• Bitcoin Magazine published an article in the first quarter of 2022 encouraging Ethiopia to turn to Bitcoin due to its high inflation rates.
• Yilak Kidane ran a full Bitcoin node using a Raspberry Pi 4 and live streamed the process from Addis Ababa.
• Dr. Abiy Ahmed, the prime minister of Ethiopia, encouraged the country’s institutional bankers to research innovative technologies “like cryptocurrencies.”
In 2022, Ethiopia was poised to take a leading role in Bitcoin adoption and innovation. The country was already making strides in the cryptocurrency world, with Bitcoin Magazine publishing an article in the first quarter of the year that encouraged the nation to turn to Bitcoin in the face of its high inflation rates. Yilak Kidane further demonstrated the potential of Bitcoin in Ethiopia by running a full node using a Raspberry Pi 4 and live streaming the process from Addis Ababa.
In addition, the Prime Minister of Ethiopia, Dr. Abiy Ahmed, showed his support for cryptocurrencies by encouraging the country’s institutional bankers to research innovative technologies like Bitcoin. This was followed by the launch of an introductory Bitcoin class, which was designed to educate the public and pave the way for greater cryptocurrency adoption.
The year also saw the successful launch of the Grand Ethiopian Renaissance Dam (GERD), which harnessed 6,450 megawatts of energy and was expected to play a major role in the country’s economic growth. This was seen as a major step forward for the country, as it had the potential to provide the citizens with the necessary resources to take advantage of the emerging cryptocurrency markets.
Overall, it was an encouraging year for Ethiopia, with the country showing its commitment to the cryptocurrency world and its potential to become a leader in Bitcoin adoption. With the support of the Prime Minister, the successful launch of the GERD and the education efforts to increase public awareness, it is likely that Ethiopia will continue to make great strides in the cryptocurrency world in the years to come.