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What makes Botswana Africa’s Economic miracle isn’t the fact that Botswana has the Second largest diamond reserves, with an annual rate of 20.9 million carats, and that it only has to share this enormous wealth with a tiny population of only 2.4 million. I believe in understanding it; we must look back into the year.
In 1889, when Rhodes was elected to be the Prime Minister of Cap Colony, he used his political power to expand the British empire into Rhodesia into modern-day Zambia and Zimbabwe, my home country. This made the Rhodesia empire infect Rhodes land, Hence the name, and allowed Rhodes to be free to exploit the native population to his heart’s desires.
Cecil Rhodes then ought out Botswana;
However, after witnessing what happened to Rhodesia, the chiefs feared and acted. They knew that rule by Rhodes would cause devastation and extreme exploitation. So on September 6th, 1895. African leaders from the three Tswana tribes docked off the southern coast of England. To insist on being under the direct control of the Crown rather than bring the personal property of Cecil Rhodes. The chiefs spoke all over England.
Botswana became an official colony of the British empire. Under conditions, the Tswana chiefs were to rule people in the same way they had ruled before. By shielding themselves from any further colonial exploitation, the Tswana chiefs had protected something fundamental.
Botswana’s Unique system of Governing themselves
The Chiefs ruled the land by this motto: The King is the King by the grace of the people.
The Tswana chiefs ruled the land, but they had to do so with the oversight of the general population’s wishes and desires. Assemblies were frequent and integral to the running of the tribe members. No matter their standing, all men were heavily encouraged to speak there, and it was not rare for a chief’s wishes to be overruled by public opinion. With the interplay between history and a little luck, these democratic institutions survived British rule—the first divergence between Botswana and sub-Saharan Africa.
Botswana has largely avoided The resource curse many countries, including Angola, Venezuela, and the Democratic of Congo, have experienced. But it still suffers from being heavily dependent on the Diamond industry. 89% of all exports are diamonds, 25% of the GDP is diamond mining, and 50% of all government revenue comes from the diamond industry.
Bitcoin fixes everything, this time by offering gains and, as always, hoping they will stay for the Revolution:
We at Proof of Resiliencies have partnered up Money-on-Chain and RSK. To grow resilient Bitcoin communities in Africa and have gone out of their way to encourage these developments. RSK: The Smart contracting platform that enables decentralized finance to build on top of Bitcoin agrees with one of the Botswana government plans.
RSK offers digital jobs to individuals worldwide and here in Botswana to build a more digital economy. Such as ambassador programs and jobs as developers. These jobs will allow individuals to dedicate their lives to cultivating Bitcoin families in their local cities, educate each other through meetups and enable creative individuals to monetize their talents and produce Bitcoin content online finally. We are creating a new industry that will change and improve how people trade, bank, earn and live today by returning control to the individuals.
RSK offers to pay their employees with the Dollar-on-Chain Stablecoin: The first ever overall collateralized Stablecoin 100% backed by bitcoin that has a hard peg to the US dollar (1 DOC:1 USD). Please note a significant difference between creating this account and receiving their pay. Citizens didn’t have to give any personal information, no requirements besides just having a phone. Also, now citizens can self-custody their Bitcoin or Stablecoin built on Bitcoin and have complete control of the asset. This will give them access to the most powerful computing system ever created by man, providing them with security, at no cost, to the end user.
Botswana understood the importance of not having one single individual control their resources or them. They understood Sovereignty; “it is he who decides the exception.”
This is why Bitcoin and Defi, built on Bitcoin through RSK, offer Sovereign currency and a Sovereign Financial system. Where any individual l can self-custody with an over-collateralized Dollar-on-Chain, lend or Borrow with their Bitcoin without having to sell it. Carry out transactions permissionless, fast and cheaper than our pre-existing systems.
Focusing to take Bitcoin where it is most needed and where it can do the most good! that is definitely the way forward.
I’m really hoping Bitcoin will unlock and provide a way for people that historically couldn’t participate in the world economy to do so.
All that human potential, creativity and ingenuity cannot help but change the world forever.