How Bitcoin Changes the World in Unpredictable Ways – BTC Prague 2024 Keynote Summary

Introduction

Ricardo Giorgio Frega, known widely as Rikki, delivered a passionate keynote titled “Changing the World in Unpredictable Ways” at BTC Prague 2024. As an activist and co-founder of the Bitcoin Explorers project alongside his partner Laura, Rikki documents real-world bitcoin adoption across emerging and inflation-stricken economies. In his talk, he challenged the narrative that bitcoin is a tool only for the wealthy, presenting compelling on-the-ground evidence from regions in Africa, South America, Central America, and Asia. Through stories of hope, innovation, and empowerment, Rikki illustrated how bitcoin serves not just as a speculative asset but as a transformative protocol that fosters financial inclusion, economic opportunity, and even rural electrification.

Bullet List of Most Important Topics Covered in the Keynote

• Introduction of Rikki and the Bitcoin Explorers project.

• Critique of the belief that bitcoin only benefits the wealthy.

• Examination of global income inequality through World Bank data.

• Real-world bitcoin use cases in emerging markets and hyperinflated economies.

• Unique adaptations of bitcoin adoption in Turkey, South Africa, and El Salvador.

• Inflation as a death sentence for low-income families without access to alternative assets.

• Bitcoin’s advantages over gold for low-income earners.

• The power and practicality of the Lightning Network for peer-to-peer bitcoin payments.

• Bitcoin’s role in saving and transacting in township communities.

• Use of bitcoin mining to monetize stranded electricity in rural Africa.

• Electrification of sub-Saharan African villages enabled by bitcoin mining.

• Emphasis on productivity and local economic empowerment instead of foreign charity.

• Closing message: bitcoin changes the world in unpredictable and profound ways.

Summary: How Bitcoin is Changing the World in Unpredictable Ways

Rikki and the Global Mission of Bitcoin Explorers

Rikki begins by introducing himself as a bitcoin activist and the co-creator of Bitcoin Explorers, a project he runs with Laura, his partner. Together, they travel to regions most affected by inflation and economic hardship to document how local communities are adopting bitcoin. Their mission is both adventurous and humanitarian, but often misunderstood. Critics argue that bitcoin is only for the wealthy — a tool to enrich those who already have capital. Rikki refutes this aggressively. According to him, such claims stem from a narrow, fiat-centric view that sees bitcoin only as an investment vehicle, ignoring its powerful potential as a protocol for freedom, resilience, and inclusion.

The Illusion of Global Prosperity and the Truth Behind Income Maps

To ground his argument, Rikki presents data from the World Bank showing a distorted view of income distribution worldwide. The World Bank labels countries earning between $4,000 and $14,000 per year as “upper-middle income,” but this categorization spans an enormous range and masks the reality that many people in these regions still live with precariously low monthly incomes — often under $500. Rikki highlights that, according to the same data, El Salvador was expected to transition into the upper-middle-income group. He sees this not as a coincidence, but as a consequence of its bitcoin adoption policies, suggesting bitcoin plays a significant role in real economic uplift.

Real Use Cases: From Istanbul to South African Townships

Rikki dives deeper into regional examples, beginning with Turkey, where inflation reached 70% annually. He describes scenes in central Istanbul where locals — not tourists — line up at money exchanges to convert their devaluing Turkish lira into anything more stable. For wealthier citizens, this may mean buying gold or real estate. However, for poorer citizens, such options are simply out of reach. You can’t buy 10 euros worth of gold, Rikki explains, and real estate is obviously unattainable.

This is where bitcoin steps in. It is digital, divisible, liquid, and accessible. People in Istanbul are using Lightning-enabled wallets to make small purchases in bitcoin, making it a real alternative store of value. In practical terms, this democratizes financial protection. Gold, once the go-to store of value, is now seen by Rikki as obsolete for the underbanked. Bitcoin, by contrast, offers an on-ramp into financial sovereignty for even the lowest income brackets.

The Dual Role of Bitcoin: Store of Value and Medium of Exchange

Rikki addresses a common debate within the bitcoin community: whether bitcoin should be viewed primarily as a store of value or as a medium of exchange. He argues forcefully that the distinction is artificial. Strong money must fulfill both roles. In the townships of South Africa, bitcoin serves exactly this dual purpose. Organizations like Bitcoin Ekasi educate children and their families on how to use bitcoin and the Lightning Network to transact and save.

Rikki notes that for these families, their only interaction with bitcoin is through the Lightning Network. This makes it easy and fast, but also custodial in some cases — a fact he considers acceptable in the early stages because the benefits outweigh the risks. He emphasizes that for these communities, bitcoin is not an investment or a speculative game. It is a lifeboat.

Electrifying Rural Africa Through Bitcoin Mining

Perhaps the most astonishing part of the keynote arrives when Rikki explains how bitcoin mining is solving the longstanding issue of rural electrification in sub-Saharan Africa. He quotes the International Energy Agency, stating that over 600 million people in the region lack electricity. Not because the technology doesn’t exist, but because it’s not economically viable to build power plants far from industrial demand centers.

Yet, thanks to companies like Gridless in Kenya, this is changing. These companies place bitcoin miners in remote areas next to small hydropower plants. They consume the excess electricity — electricity that would otherwise go unused — and generate revenue for the plant operators. As a result, power companies are now investing in expanding their facilities and even building new plants.

Rikki shares vivid images from one such village. The villagers received electricity for the first time. A man can now serve more customers with his electric razor. A communal refrigerator — the first in the village — allows families to store food and businesses to stock beverages. This, Rikki says, is how productivity is born. It’s not charity. It’s opportunity. And bitcoin makes it possible.

Bitcoin as an Enabler of Value Creation

What sets bitcoin apart in Rikki’s narrative is its ability to unlock productivity. He emphasizes this repeatedly. Villages now powered by hydropower and sustained by bitcoin mining don’t rely on foreign aid or intermittent charity projects. Instead, they generate their own value. They produce, store, and exchange — because they now have the infrastructure and economic mechanism to do so. Bitcoin is the backbone that connects the energy markets to economic inclusion.

He underscores that bitcoin doesn’t change the world through grants or subsidies. It levels up the playing field by enabling people to build businesses, educate their children, and create lasting value in their communities. Rikki’s talk closes with a powerful reminder: bitcoin transforms the world in unpredictable ways — not from the top down, but from the grassroots up.