The Canadian singer, composer, multi-instrumentalist, and producer Mac DeMarco released a new video “The Silent Bitcoin Revolution of Africa” on his YouTube channel. In the video, he intends to bring the attention of the audience to South Africa’s financial repression as well as the potential of bitcoin, which will help them recover from their difficult condition.
Notably, DeMarco began his video by marking the struggles of the country, explaining:
Africa has one of the most fragmented banking payment and currency systems in the whole world. This makes the simple financial task like the payment of a bill, sending money or accepting money extremely hard.
In addition, DeMarco states that more than half of South Africa doesn’t have access to bank accounts. This difficulty led the people to keep everything in cash, creating the possibility of being stolen often. In addition, transactions are also quite difficult as the internet access is so pathetic.
However, DeMarco pointed out that the “adoption of bitcoin has the potential to bring financial freedom and opportunity to the people of South Africa”.
In the Youtube video, DeMarco pointed out that:
But there is a silent revolution which is creating an alternative by the way and a new form of money is resolving all of these issues and it’s known as Bitcoin.
While DeMarco visited Mossel Bay in South Africa, he came to know about the versatile uses of bitcoin there. He came across an education center that teaches the significance and the use of bitcoins to the children of underdeveloped South African regions.
Interestingly, the influencer explained that the children learn from the basic ideas of bitcoin to its every aspect finally getting access to the broader accounts, which the older generations were denied. The people of South Africa talked about how their earnings are safe when they receive them as bitcoins rather than fiat currencies as before.
Finally, DeMarco narrated his meeting with a person called Carel, at the headquarters of Pick n Pay, the second-largest South African retail chain. He talked about how Carel helped in introducing a bitcoin payment option in Pick n Pay.
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