Bitcoin is set to become the go-to currency for moving money between African countries, according to a new report by CNBC.

The report went into detail on how Bitcoin is disrupting Africa's financial system and pointed to Twitter founder Jack Dorsey's push into Africa through his Bitcoin-focused payments company, Block, Inc.

Dorsey was among the presenters at the Africa Bitcoin Conference, and his company offers an alternative to the prevailing negative narrative around Bitcoin, the report said.

Africa is well-suited for a decentralized currency like Bitcoin given the many problems facing countries on the continent, the report added.