Bitcoin
Bitcoin is Growing in Morocco and here is a few reasons why
One of the hot spots for crypto growth that I have always known to make a huge dent in mass adoption since the first day I understood blockchain tecnology has been Africa, and more specifically Morocco. Here in Mallorca most inmigrants are from this north African Country. I have several good friends who have settled here in Spain and they originate from Morocco ( most came over on a 50/50 ticket to survival boat ride over the med)
There is a 1000 reasons my Moroccans should embrace bitcoin
The unbanked 59% of Moroccan Adults have no access to a financial service
Forex trading and cross border exchange Moroccans use Bitcoins in cross-border trade, Forex trading and revshare. In recent times we have seen a rise in companies offering cloud mining services. Moroccans have taken full advantage of these companies and have invested a considerable amount of money in them.
Remittances 6.4 billion $ in where transfered to Morocco by inmigrants in 2015.
Narcotics cultivation and transformation of Cannabis represents 1.60% of the national GDP of Morocco
Going cashless Bank Al-Maghrib is the central bank in Morocco and has already published plans to reduce and eventually eliminate the use of cash within the next 5 years.
Islamic Banking Islamic banks and insurers are setting up in Morocco after new legislation allowed them into the market, and the central bank has set up a central sharia board with a body of Islamic scholars to oversee the new sector.
Maybe you can name a few more, I dont have enough battery left on my laptop to complete this never ending list.
I have noticed a huge diference in the way a Moroccan will react when first hearing about bitcoin or any other cryptocurrency than the average Spaniard who lives here, this caught my attention quite a while back. Im always excited to see any growth in the bitcoin area and this is quite exciting, as I cant stop myself to talk about crypto and decentralization many a Moroccan living here in Spain has heard abut bitcoin from me first!
Sorry for the lack of activity but we are currently suffering from a lack of internet due to the idiotic teleco companies running the show here. If we are lucky we should be back online in the next few days!
It warms my heart seeing that Africans are embracing cryptocurrency from South Africa to Nigeria to Morocco.. A lot of businesses are accepting
Cryptocurrency have come to stay the sooner people start accepting the better for them..
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