A developer of Lightning and Bitcoin from Senegal named Fodé Diop has recently reflected his viewpoint regarding the utter importance of Bitcoin to more than billions of investors across the globe that are even now sufferers of colonialism under the monetary system. He emphasized the most significant role of the open-source technology of Bitcoin being played in the provision of financial sovereignty for those existing in the still-developing world.
He stated that currently, the people of his field have the authority to compete, and such a time has never been in history until 2008 when Bitcoin entered the financial market. He elaborated the point by mentioning that everything can be done as wealth is everything. Emporia-State-University (situated in Kansas) accepted Diop for studying engineering as well as playing basketball being a high-school-senior within Senegal. There was sufficient money saved by his father to give for his tuition. However, before admission, IMF (International-Monetary-Fund) took the money savings according to its deal with France. Presently, the IMF, along with the French authorities, is constantly handling the currency of up to 15 countries of Africa.
Diop revealed that in such countries where there is a chance for the wealth of the investors to be devalued by some other nations, to store the money via utilizing Bitcoin seems to be a better option. Bitcoin was not present when the CFA-Franc (being pegged to the French-Franc) was devalued from being at 1:50 to 1:100 during 1994 following France’s increase of pressure under World Bank and IMF. He further elaborated that the harsh irony related to the economic destiny of Senegal’s millions of citizens being entirely out of their control.
In that scenario, it was impossible for any amount of protests to overthrow those economic masters, as noted by Alex Gladstein from Human-Rights-Foundation. The Bitcoin developer remarked that the native people sensed being robbed as their purchasing capacity was diminished to half suddenly. They were not in any position to amend the situation at all. After the arrival of Bitcoin, Diop encouraged the people to avail themselves of the chance of fighting against the respective monetary colonialism. He is personally quite active in this matter as, in July, he announced to introduce a Bitcoin-Developers-Academy for teaching the students of tech about the applications regarding the development of Bitcoin starting from the basics to the specific programming language.