Here we are watching Ethereum skyrocket powered by temporary tariff reprieve hopes and meme coin mayhem. Let’s get real, this isn’t about changing the course of international trade. Call it a “risk-on” bounce, a short-lived central bank-induced reprieve for investors who’ve been singed during this prolonged crypto winter. The question isn't whether Ethereum can climb higher, but whether its rise will actually benefit the people who need it most: the unbanked in Africa.

Forgotten Voices Await Real Solutions

For millions of Africans, banking is not a right but a privilege. Traditional financial systems are hard to access, costly, and prejudiced against the communities we serve. Cryptocurrency, and Ethereum specifically, is frequently presented as the solution. A decentralized system, independent from the shackles of bad governments and evil bankers, seems like a fantasy. Dreams need infrastructure to support them, and this is where the cracks begin to show.

The reality is far more complicated. Even with the planned rollout of the Fusaka update, high transaction fees are a continued barrier for users looking to make small, everyday transactions. Now imagine trying to buy a loaf of bread with ETH. Now imagine the horror when you find out that the transaction fees are more than the bread itself! It's absurd! Layer-2 solutions such as Base and Arbitrum are helping to give some users relief. They all still rely on Ethereum for finality, so their success and costliness are inextricably tied to the stability of Ethereum.

Consider the registered small-holder farmer in rural Kenya. Does she have reliable internet access? Does she own a smartphone that’s powerful enough to run a crypto wallet on it? So, can she afford the gas fees, even at that significantly lowered rate? This is not about tech bros getting wealthy off of their meme coins. But it’s not tokens and trophies that matter here—instead, it’s about giving access to basic financial services to the people who have been systematically marginalized.

Beyond Price Charts What Truly Matters

The obsession with price charts and how to get rich quick is a massive distraction. We're so busy watching the ETH price climb that we're ignoring the fundamental question: is this technology actually solving the problems it claims to address?

Issuance and redemption Stablecoins are generally pegged to the value of traditional currencies. This feature of money provides the price stability that is so fundamental for daily transactions. And privacy enhancing technologies, like cash, can help users evade or escape surveillance and exploitation.

Even stablecoins are not enough of a silver bullet. Yet they still need the hard, soft and structural infrastructure, education and regulatory frameworks that developing countries are so often deprived of. Perhaps the most worrying sign is the correlation between cryptocurrency and high-flying tech stocks. Crypto is just becoming another asset class for rich investors. This all is deepening an already striking chasm between people with cash and people without it. How do we make sure that technology really comes to poorest of the poor?

Building Bridges Or Digital Walls?

Ethereum’s launch, and the wider crypto revolution, is therefore a double-edged sword. But actually, it can be a great platform for financial inclusion, financially empowering individuals and communities come together and take control of their financial livelihood. This would perpetuate and deepen current racial, health, and wealth inequities. Otherwise, it will just contribute to a new digital divide that leaves the most vulnerable more behind than ever.

Here's the uncomfortable truth: technology alone won't solve the problem. To do that, we need to take a comprehensive view. Let’s combine technological innovation with purposeful education, robust regulatory frameworks and a genuine commitment to social justice.

The unbanked in Africa are not hoping for a Hail Mary. They're waiting for solutions. And it's our responsibility to ensure that Ethereum's rise lifts them up, not leaves them behind. Build the future. Don’t just watch the price.

  • Invest in education: Provide free, accessible education on blockchain technology and cryptocurrency for people in developing countries.
  • Develop affordable infrastructure: Support the development of low-cost smartphones and reliable internet access in underserved communities.
  • Advocate for fair regulations: Work with governments to create regulatory frameworks that protect consumers without stifling innovation.
  • Support community-led initiatives: Invest in grassroots organizations that are working to leverage blockchain technology for social good.

The unbanked in Africa aren't waiting for a miracle. They're waiting for solutions. And it's our responsibility to ensure that Ethereum's rise lifts them up, not leaves them behind. Don't just watch the price, build the future.