Is it possible to create a cryptocurrency for Somalia?

[Prime Minister]

What are your thoughts about this.

 

[Cerberus]

Surprised you didn't get any replies. I can do it, but can it gain traction is the real question? because we can just easily send money to relatives and friends in a decentralized way, but governments may try and black it for fear of terrorism funding. They may get government to ban use of it.

 

[Prime Minister]

Surprised you didn't get any replies. I can do it, but can it gain traction is the real question? because we can just easily send money to relatives and friends in a decentralized way, but governments may try and black it for fear of terrorism funding. They may get government to ban use of it.

The point of cryptocurrency is no fees so it would solve that problem so why shouldn't it gain traction and what's stopping it?

 

[Villainess]

We can’t even handle normal money yet you want us to expand into that?

 

[Kingmufasa]

I actually think it's possible, Somalia's transaction are one of the most digitalised, their currency is pretty non-existent. If a country was gonna adopt/create a crypto as currency somalia would be a good place to start.

 

[Cerberus]

I actually think it's possible, Somalia's transaction are one of the most digitalised, their currency is pretty non-existent. If a country was gonna adopt/create a crypto as currency somalia would be a good place to start.

I can create it but how do we get adoption and usage for everyone to use easily? And people will need data to be able to use the transactions. If they run out of data they will have to look for WiFi to be able to use the transactions. It isn't hard to spin off an alt coin for custom usage and some may have already tried.

 

[Kingmufasa]

Data in somalia has become extraordinary cheap and widespread in the last 2 years, Adoption would be easy if its presented as a national currency, for example now in puntland regions the people don't want to accept shilling somali as its highly inflated but the state government is trying to force business to accept it, which closed down in protest.

 

[ReerVanCadde]

Lol, actually i know a few people who tried this a few years back, think 2016/2017. Its indeed possible since everyone uses their phone to pay for stuff anyway. It ran into some problems though we actually got a meeting with the dahabshiil guy and a somali bank and looked at the feasibility of it.
I would point you to estonia, i think some guys tried creating a coin there around the same time as us.

 

[Prime Minister]

Lol, actually i know a few people who tried this a few years back, think 2016/2017. Its indeed possible since everyone uses their phone to pay for stuff anyway. It ran into some problems though we actually got a meeting with the dahabshiil guy and a somali bank and looked at the feasibility of it.
I would point you to estonia, i think some guys tried creating a coin there around the same time as us.

What were the problems?

 

[Cerberus]

What were the problems?

Man I think we need a way for crypto to generate free coins for people doing stuff like cleaning up street. This way if they get something of value in return for monthly clean up day, we can turn Mogadishu into another Kigali like clean city.

Am sure the western world will back it up and even buy them to increase their value. If they hear environmental friendly stuff.

 

[Prime Minister]

Man I think we need a way for crypto to generate free coins for people doing stuff like cleaning up street. This way if they get something of value in return for monthly clean up day, we can turn Mogadishu into another Kigali like clean city.

Am sure the western world will back it up and even buy them to increase their value. If they hear environmental friendly stuff.

I like that idea but can they spend it and would it be accepted?