As Corrupt Governments Ruin Their Money Through Inflation, Africans Fighting Back with Crypto
Throughout Africa, corrupt governments print money to finance their spending which has created an inflation epidemic on a massive scale. Just last month, citizens of South Sudan saw prices rise—thanks to government caused inflation—over 160 percent. Some countries have seen inflation rates topping 800 percent. For those struggling to get by, watching their money lose most of its value, literally overnight, is a horrifying fate. To combat this problem, many folks across the continent are switching to cryptocurrency.
One such group who is seeking to challenge the control that the corrupt governments and banks have over the value of money is Dashy Africa. The group is using cryptocurrency, DASH, in particular, to challenge the status quo and free the people of Africa from their dependency on fiat which keeps them in a perpetual state of poverty.
Dashy Africa has big plans for their fellow Africans. As they explain on their website, this project is designed to disrupt the very system that attempts to assert its control over others.
Being held bound all these years by colonialism and later neo colonialism in terms of subjugation in the political and economic stratosphere of the world, Africa has been unable to find a voice for itself in determining the direction of events in the world.
It has been the most affected victim of the world centralized economic system that gives power to the banks and financial institution to determine the freedom of how Africans are allowed to have their financial transaction.
Africa, however can be liberated from this imposed economic system that place the financial destiny of a people in the hands of a few select called “institutions”. Only a disruption in the system can liberate Africa from this kind of financial neo-colonialism.
This disruptive initiative is a decentralized form of financial operation that places no limit in an individual’s financial transaction. With the disruptive technology of digital cash offered by Dash and promoted by DASHY AFIRCA, Africans can be assured of a free market where they have full control of their money and right to determine how much they can be in control of as individuals.
Dash Force News recently spoke to Nathaniel Luz, DASH African Ambassador and Project Leader of Dashy Africa, who explained how cryptocurrency is giving power to the people by allowing them to store value without the need for banks or corrupt states issuing fiat.
As DFN reports, Nathaniel said that “Africa has lots of monetary issues that cryptocurrency can solve ranging from inflation, to international trade and remittance” and that many are already “moving their savings to cryptocurrency”. An aspect that has made cryptocurrency so popular is that “[c]ryptocurrency has restored their purchasing power in international trade” illustrated by the fact that it’s now “easier and cheaper to buy from Amazon and pay with DASH than to pay with your bank card” in many African nations.
As DASH has the lowest transaction fees and fastest confirmation times, it is a great alternative to cash whose value can drop over 100 percent almost overnight. It also makes it superior to other cryptocurrencies in this same regard.
“Favorite part of DASH is the ability to send and receive money globally, at the fastest, cheapest, private, convenient, and without restriction,” Luz explained.
As DFN reporter, Justin Szilard points out, “the ability of Dash to leverage its unique governance and treasury system in a decentralized collaboration with its community allows Dash to provide tools that help individuals accomplish their own goals by overcoming the crummy economic situation their government has caused.”
Article posted with permission from The Free Thought Project