by • Ethiopia is becoming increasingly primed for Bitcoin adoption and innovation due to its young population, growing arsenal of educators, advocates, and developers.
• In the first quarter of 2022, Bitcoin Magazine published a piece on the potential of Bitcoin in Ethiopia, Yilak Kidane ran a full Bitcoin node, Dr. Abiy Ahmed encouraged the country’s institutional bankers to research innovative technologies, Ethiopians inaugurated a massive hydroelectric project, and an introductory class titled “Bitcoin 101” was held in Addis Ababa.
• In the second quarter, BTC Times published an article about Ethiopia’s best chance at adopting Bitcoin, and a partnership between the African Blockchain Institute and the Ethiopian Ministry of Innovation and Technology was announced.
In 2022, the African continent is primed for Bitcoin adoption and innovation due to its young population and growing arsenal of educators, advocates and developers. Ethiopia, in particular, is becoming increasingly ready to embark on this journey, as evidenced by the news and highlights of the year so far.
At the start of the year, Bitcoin Magazine published an article titled “Suppressed by World Superpowers, Ethiopia Should Turn To Bitcoin”. Written by Project Mano, the piece highlighted the potential of Bitcoin in the nation, as inflation numbers had come in at 35.1% and 41.6% for food inflation. Yilak Kidane also ran a full Bitcoin node using a Raspberry Pi 4 live-streamed from Addis Ababa, showing the world that it is indeed possible to operate a Bitcoin node in the country.
In addition, Dr. Abiy Ahmed, the prime minister of Ethiopia, encouraged the country’s institutional bankers to research innovative technologies, such as cryptocurrencies. These comments were made at the Commercial Bank of Ethiopia’s inaugural celebration at its headquarters building. Not long after, Ethiopians inaugurated a massive hydroelectric project, the Grand Ethiopian Renaissance Dam (GERD), as the first turbines began producing energy on a project expected to harness 6,450 megawatts of energy.
In order to further increase education and adoption, an introductory class titled “Bitcoin 101” was held in Addis Ababa. These classes were inspired by books from Bitcoin-focused authors like Jimmy Song, Andreas Antonopoulos and Saifedean Ammous. BTC Times also published an article titled “Ethiopia’s Best Chance At Adopting Bitcoin”, which further outlined the potential of Bitcoin in the country.
The momentum carried into the second quarter, as the African Blockchain Institute announced a partnership with the Ethiopian Ministry of Innovation and Technology. The partnership is set to focus on exploring the potential of blockchain technology, as well as training and education initiatives, to drive development and innovation.
The increasing amount of news and highlights coming out of Ethiopia shows that the country could indeed emerge as one of the leaders in Bitcoin adoption and innovation in the year to come. With the help of dedicated Bitcoiners, educators, advocates, and developers, the country has the potential to revolutionize the global economy and benefit from the power of sovereign money.
