International Journal of Cryptocurrency Research
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Volume 2, Issue 2, December 2022 | |
Short CommunicationOpenAccess | |
Blockchain Challenges in Africa |
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Anna V. KUKUSHKINA1*, Valery I. SALYGIN2, Renat A. PERELET3 and Araz O. MURSALIEV4 |
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1Associate Professor, Moscow State Institute of International Relations, Moscow, Russia. E-mail: a.kukushkina@inno.mgimo.ru
*Corresponding Author | |
Int.J.Cryp.Curr.Res. 2(2) (2022) 22-25, DOI: https://doi.org/10.51483/IJCCR.2.2.2022.22-25 | |
Received: 19/06/2022|Accepted: 13/11/2022|Published: 05/12/2022 |
In Africa, cryptocurrency tends to be sold with a large trade margin which can even reach 100% due to several reasons. Firstly, bitcoin in Africa is very difficult to mine because of the climate and lack of infrastructure. Also, cryptocurrency is in big demand in Africa as national currencies are vulnerable to hyperinflation. Besides that, since there are only a small number of virtual currency retailers they are able to set high prices. The relative financial stability of digital money and the opportunities for profit make cryptocurrencies very popular in Africa.
Keywords: Climate change, Africa, Cryptocurrency, Blockchain platform, Digital money
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