The crypto community continues to battle with the current uncertainty within the market as we enter the last month of the first quarter of the year. it is no surprise that many blockchain projects have continued to move towards gaining adoption in different business sectors.
Electroneum (ETN) is no different as the blockchain has continued to champion its aims of bringing blockchain solution to over 2 billion mobile device users. one area in which Electroneum has place emphasis on is towards adoption in developing economies in Africa.
Electroneum (ETN) Looking Dominate In Africa’s Second-Largest Economy
South Africa is the second largest economy in Africa just behind Nigeria and is one of the more developed countries in Africa. Its large population of close to 60 million people makes it a good starting point for the coin as more than 60% of the population owns a smartphone.
It was no surprise that Electroneum chose to launch its latest blockchain mobile device named the M1 in South Africa. The budget smartphone was priced at an affordable fee of $80 and users can make up to $3 monthly for using the device. The mobile device was well publicized and this has seen the blockchain platform attract a bit of interest in the country.
Some Businesses In South Africa Have Begun Accepting ETN For Transactions
The publicity is beginning to bear fruits as some businesses in the country have begun to accept ETN as a mode of payment for transactions.
Electroneum South Africa posted a photo on twitter about a trader informing customers on how to use the crypto platform to pay for services. This is just one of the hundreds of persons that have begun to use the cryptocurrency as a form of payment in their businesses.
It would be interesting to see of the blockchain would be able to thrive in the country like South Africa for its strict regulation for foreign online payment platforms.
Africa is a continent where new innovations tend to begin slowly and catch up quickly it would be no surprise if the coin surges in popularity before the end of the year in the country.