Re: Message to Ethiopian Government: Start Investing In Crypto
Posted: 22 Feb 2022, 21:28
Roman,
I think you wanted to say cryptocurrency or cryptomoney. Ethiopia is not even using Blockchain technology yet let alone use of enctypted codes as money or investment vehicles. First, Ethiopia needs to build Blockchain technology capacity. We just starting using electronic payment system let alone use of computer codes as means of exchanged and store of value - ie, money. Second, we must first build a blockchain technology which the new version of the Internet. so where you have so few Internet uses such a low level of computing capacity, cryptocurrency trading unimaginable. Third, even to use cryptocurrencies such as bitcoin etc it is the banks and credit companies that start it not the government. Remember cryptocurrency as one of banking service product is totally different from what you see in the west where a community of peer-to-peer users create their own money to as means of trade, store of value and money market stock trading. Banks can build and use it as one of their systems of transaction record keeping because blockchain is the safest record keeping system. That is different from trading in bitcoin as in the west.
I think you wanted to say cryptocurrency or cryptomoney. Ethiopia is not even using Blockchain technology yet let alone use of enctypted codes as money or investment vehicles. First, Ethiopia needs to build Blockchain technology capacity. We just starting using electronic payment system let alone use of computer codes as means of exchanged and store of value - ie, money. Second, we must first build a blockchain technology which the new version of the Internet. so where you have so few Internet uses such a low level of computing capacity, cryptocurrency trading unimaginable. Third, even to use cryptocurrencies such as bitcoin etc it is the banks and credit companies that start it not the government. Remember cryptocurrency as one of banking service product is totally different from what you see in the west where a community of peer-to-peer users create their own money to as means of trade, store of value and money market stock trading. Banks can build and use it as one of their systems of transaction record keeping because blockchain is the safest record keeping system. That is different from trading in bitcoin as in the west.