BitcoinKe came into existence base on the belief that the blockchain can perfectly act as the main foundation for the third generation internet. It focuses on increasing the use of Bitcoin and boosting the world’s economy in one way or the other.
What is BitcoinKe?
BitcoinKe is a modern digital financial website that deals with Bitcoin. It mainly focuses on reporting on the state of Blockchain in Kenya. It also sends out information concerning the different blockchain startups in the country. In addition, it focuses on sending out up to date cryptocurrency information that has the ability to improve on the economic state of the country.
Reasons why BitcoinKe believes that Bitcoin can improve on the economy of Kenya
While many people are perceiving Bitcoin as a currency which will revolutionize the world’s economy, others are still trying to understand why and how bitcoin can eventually improve the world’s economy. From all points of views, BitcoinKe holds to its belief that the world can be a better place through the use of Bitcoins. That’s why they took the initiative to begin with Kenya. So let’s see how bitcoin can improve the economy of Kenya.
How Bitcoin Ke Contributes in the Kenyan Blockchain Technology
Eliminating the need for middlemen
One of the outstanding features of Bitcoin unlike traditional currency is that it does not require an intermediary. This means that it does not make use of a centralized governing body or a third party. Hence, you’ll not need to worry about having somebody sitting behind the curtain and observing your financial transactions. By eliminating the need for middlemen, transactions are rendered superfast. This implies that you will no longer have to spend much time in sending and receiving money as it was previously the case with fiat currencies.
Enabling more international transactions
In as much as there are over 2 billion people around the world that do not have bank accounts, there are so many Kenyans who are involved. Hence sending money back to Kenya through local banks is quite challenging. But with the adoption of Bitcoin, transactions are made very easy between Kenya and the rest of the world. This eventually boost the economy of the country.
Removing barriers to entries
The use of cryptocurrencies has enabled entrepreneurs to bypass most of the traditional routes which were initially used in raising capital for blockchain-related businesses.
Bitcoin improves on transaction cost and conversion rate
Carrying out transactions with a traditional bank turns to be costlier. In addition, their currency conversion rate is always high. But Bitcoin came into overcome these issues and has the ability to encourage more financial transactions thereby boosting the economy of Kenya.