💨 Abstract

In Kibera, Kenya's largest urban slum, around 200 people in the Soweto West neighborhood use bitcoin for transactions, an initiative by AfriBit Africa to boost financial inclusion. Bitcoin's appeal lies in its accessibility and lack of documentation requirements, but experts warn of its volatility and regulatory risks. The initiative began with bitcoin payments to garbage collectors, who then spread its use. While some residents prefer bitcoin for lower fees and security, concerns remain about overexposure to a volatile asset.

Courtesy: WTOP Staff