We need to move much faster in adopting Global South Bitcoin: Paxful CEO
"The Global South is where we should be looking" for Bitcoin adoption, Paxful CEO Ray Youssef said. to Cointelegraph in a gym interview.< /p>
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Cointelegraph hit the gym with Ray Youssef, co-founder and CEO of Paxful, to fight Bitcoin adoption in the Global South. Between sets and a little out of breath, Youssef told Cointelegraph, "The Global South is where we should be looking for 'Bitcoin (BTC) adoption.
[embedded content]A New Yorker born in Egypt, Youssef regularly travels to Africa and the Global South to promote Bitcoin and peer-to-peer finance. He is determined to bring Bitcoin to those who live and work across Africa and to undermine the "economic apartheid" created by government-issued fiat currency.
Youssef firmly believes that government-backed fiat currency is a scourge on human progress. He posited, “Creating money is the greatest creative opportunity of any government,” before launching into a rant against Western governments as he pumped iron. Nevertheless, thanks to Bitcoin, people around the world and especially those in the South now have the means to fight against economic repression:
"The good news is that we have a few tools at our disposal. We have the internet, we have cell phones, and now we have bitcoin peer-to-peer electronic cash."
Youssef's company, Paxful, currently has 10 million users worldwide. But the CEO explained that we need to move much faster in order to reach one billion users in the next five to ten years. He cited the explosive growth of telecommunications companies such as M-Pesa in Kenya as examples that adoption can flourish quickly:
"Telecom operators have shown us the way, but we're not listening. We're still trying to replace banks with wallets, and that's not the way to a billion citizens. We need something more."
Ultimately, the key to unlocking emerging market growth is educating citizens...
"The Global South is where we should be looking" for Bitcoin adoption, Paxful CEO Ray Youssef said. to Cointelegraph in a gym interview.< /p>
Video
Cointelegraph hit the gym with Ray Youssef, co-founder and CEO of Paxful, to fight Bitcoin adoption in the Global South. Between sets and a little out of breath, Youssef told Cointelegraph, "The Global South is where we should be looking for 'Bitcoin (BTC) adoption.
[embedded content]A New Yorker born in Egypt, Youssef regularly travels to Africa and the Global South to promote Bitcoin and peer-to-peer finance. He is determined to bring Bitcoin to those who live and work across Africa and to undermine the "economic apartheid" created by government-issued fiat currency.
Youssef firmly believes that government-backed fiat currency is a scourge on human progress. He posited, “Creating money is the greatest creative opportunity of any government,” before launching into a rant against Western governments as he pumped iron. Nevertheless, thanks to Bitcoin, people around the world and especially those in the South now have the means to fight against economic repression:
"The good news is that we have a few tools at our disposal. We have the internet, we have cell phones, and now we have bitcoin peer-to-peer electronic cash."
Youssef's company, Paxful, currently has 10 million users worldwide. But the CEO explained that we need to move much faster in order to reach one billion users in the next five to ten years. He cited the explosive growth of telecommunications companies such as M-Pesa in Kenya as examples that adoption can flourish quickly:
"Telecom operators have shown us the way, but we're not listening. We're still trying to replace banks with wallets, and that's not the way to a billion citizens. We need something more."
Ultimately, the key to unlocking emerging market growth is educating citizens...
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