Idris Elba, the British actor and filmmaker known for his roles in TV series The Wire and Luther, has announced a partnership with the Stellar Development Foundation (SDF), a non-profit organization that supports the development and adoption of the Stellar network, a blockchain platform that aims to create equitable access to the global financial system.
Elba says he was drawn to the SDF’s mission of using crypto for good, especially in regions where traditional banking services are scarce or costly. He says he learned about crypto during the pandemic, when prices soared and many celebrities endorsed various crypto products and services. However, he says he turned down a lot of “mad opportunities” that were only about using him as “a piece of meat” and “making a lot of money.”
“I didn’t feel comfortable participating in the gold rush,” he says. “I was more curious about the technology and how it could help people who are financially excluded.”
Elba’s parents hail from West Africa, where financial inclusion is a major challenge.
Elba’s parents are from Sierra Leone and Ghana, two countries in West Africa where less than half of adults have access to formal banking services, according to the World Bank. Elba says he has witnessed firsthand the difficulties that people face in accessing and transferring money, especially across borders.
“I’ve seen people struggle with remittances, with high fees, with delays, with corruption,” he says. “I’ve also seen people use mobile money, which is great, but it’s still limited by the network coverage and the interoperability of different platforms.”
Elba says he believes that crypto can offer a more efficient and inclusive alternative to traditional financial systems, by allowing anyone with a smartphone and an internet connection to send, receive, and store value. He says he was impressed by the Stellar network’s ability to facilitate fast, cheap, and secure transactions across different currencies and assets.
“Stellar is like a bridge that connects different worlds,” he says. “It allows people to use their local currencies, but also access global markets and opportunities. It empowers people to be their own bank, but also to be part of a larger community.”
Elba will collaborate with the SDF on various initiatives to raise awareness and adoption of crypto in West Africa.
As part of his partnership with the SDF, Elba will collaborate with the organization on various initiatives to raise awareness and adoption of crypto in West Africa. He says he plans to use his platform and influence to educate people about the benefits and risks of crypto, as well as to support local entrepreneurs and innovators who are building solutions on top of the Stellar network.
“I want to be a catalyst for change,” he says. “I want to help people understand what crypto is, how it works, and how it can improve their lives. I also want to showcase the amazing work that is being done by the Stellar community in West Africa, and inspire more people to join them.”
Elba says he hopes that his partnership with the SDF will also inspire other celebrities to use their voice and power for good causes, rather than for personal gain. He says he is aware of the backlash that some celebrities have faced for endorsing crypto products and services that turned out to be fraudulent or harmful.
“I think celebrities have a responsibility to do their homework and be transparent about what they are promoting,” he says. “They should not just jump on the bandwagon because it’s trendy or lucrative. They should align themselves with projects that have a positive impact on society, and that share their values and vision.”
Elba says he is excited about the future of crypto, and its potential to transform the world for the better. He says he is optimistic that crypto will overcome its current challenges, such as regulatory uncertainty, environmental concerns, and market volatility.
“I think crypto is here to stay,” he says. “It’s not a fad or a bubble. It’s a revolution.”
