The Unbounded Currency
In the next ten years, it is possible that integration of the internet would enable a seamless conversion of currency from one to another. Just as emails work, Gmail talking to Yahoo (Outlook, etc), moving words from one region to another, one currency can seamlessly convert into local currency at zero cost [transfer fee will disappear].
The currency denomination of your bank account should not matter that much just as your email (domain e.g. yahoo.com, gmail.com, nuc.edu.ng) address is largely not a big issue. Yes, just as we are agnostic of those domain names, we may be agnostic of the currency your bank account is maintained.
For payment, this is the blockchain movement entities like Ripple via XRP are pursuing. If this happens, Africa’s economy will see tripling in size within a decade because Africans would do more business within Africa, accelerating intra-trade.
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It looks very promising and it seems they will crack it at least in U.S. and Europe. But across African central banks, our stamp duties on electronic transfers may make such impossible. Yet, MPESA which may be a forerunner to whatever the blockchain people have in mind shows such transfers can be done without excessive fees.