RATE Group | New Data Suggests Bitcoin Use Growing Through Utility in Developing World
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New Data Suggests Bitcoin Use Growing Through Utility in Developing World

02 Oct New Data Suggests Bitcoin Use Growing Through Utility in Developing World

Posted at 20:41h in Bitcoin News by

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A data scientist and Bitcoin enthusiast has just published a follow up report to an earlier effort to collate global LocalBitcoins volume data. Matt Ahlborg has also shared tools that allow for much greater analysis of the international peer-to-peer Bitcoin market.

By providing data in US dollar equivalents, different markets’ performances can be measured against one another with much greater ease. The data shows that interest in trading Bitcoin peer-to-peer is growing steadily in Eastern Europe, sub-Saharan Africa, and Latin America.

LocalBitcoins Volume Shows Bitcoin Use Growing in Developing Nations

The report and accompanying analytics website UsefulTulips.org is the work of Matt Ahlborg. The data scientist originally published an in-depth article about global LocalBitcoins trading volumes in February. The article concluded that trading volumes on the peer-to-peer platform was often driven by real usage, rather than simply speculation:

“Bitcoin activity on the platform…

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