{"id":561137,"date":"2023-03-08T22:00:00","date_gmt":"2023-03-08T19:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/why-senegal-rejects-the-cfa-and-is-warming-to-bitcoin-video\/"},"modified":"2023-03-08T22:00:00","modified_gmt":"2023-03-08T19:00:00","slug":"why-senegal-rejects-the-cfa-and-is-warming-to-bitcoin-video","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/why-senegal-rejects-the-cfa-and-is-warming-to-bitcoin-video\/","title":{"rendered":"# Why Senegal rejects the CFA and is warming to Bitcoin: video"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_89 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6af45803ba226\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6af45803ba226\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/why-senegal-rejects-the-cfa-and-is-warming-to-bitcoin-video\/#%E2%80%9D_Why_Senegal_rejects_the_CFA_and_is_warming_to_Bitcoin_video_%E2%80%9C\" >&#8221; Why Senegal rejects the CFA and is warming to Bitcoin: video  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Why_Senegal_rejects_the_CFA_and_is_warming_to_Bitcoin_video_%E2%80%9C\"><\/span>&#8221; Why Senegal rejects the CFA and is warming to Bitcoin: video  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-48054ca8>Cointelegraph goes to Senegal, West Africa. The medium-sized African nation recently hosted a Bitcoin conference (BTC) and more and more merchants and customers are joining the Lightning Network.\u00a0<\/p>\n<p>Armed with a camera, a lightning wallet and a microphone, Reporter Joe Hall took to the streets of Senegal to peer under the surface of Bitcoin adoption in the capital city, Dakar.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-03\/d4126503-cc68-45c7-8597-9d0d0dea0010.\"><\/figure>\n<p>As the Cointelegraph <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Youtube<\/a> video highlights, Senegal has a young, digitally native population and in recent years, its become second nature for people to send money via mobile phones rather than banks. <\/p>\n<p>A mobile money provider called Wave, for example, began in 2017 in Senegal and has since expanded to other countries in West Africa. It now boasts millions of users.\u00a0<\/p>\n<p>Much like Bitcoin, the mobile money revolution attempts to bank the unbanked and improve financial conditions for financially underserved populations. Its user experience is quite similar to sending money over Bitcoin\u2019s Lightning Network, in that you scan a QR code or send money to a number, however, mobile money charges anything from 1 to 3% and can take a few minutes to confirm. It\u2019s therefore a useful tool, but too costly for microtransactions.<\/p>\n<p>In the video, Hall sends Bitcoin over the Lightning Network to a manager at Wave, who showed interest and surprise at the Bitcoin Lightning Network\u2019s efficacy. In fact, many Senegalese were interested in receiving, acquiring or learning how to custody Bitcoin. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-03\/21a1637a-5e81-47d9-9467-561f9d770855.jpg\"><figcaption style=\"text-align: center;\">Speakers at Senegal&#8217;s first major Bitcoin conference, DakarBtcDays.<\/figcaption><\/figure>\n<p>The Dakar Bitcoin Days conference underscored the Senegalese\u2019 interest in learning about and using Bitcoin. Founded by Nourou, Dakar Bitcoin Days is part of Bitcoin Sen, another pocket of budding Bitcoin activity in West Africa. <\/p>\n<p>However, the overarching reason which could lead to greater Bitcoin adoption in Senegal is breaking the monetary chains of its colonial past. <\/p>\n<p><strong><em>Related: \u2018We don\u2019t like our money\u2019: The story of the CFA and Bitcoin in Africa<\/em><\/strong><\/p>\n<p>In 1994, the value of the local currency, the CFA was sliced in half by a combination of efforts from France, the IMF and the World Bank. Senegalese fiat savings were decimated. <\/p>\n<p>The scars of this monetary collapse and its residual regime remain in west africa and Senegal. The CFA money is not sovereign and it disempowers and disenfranchises people. <\/p>\n<p>That\u2019s why people are looking for alternatives, and some are turning to Bitcoin. <\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/why-senegal-rejects-the-cfa-and-is-warming-to-bitcoin-video\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Why Senegal rejects the CFA and is warming to Bitcoin: video &#8220; Cointelegraph goes to Senegal, West Africa. The medium-sized African nation recently hosted a Bitcoin conference (BTC) and more and more merchants and customers are joining the Lightning Network.\u00a0 Armed with a camera, a lightning wallet and a microphone, Reporter Joe Hall took&#8230;<\/p>\n","protected":false},"author":1,"featured_media":561138,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-03\/fcc38b2a-467f-462e-982a-9a8b7b297fad.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,75029,25562,87110,91527,70588,49],"class_list":["post-561137","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-lightning-network","tag-africa","tag-lightning","tag-senegal","tag-video","tag-youtube"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/561137","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=561137"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/561137\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/561138"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=561137"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=561137"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=561137"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}