Suppressed By World Superpowers, Ethiopia Should Turn To Bitcoin
As the U.S. removes Ethiopia from a critical trade program, it’s clear that the African nation should focus on finding sovereign value.The United States’ recent decision to remove Ethiopia from the African Growth And Opportunity Act (AGOA) trade program is a significant and intentional blow to the Ethiopian people and economy. The country exported around $3 billion worth of product in 2019 — removal from AGOA will cut out approximately half of Ethiopia’s exports to the U.S., which has been the country’s largest export market. According to a recent article in Foreign Policy, this removal....
Related News
Bitcoin’s attributes leave it well-positioned to help facilitate an end to a genocidal war in Ethiopia.
Cryptocurrency service providers that are operating in Ethiopia have been instructed to register with the nation’s cybersecurity agency. The cybersecurity agency is called the Information Network Security Administrative (INSA). INSA is the agency in charge of Ethiopia’s cybersecurity department, which will start to register cryptocurrency services and transfer providers in Ethiopia. Service providers after the […]
Bitcoin advocate Kal Kassa discusses bringing Bitcoin to Ethiopia and its potential in Africa at large.
Reports from Ethiopia say the government has enlisted the services of software company IOHK in its bid to launch the country’s biggest blockchain deployment to date. As part of the agreement, the Cardano protocol creator will be tasked with the job of creating a blockchain-based national student and teacher identification system. High Praise for the Initiative According to the government, this project is initially expected to involve more than five million Ethiopian students. Meanwhile, this link-up between these two parties has been hailed by both the Ethiopian government and IOHK.....
The National Bank of Ethiopia (NBE) has said it does not recognize cryptocurrencies as a legitimate method of payment and that residents must avoid using them. The bank insists the local birr currency is the only lawful means of settling transactions in Ethiopia. Illegal Transactions The Ethiopian central bank has warned citizens against engaging in “illegal” cryptocurrency transactions, a report has said. The report adds that the central bank still does not recognize cryptocurrencies like bitcoin as a payment method. In its report, the state-affiliated media outlet Fanabc....