Accessing money—one of life’s essentials—can be tough in the Third World. Since starting my trip through Africa, as part of a 1.5-year trip through the Global South, I’ve faced near-constant frustrations. ATMs charge high fees, don’t work, run out of money, or have small daily cash dispensing limits. Payment apps don’t work, especially for international transfers. Western Union wires can’t be released because they get flagged in these countries. It’s even harder for natives who have limited technology access. It’s the result of governments controlling money and banking—with the rules and regulations that predictably follow—and begs the question of whether private sector cryptocurrency will ever become a viable replacement.
Read More: Challenges Faced by Developing World Banking Systems