Central Africa Republic’s Bitcoin Adoption: The Real Work Must Start Now
The Central African Republic (CAR)’s surprise bitcoin adoption decision once again shows that the top cryptocurrency can be an alternative to fiat currency. However, the African country still needs to invest heavily in its telecommunications infrastructure. The CAR also needs to prioritize education that helps the population to familiarize itself with cryptocurrency basics. The CAR’s Expensive Internet There is little doubt Central Africa Republic’s decision to designate bitcoin (BTC) as legal tender has surprised many. Few people expected CAR — one....
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As it turns out, it’s a Bitcoin Law after all. The full text from the Central African Republic’s law that makes bitcoin legal tender is finally out, clearing all kinds of doubts and questions that the world had. And creating new ones. Bitcoinist already told you most of the things you had to know about […]
Last month, the Central African Republic surprised the world by making bitcoin legal tender. As it happened with El Salvador, Bitcoiners from around the world jumped to support the project. On May 22nd, a French-speaking bitcoin-heavy delegation of sorts landed in Bangui, the Central African Republic’s capital. Why were they there? To talk bitcoin, that’s […]
The International Money Fund (IMF) has added its voice to institutions and parties criticizing the Central African Republic (CAR)’s decision to adopt bitcoin. The IMF insists the adoption poses legal economic challenges not only to the country but to the region as well.
CAR’s Bitcoin Adoption Has Financial and Legal Issues
The IMF has reportedly said the CAR’s recent decision to adopt bitcoin poses a number of challenges for the country and the region. The comments by the global lender mark the first time it has publicly reacted to CAR’s decision to....
Alex Gladstein and Fodé Diop join a Bitcoin Magazine Twitter Spaces to share updates about the Central African Republic’s plan for Bitcoin adoption.
According to the findings of the latest study by Disrupt Africa, the number of fintech start-ups based on the African continent grew to 576 in 2021. This figure represents a 17.3% jump from the 491 start-ups that were operating on the continent in 2019. Overall, the number of fintech start-ups in Africa has increased around 90% from the 2017 figure of 301. Nigerian Dominance Leading the charge in this continuing African fintech growth is the West Africa region where “Nigerian figures were up 42.6 percent on 2019.” In Ghana, fintech companies grew by 25% over the same period....