Ethiopia Set to Become Bitcoin Leader: Innovation and Adoption on the Rise

• Bitcoin Magazine published an article about Ethiopia’s potential to turn to Bitcoin as inflation numbers rose.
• Yilak Kidane ran a full Bitcoin node using a Raspberry Pi 4 and live streamed the process from Addis Ababa.
• An introductory class titled “Bitcoin 101” was held in Addis Ababa to increase education and adoption of Bitcoin.

In 2022, the global Bitcoin community experienced a resurgence of excitement and growth, particularly in Africa. With a much younger population than many other continents, the 54 countries of the continent are increasingly primed for Bitcoin. One of the most promising nations for Bitcoin adoption and innovation is Ethiopia, with a slew of news and highlights that have emerged over the past year.

The year started with a powerful statement from Project Mano, a publication from Bitcoin Magazine. In the article, “Suppressed by World Superpowers, Ethiopia Should Turn To Bitcoin”, the publication notes that Ethiopia’s inflation numbers had reached 35.1% and 41.6% for food inflation. This was a strong call to action for the nation to explore Bitcoin and its potential to mitigate the effects of inflation.

Yilak Kidane, a Bitcoiner from Ethiopia, responded to this call to action by running a full Bitcoin node using a Raspberry Pi 4 and live streaming the process from Addis Ababa. This was a powerful show of support for the power of Bitcoin, and an inspiration to other Bitcoiners in the nation.

The Prime Minister of Ethiopia, Dr. Abiy Ahmed, also lent his support to Bitcoin in the country. At an inaugural celebration for the Commercial Bank of Ethiopia, Ahmed encouraged the bank’s institutional bankers to research innovative technologies “like cryptocurrencies”.

The Grand Ethiopian Renaissance Dam (GERD) also began producing energy in the first quarter of the year. This massive hydroelectric project is expected to harness 6,450 megawatts of energy, and is a major milestone for the nation.

In response to the growing interest in Bitcoin, an introductory class titled “Bitcoin 101” was held in Addis Ababa. The class was inspired by books from Bitcoin-focused authors like Jimmy Song, Andreas Antonopoulos and Saifedean Ammous, and was aimed at increasing education and adoption of Bitcoin in the country.

The second quarter of the year saw a few key publications and articles about Ethiopia’s potential to adopt Bitcoin. BTC Times published “Ethiopia’s Best Chance At Adopting Bitcoin”, while Project Mano delved further into the possibilities of Bitcoin in the nation with “How Ethiopia Could Capitalize On Bitcoin”.

As the year comes to a close, it’s clear that Ethiopia is poised to become a leader in Bitcoin adoption and innovation in the coming years. With a population that is eager to explore the possibilities of Bitcoin and a government that is supportive of its development, the future of Bitcoin in Ethiopia is bright.