The Central African Republic, one of the poorest countries in the world, has become the second country to adopt Bitcoin as its official currency. In the shared statement, it was stated that the move made the country one of the ‘most courageous and visionary’ countries.
While all the countries of the world continue to work on crypto assets, the Central American country El Salvador became the first state to accept Bitcoin as an official currency in September 2021. While the use of Bitcoin as a currency was finally discussed on the Russian side, today, Bitcoin was accepted as the official currency in different countries.
The Central African Republic, which is in the ‘Least Developed Countries’ category of the United Nations and could not benefit from underground riches such as diamonds, gold and uranium due to political chaos and instability, announced that they accept Bitcoin as the official currency. The decision was taken unanimously in the parliament.
It is expected to support the country’s economy
The Central African Republic, in its statement about the decision, stated that this move made the country one of the bravest and most visionary countries in the world. In addition, the country’s economy, which has been struggling with the crisis for years, is expected to improve somewhat with Bitcoin. On the other hand, the country’s adoption of Bitcoin is interpreted as ‘early’ by some experts.
Computer engineer Sydney Tickaya reminded us that internet access is still not common in the country and that Bitcoin is completely connected to the internet. He added that the Central African Republic should find solutions such as security, education and access to drinking water more urgently than this solution.