Bitcoin vs Economic Imperialism with Erik Hersman

“We really have to look at what people need and what people will use, and go to them and do real things that matter in their lives instead of having some fantasy of what we think people will want.”— Erik HersmanErik Hersman is a co-founder of Gridless. In this interview, we discuss Africa, focusing on economic issues like inflation, devaluation and people’s struggles to make a living. We talk about Bitcoin’s potential to create economic opportunities in Africa, the importance of building products that meet the needs of people and provide real value, and the use of mobile money. Finally, we cover Bitcoin mining in Africa and its impact on energy infrastructure.- - - - On previous podcasts, we’ve had the pleasure of interviewing Erik Hersman to better understand how his company, Gridless, is partnering with East African communities in need of energy to provide subsidised power using Bitcoin mining. Last week we had the incredible honour of being invited to visit one of Gridless’s operational sites in Malawi. This will be included in a forthcoming film we will release in 2024. But, we used the opportunity to record another interview with Erik.Being here, in person, allowed us to gain a better understanding of the context and ask relevant questions. We were not just discussing abstract concepts; we were seeing them first-hand and interviewing people on the ground. As per our previous podcast with Femi Longe, this interview has provided us with valuable insights into the Bitcoin story in Africa.We delved into the challenges and complexities of addressing the historical and current inequalities between Western countries and Africa, and why such inequalities are being allowed to perpetuate. Erik and I talk about why there is a belief in the potential of Bitcoin to create economic opportunities in Africa. We covered the challenges of implementing Bitcoin-focused initiatives, the need for a comprehensive plan and how Bitcoin adoption in Africa. Erik emphasized the importance of building products that meet the needs of people and provide value in their lives, rather than creating products based on assumptions or fantasies. We consider some of the plenty of examples of unique innovations utilising Bitcoin across Africa that address real needs. We also cover the concerns of government surveillance of mobile money that Bitcoin could help address. Finally, Erik explained how Gridless has helped communities in Kenya and Malawi increase their usage of hydropower. This has led to financial and energy sustainability for such communities, but more fundamentally, it has also provided families with electricity for the first time. Erik emphasised the amazing potential for Bitcoin mining to bootstrap renewable energy infrastructure in Africa. As he stated “There's nothing to fight against here. It's good for everyone.”- - - - This episode’s sponsors:Iris Energy - Bitcoin Mining. Done Sustainably Bitcasino - The Future of Gaming is hereLedger - State of the art Bitcoin hardware walletWasabi Wallet - Privacy by defaultUnchained - Secure your bitcoin with confidenceOrange Pill App - Stack friends who stack satsSwan Bitcoin - Invest in Bitcoin with Swan-----WBD749 - Show Notes-----If you enjoy The What Bitcoin Did Podcast you can help support the show by doing the following:Become a Patron and get access to shows early or help contributeMake a tip:Bitcoin: 3FiC6w7eb3dkcaNHMAnj39ANTAkv8Ufi2SQR Codes: BitcoinIf you do send a tip then please email me so that I can say thank youSubscribe on iTunes | Spotify | Stitcher | SoundCloud | YouTube | Deezer | TuneIn | RSS FeedLeave a review on iTunesShare the show and episodes with your friends and familySubscribe to the newsletter on my websiteFollow me on Twitter Personal | Twitter Podcast | Instagram | Medium | YouTubeIf you are interested in sponsoring the show, you can read more about that here or please feel free to drop me an email to discuss options.