Rich countries need M-Pesa. The mobile money system developed in Kenya would be a lot better than bitcoin or even a regular bank account for most things.

Rich countries need M-Pesa. The mobile money system developed in Kenya would be a lot better than bitcoin or even a regular bank account for most things.

M-Pesa is not an electronic currency as such. In every country where Vodafone has introduced it, the system uses local fiat money, which the operator keeps in banks. Rather, it is a substitute for debit cards and mobile banking apps

http://www.bloombergview.com/articles/2014-03-31/forget-bitcoin-african-e-money-is-the-currency-killer

Convenience banking, Nairobi-style. Photographer: Trevor Snapp/Bloomberg  

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