The Lightning Network will drive widespread Bitcoin adoption across Africa. In countries where the majority of the population is unbanked, national currencies are not a safe store of value.
Bitcoinβs Lightning Network allows transactions with virtually zero fees and enables nearly instantaneous cash payments around the world.
Limited access to commercial bank branches and digital banking options make moving money in Africa expensive and complex. Mobile money transactions rose 40% to over $700 billion in 2021.
Bitcoin would eliminate intermediaries, allowing direct digital payments without relying on credit or incurring multiple settlement fees.
The biggest challenge is the lack of infrastructure. Many people around the World do not have access to reliable electricity or the internet.
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