Using Tether to Bridge Education Barriers in Africa.
Given that education is vital for the development of the African child, and for the achievement of Sustainable Development Goals, one of the ways to address the education finance crisis in Africa is to establish education trust funds, which are funds aimed at improving access to quality education. Education trust funds can be set up by gov, NGOs, private donors, or local communities, and can target vast levels and types of education.
However, education trust funds face many risks, such as currency fluctuations, inflation, corruption and low returns. These factors erode the value of the funds and discourage potential donors. Hence, it is essential to find a way to protect and enhance the education trust funds.
One suggestion is to use Tether, a cryptocurrency stablecoin that is pegged to the US dollar. Tether has many advantages over regular currencies and savings, such as:
Stability: Tether is pegged with the dollar at a 1:1 ratio which means it does not suffer from the volatility and inflation that affect most African monies. This way, benefactors can preserve the value of their donations and avoid losing money due to market fluctuations so that the exact cost earmarked for education is not hit by rising dollar rates.
Accessibility: Tether is on many digital exchange and can be swapped for other coins thus providing benefactors many investment options that offer higher returns than mere savings.
Security: Tether is 100% backed by Tether’s reserves, which consist of cash and cash equivalents that are held in audited bank accounts. Thus benefactors can trust that their donations are safe and redeemable at any time.
Tether can help benefactors save money and give them more control and confidence over their donations thereby ensuring sustainable education in Africa. Tether can also help beneficiaries to achieve their potential and contribute to their communities. Tether can be a great tool for transforming education in Africa and creating a brighter future for the continent.