Jack Dorsey, co-founder of Twitter and Block, recently spoke at the Africa Bitcoin Conference 2024 held in Nairobi, Kenya on December 10-11, 2024. During his keynote address, Dorsey emphasized Bitcoin's potential to empower individuals and transform economies across the continent. He noted that over 60% of Africans remain unbanked, yet many have access to smartphones, which positions Bitcoin as a viable alternative to traditional banking systems. Dorsey wore a T-shirt emblazoned with 'Satoshi' to honor Bitcoin's creator, Satoshi Nakamoto, and highlighted how Bitcoin can promote financial inclusion by bypassing conventional banking barriers.
In addition to his advocacy for Bitcoin, Dorsey stressed the importance of sustainable Bitcoin mining practices, suggesting that they could create jobs and stimulate local economies. The conference showcased various initiatives aimed at increasing Bitcoin adoption within Africa, reflecting a growing interest in cryptocurrency as a tool for economic empowerment. Dorsey's participation in the conference aligns with his broader vision of utilizing Bitcoin to foster innovation and decentralization in financial systems.
This event comes on the heels of Dorsey's initiative, Start Small, which recently donated $21 million to the Bitcoin nonprofit Opensats to bolster its development. The funding is intended to enhance Opensats' capabilities in creating open-source software for the Bitcoin network, further supporting Dorsey's commitment to the cryptocurrency's growth and accessibility. As Dorsey continues to champion Bitcoin, his recent remarks at the Nairobi conference underscore the significant role that cryptocurrency could play in addressing financial disparities in Africa.