How Bitcoin and Crypto Exchange Disrupt African Banking System
Bitcoin is gaining popularity in Africa as a potential solution to the continent's broken financial system. With limited access to traditional banking options, rampant hyperinflation, and capital controls, moving money in Africa is an expensive and complicated process. Bitcoin offers a way to send digital payments directly to one another, without relying on credit and without incurring multiple settlement fees along the way. The Lightning Network, a layer two technology built on top of bitcoin's main chain, is helping to alleviate transaction costs and enable nearly instantaneous cash payments around the planet.