Developer of Pan African Commerce App Says Cryptocurrencies Critical to Building Black Wealth

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Aug 19, 2021, 13:00 ET

ATLANTA, Aug. 19, 2021 /PRNewswire/ -- Ikechi Nwabuisi, founder & CEO of TRiBL, says cryptocurrencies, like Bitcoin, are critical to building Black wealth at a time when the usage of the currency is exploding around the world.

"Just about everyday someone asks me, 'What does crypto have to do with me?'," said Nwabuisi, who has lined up VISA and crypto firms, Circle Internet Financial & Paxos Brokerage, as his partners. "Let me break it down simply: It has everything to do with you because crypto is here to stay, and is the future of the digital economy. Crypto is the key to building Black wealth."

Nwabuisi lays out five steps to get informed, educated, and empowered to participate in the rapidly expanding digital economy:

Learn as much as you can. Start by reading the Bitcoin White Paper and the book Bitcoin & Black America. Take some time to join crypto communities with other advocates by downloading one or several apps including TRiBL, Telegram, Discord, to name a few. Carve out time to watch crypto podcasts on YouTube i.e., The Gentleman of Crypto, Crypto Tutors, or Black Bitcoin Billionaires
Know these key facts. a) Bitcoin has a limited supply (finite amount) of 21 million; b) Bitcoin cannot be controlled by any single entity. Computers determine the validity of every transaction on the platform c) Cryptocurrencies cannot be banned by governments though they will try. Anyone can own a decentralized crypto wallet.
Trust Crypto. It's decentralized. It removes 3rd party financial institutions. Bitcoin's not racist and there's no single entity in control.
Know the key players. It will be helpful for you to understand who are the big names in this new economy. Here are four: Bitcoin - the most successful cryptocurrency to date; Ethereum - an open network, many crypto technologies are built on Ethereum's blockchain including Stablecoins and NFTs; USDC - the most prominent stablecoin, digital dollars; and Guapcoin - Black-owned Blockchain inspired by Black Wall Street
Embrace the new path to build Black wealth. Bitcoin will be the key driver for commerce on the internet. Black communities dominate the internet, and Bitcoin will be the tool for them to best monetize their dominance globally. There will be increasing efforts to create, store, and transfer wealth across the internet. The good news is that Bitcoin is a great way to store and grow wealth. Stablecoin is a great way to store and transfer wealth (combats inflation because it's benchmarked to the dollars. And NFTs are a great way to create, store, and transfer wealth (digital art). It's also a great way to track ownership, authenticity, and rights.