Africa usually carries last in most technological advancement. Sorry, if that hurts your feeling, but it is mostly true.
Now, I'm not saying we don't produce great innovative products once in a while, but we do so at an incredibly slow and scanty way.

Bitcoin represented a major breakthrough in decentralised monetary system, and even though the original author remains anonymous, it is clear the system was developed by someone not African. This applies to so many other innovations and inventions over the past century. Not African.

I know there are reasons for this tardiness in technological development in Africa, and I've been trying to fight myself out of it. Definitely not easy when your worldview is totally different from the people around you. Lack of proper structures and facilities combined.

So I started thinking about a cryptocurrency for Africa (and maybe Asia). A cryptocurrency that will take into cognizance that there isn't that much technological exposure/literacy in this continent and then builds around that. Heck, I don't suppose there are that many Africans with mining computers. Heck, I don't even think half of a quarter of African population knows what cryptocurrency is or what it is used for. Bitcoin was definitely not created with Africa in mind. We can only buy or sell. We cannot mine.

Now after coming up with a complicated probable solution to this problem, it suddenly hits me that mass adoption is needed for the currency to gain value. The folks I know who are into cryptocurrency have put their confidence in Bitcoins and some other reputable cryptocurrency so much that, the idea I have may turn to dust as soon as it lands.

I've heard of Africoin and I got excited for it initially. "Finally, a crypto for Africa!" But very quickly, I started questioning the legitimacy of the cryptocurrency. It looks more like a ponzi scheme than a cryptocurrency. With some unverifiable folks holding unto the code and perhaps monitoring/controlling the transactions. Their code repos on github are direct forks of bitcoin repo (which is not particularly bad), but the last commit is 4-3 years old. That raises a lot of questions. What code are they currently using? Is it closed source? A decentralised p2p cryptocurrency requires its code be public for transparency.

Anyway, I turned back to the development of my idea and I sincerely don't know if I`m wasting my time or not. There is a difficult learning curve ahead, studies that may take several months. I'm passionate about creating a crypto for Africa, but I don't know if I'm chasing the right car.

So for the experienced cryptocurrency gurus out there, how feasible is it for an African crypto to become popular, valuable and go head to head with BTC in Africa? Do you think spending months or maybe years to create one is reasonable? The crypto idea clearly has some unique selling points I cannot discuss here.

BTW, creating a successful crypto comes with an incentive. You have the chance on investing large amount early.

You're thinking great, appcypher. Wouldn't it be better to contribute to existing cryptocurrencies, and direct your investment to setting up mining racks in Nigeria?
(Errmm... You've not updated us on astro yet; I'm looking forward to exiting times with that language)

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Appcypher you don't know how happy I am to see that you yourself have thought about this since 2017. Wow!

I've been thinking "When will a Nigerian develop a cryptocurrency like Akon's Akoin? Don't we have I.T professionals in Nigeria who can do it?"

I don't mean something like that suspicious Pinkoin developed by the so-called Universal-Daddy-Ink that can't be found on any cryptocurrency exchange o! Lol.

When will our resourceful Nigerian I.T professionals out there rise to this challenge biko?