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BTC in Somaliland: Introducing Crypto-payment systems to vendors in the third-world

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by COINS NEWS 87 Views

Hi all,

It is well known that BTC is effectively the gold of the internet, please read my potential theory and if you can help me answer difficult questions regarding the issues of BTC.

Background Information:

Here in Somaliland we do not have a recognised currency, we use the Somaliland Shilling as the state does not use the Somali-Shilling meaning we have 0 access to the SOS-World currency link.

To bypass this issue we effectively use the USD-Somaliland Shilling peg, a system alike to the Oil-USD peg by Arabian Gulf states.

80% of the vendors use a system called ZAAD which is a mobile payment system.

Current issues crypto-payments would face in Somaliland: (Maybe you can help here?)

  • How do vendors cash out crypto capital into USD, would the Bank of Somaliland have to verify payments

  • Due to the lack of Banking infrastructure, Can the common Somaliland Citizen open a Paypal. Is paypal open to the African markets

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When I am completed with my research paper I will release it for all to see and credit any users who help.

Kind regards,

submitted by /u/Active-Deal-6123
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