We need to move a lot faster on Global South Bitcoin adoption — Paxful CEO

Cointelegraph hit the gym with Ray Youssef, co-founder and CEO of Paxful, to tackle Bitcoin adoption in the Global South. In between sets and a little out of breath, Youssef told Cointelegraph, “The Global South is where we should be looking” for Bitcoin adoption.

“The good news is we have a few tools at our disposal. We have the internet, we have mobile phones, and now, we have Bitcoin peer-to-peer, electronic cash.” “The telcos have shown us the path, but we aren’t listening. We’re still trying to replace banks with wallets, and that is not the path to a billion citizens. We need something more.”

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South African grocery giant ‘Pick n Pay’ intends to accept Bitcoin in all stores nationwideThe supermarket chain allegedly experimented with Bitcoin payments for years before announcing plans for a nationwide rollout. Bitcoin is definitely not useful as payment because it has limited supply. It's a scarce asset. Who will want to exchange their scarce asset for day to day consumption! What else do they have to say? Could they say no? This is old news from 2019 when they initially started talking about this, it's 3 years later and still NOT accepting any form of crypto payments.
Source: Cointelegraph - 🏆 562. / 51 Read more »