APR 28, 2022
Freedom Day means you are free to use your own money to live your best life,” said BitcoinZAR, a Bitcoin advocate in South Africa.
On Wednesday, South Africa celebrated Freedom Day, which honors the country’s first post-apartheid democratic election in 1994.
Cointelegraph reached out to different notable individuals in the South African crypto community to see what the holiday meant to them. BitcoinZAR, a Bitcoin advocate in South Africa, noted that “Freedom Day means you are free to use your own money to live your best life,” adding:
“We are free on Freedom Day to choose Bitcoin instead of losing value with government money. Stop aiding and abetting state capture, corruption and looting in South Africa. Vote with your money, and buy Bitcoin.”
Several crypto-related firms have sprouted in the nation, including Luno, a cryptocurrency exchange, while some businesses, including retail stores and travel agencies, now take Bitcoin payments.
Luno, which was founded by two South Africans in 2013, has 10 million customers in over 40 countries. The company’s rapid expansion last year was demonstrated by the addition of one million new clients in four months. In 2017, South Africa’s then-largest online retailer, Pick n Pay, began accepting Bitcoin payments at one of its stores, hinting at cryptocurrency’s potential as a form of payment.
Almost 20% of South Africans, according to Borgen Magazine, survive on less than $1.90 a day. Both inequality and poverty in South Africa are exacerbated by widespread corruption. Former President Jacob Zuma oversaw rampant corruption from 2009 to 2018. Zuma is estimated to have cost South Africa at least $35 billion and perhaps more than three million people fell below the poverty line during his term.