other cryptocurrencies. According to Nate Hindman, the head of growth at Bancor (an on-chain liquidity protocol), “ . . . in emerging markets like Africa, the shallow reach of traditional money systems means there [is] less resistance to new financial technology.”
To that point, a significant amount of Africa’s population, who up until recently, were unfamiliar about Bitcoin and Blockchain can begin to witness changes on their continent.
Africa has a current population of about 1.2 billion people — undoubtedly a massive and untapped market for cryptocurrencies and blockchain-based networks. Dorsey’s mission to create mass adoption of Blockchain technology in Africa will become significantly easier as a result of emerging technology such as Stibits. In an ever expanding marketplace, for any technology to reach critical mass, it needs to have the end-user in mind. This would call for a platform or an application like Stibits, that allows for the fast, frictionless, safe, and easy-to-use transfer of cryptocurrencies between two parties anywhere in the world.
The major issue with the current state of cryptocurrency transfers is that cryptocurrencies are very challenging to use, and the prospect of purchasing and transferring coins is daunting, and oftentimes deters people from using blockchain-based purchasing platforms. Specifically, as of now, crypto wallets are (a) generally difficult to use and prone to data breaches and/or hacking; (b) lacking decentralized solutions when associating a user’s e-mail address, phone number, or name to public keys; and, © devoid of a multi-currency approach that offers data privacy. However, Stibits has put forth an application that resolves each and every single one of these difficulties associated with purchasing and transferring cryptocurrencies.
As people throughout the world, especially in African nations, begin using cryptocurrencies, they will seek an easy, frictionless way to send and receive money — especially since many of these first time users will likely have no prior background or understanding of cryptocurrencies or the underlying blockchain technology.
The Value of Stibits
And thus, the value of Stibits will become increasingly apparent to people that owns and/or transfers cryptocurrencies. With the rise (and continuing rise) of cryptocurrencies across the world, it is crucial for users to conduct their transactions safely and efficiently, in the easiest possible manner, without the complexity of lengthy key addresses — which can also make the process of sending and receiving cryptocurrencies much more difficult than it needs to be.
Stibits enables simplified cryptocurrency transactions, and offers users complete data privacy — completely safe from any data breaches or hacking. Particularly, the Stibits platform implements various methods for achieving this data privacy. For example, Stibits uses a different public address with each transaction. These public addresses cannot be traced to any user emails and, vice versa, user emails cannot be traced back to any user public address. Adding a further layer of security to the Stibits platform, user wallets remain private and only the users themselves have access to these private keys. Adding another layer of security to the process, nobody but the user themselves have access to their balance or exchange history — even during the process of completing transactions. Not even Stibits employees have access to user keys. To ensure that the user has sole access to their private data, Stibits ensures that all information is encrypted with a passphrase created directly by the user. The Stibits team, as to assure Stibits users that they are always exchanging crypto with a real person, always verifies user contact information.
In addition to data privacy and security, Stibits offers its users quick, simple, and uninterrupted transactions. No other current technology offers the same in one package; Stibits has worked hard to build an efficient Graphical User interface to help ensure that sending and receiving cryptocurrency to a human profile remains frictionless. Furthermore, sending money to another party using Stibits can be achieved in only a matter of seconds — it has never been so quick or easy. Once the transaction has been completed, the recipient will receive a prompt notification alerting them to the fact that the funds have successfully been transferring. Stibits really makes it that simple.
As noted earlier, the Stibits platform has effectively eliminated the pesky issue of lengthy cryptocurrency key addresses — often too difficult to type out for even those proficient in the field. Now, anyone, anywhere, regardless of their prior knowledge and/or proficiency of cryptocurrencies and blockchain technology, can easily send and receive digital money by using Stibits. Moreover, the Stibits platform was designed to be user-friendly, with every individual in mind — wherever they are in the world. To that point, Stibits is available on various different platforms, including but not limited to:
Android, iOS, and computers/API. Now, users in the Middle East, Africa, Asia, Europe, North American, and South America can easily transfer and receive cryptocurrencies from their customizable wallet and simple to use key address in the quickest and most efficient manner possible — all thanks to Stibits.
For more information visit: https://Stibits.io
