• Ethiopia has become increasingly primed for Bitcoin adoption due to a growing arsenal of educators, advocates and developers.
• In the first quarter of 2022, Bitcoin Magazine published “Suppressed by World Superpowers, Ethiopia Should Turn To Bitcoin” and Yilak Kidane ran a full Bitcoin node using a Raspberry Pi 4.
• Prime Minister Dr. Abiy Ahmed encouraged the country’s institutional bankers to research innovative technologies such as cryptocurrencies, while an introductory class titled “Bitcoin 101” was held in Addis Ababa to increase education and adoption.
The year 2022 was an exciting one for the global Bitcoin community, especially for African Bitcoiners. With a large population that is significantly younger than other continents, the 54 countries of Africa are well-positioned to take advantage of the benefits of Bitcoin, and Ethiopia is a prime example of this.
In the first quarter of the year, Bitcoin Magazine published an article entitled “Suppressed by World Superpowers, Ethiopia Should Turn To Bitcoin”. This came as no surprise as inflation numbers for the nation had reached 35.1% and 41.6% for food inflation. Yilak Kidane also ran a full Bitcoin node using a Raspberry Pi 4 and live streamed the process from Addis Ababa.
At an inaugural celebration for the Commercial Bank of Ethiopia at its headquarters building, Prime Minister Dr. Abiy Ahmed encouraged the country’s institutional bankers to research innovative technologies such as cryptocurrencies. This was met with enthusiasm from the Bitcoin community, who were further encouraged by the inauguration of the Grand Ethiopian Renaissance Dam (GERD). The project harnesses 6,450 megawatts of energy and the first turbines began producing energy in the first quarter.
An introductory class titled “Bitcoin 101” was held in Addis Ababa in order to increase education and adoption of Bitcoin in the country. This was inspired by books from Bitcoin-focused authors like Jimmy Song, Andreas Antonopoulos and Saifedean Ammous, who have proven to be important resources for the global Bitcoin ecosystem.
BTC Times also published an article entitled “Ethiopia’s Best Chance At Adopting Bitcoin”, which further highlighted the potential of this African nation to become a leader in Bitcoin adoption and innovation. It is clear that Ethiopia has a great opportunity to benefit from Bitcoin and the cryptocurrency space as a whole, and the country is taking the necessary steps to make this a reality. With the right conditions, Ethiopia could become one of the most successful adopters of Bitcoin in the world.