My understanding is that M-Pesa is used in Kenya and Tanzania, which mathematically can't be the majority of the continent.
M-Pesa uses local currencies, which frequently lose their value in non-OECD countries.
M-Pesa uses local currencies, which frequently lose their value in non-OECD countries.
> M-Pesa uses local currencies, which frequently lose their value in non-OECD countries.
The outrageous swings of bitcoin hour by hour have the same issue. I don't see how using the USD, like Zimbabwe did to prevent inflation coupled with M-Pesa wouldn't be a better solution if you are suggesting the country move to a new system.
Bitcoin loses, at worst, maybe 50% of its value over the course of a few weeks. The Zimbabwe dollar lost 99.99% of its value over the course of a few weeks.
Of course, on larger time scales, the volatility of Bitcoin has been in a distinctly upward direction. So yeah, I guess Bitcoin has kind of the opposite problem of the Zimbabwe Dollar (if you can call it a problem).
And then, of course, Bitcoin will probably stabilize over time. New currencies are not historically stable.
Now the penetration may not be as deep in the other countries as in Kenya but that will change.