Africa is the second-largest and second-most-populous continent in the world. It is widely accepted as the earliest place inhabited by modern humans. Africa is home to at least 54 recognized states and is also considered the poorest continent in the world, despite being rich in natural resources. The widespread economic underdevelopment is attributed to a variety of factors, such as corrupt government regimes, frequent military conflict, harsh climate, and lack of access to foreign capital and modern medicine. However, in 2016 this situation is changing rapidly. Economies of African countries are being quickly modernized, displaying annual GDP growth of up to 6%. Bitcoin is one of the major drivers of African economic development, allowing some of the poorest, unbanked inhabitants of the continent access to global capital.

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