Former Twitter CEO and Bitcoin advocate Jack Dorsey believes that Bitcoin mining has the potential to bring economic growth and prosperity to Africa and the developing world. He has actively invested in Bitcoin development on the continent through his non-profit organization, Btrust Builders, which he co-founded with Jay-Z. In a recent interview with Bitcoin Magazine, Dorsey, along with Luke Dashjr, the co-founder of Ocean Mining, a decentralized mining pool, discussed the future of Bitcoin globally.

Dorsey emphasizes the role of Bitcoin mining in Africa, particularly in terms of providing renewable energy and improving lives through an abundance of power. He cites an example of Gridless, a company operating in Kenya, which uses natural runoff to create hydro plants that supply power to villages outside of Nairobi. By subsidizing the electricity cost through Bitcoin mining, Gridless ensures that people have access to affordable electricity, enhancing their lives significantly. This approach is not only renewable but also facilitates the utilization of untapped energy sources for the benefit of local communities.

"If we can find ways to subsidize power generation in Africa through Bitcoin, while also adding resilience to the network, everybody wins. There's no downside,” Jack Dorsey said.

Dorsey believes that finding relevant use cases, such as remittance, will make Bitcoin increasingly valuable and drive its adoption. He highlights the challenges associated with traditional remittance services, like Western Union, in Africa and other regions. By leveraging Bitcoin, these blockades and gatekeepers can be bypassed, allowing for cost-effective and efficient cross-border transactions. Dorsey sees remittance as a significant use case that paves the way for Bitcoin to become a viable currency for everyday transactions, both in Africa and globally.

According to Chainalysis, Sub-Saharan Africa remains the region where Bitcoin dominates transaction volume more than anywhere else in the world. This data suggests that residents in this region are turning to Bitcoin as an alternative store of value. The growing adoption of Bitcoin in Sub-Saharan Africa indicates its potential to drive economic development and financial inclusivity.