• Bitcoin Magazine published an article encouraging Ethiopia to turn to Bitcoin as inflation numbers rose.
• Yilak Kidane ran a full Bitcoin node in Addis Ababa and streamed the process live.
• Dr. Abiy Ahmed, the prime minister of Ethiopia, encouraged the country’s institutional bankers to research innovative technologies like cryptocurrencies.
The year 2022 was a remarkable one for Bitcoiners across the globe, and particularly for those in Africa. With a population that is much younger than many other continents, the 54 countries of Africa are increasingly primed for Bitcoin with a growing arsenal of educators, advocates, and developers. Ethiopia, in particular, is a country that could emerge as a leader in Bitcoin adoption and innovation in the coming years, and there were some notable news and highlights that occurred in the first and second quarters of the year.
In March, Bitcoin Magazine published the article “Suppressed by World Superpowers, Ethiopia Should Turn To Bitcoin” by Project Mano. The article detailed how the nation’s inflation numbers had risen to 35.1% and 41.6% for food inflation, and encouraged Ethiopia to turn to Bitcoin as a potential solution. In the same month, Yilak Kidane ran a full Bitcoin node using a Raspberry Pi 4 and live streamed the process from Addis Ababa.
Then, in April, Dr. Abiy Ahmed, the prime minister of Ethiopia, made a statement at the inaugural celebration for the Commercial Bank of Ethiopia at its headquarters building, encouraging the country’s institutional bankers to research innovative technologies like cryptocurrencies. In the same month, Ethiopians inaugurated the 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 May, BTC Times published the article “Ethiopia’s Best Chance At Adopting Bitcoin” and Project Mano also held an introductory class titled “Bitcoin 101” in Addis Ababa in an effort to increase education and adoption. The class was inspired by books from Bitcoin-focused authors like Jimmy Song, Andreas Antonopoulos and Saifedean Ammous.
As the world continues to move towards sovereign money, it is encouraging to see the progress that has been made in Ethiopia and the rest of Africa in terms of Bitcoin adoption and innovation. With the right resources and support, Ethiopia could become a leader in the global Bitcoin space in the years to come.