Author: James Vincent
Illustration by Alex Castro / The Verge
The Central African Republic (CAR) has become the second-ever country to adopt Bitcoin as a national currency, following El Salvador’s adoption of the cryptocurrency last year.
CAR’s government says a bill to adopt Bitcoin was passed unanimously by the country’s parliament, reports Reuters and BBC News. (Though former CAR prime minister Martin Ziguele complained the bill was approved “by proclamation.”) The office of CAR president Faustin-Archange Touadera claimed the move would “improve the conditions of Central African citizens” and distinguish CAR as “of the world’s boldest and most visionary countries.”
However, geopolitical analysts and financial experts are confused by motivations for the move. CAR is a landlocked nation that is...
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Continue reading...
Illustration by Alex Castro / The Verge
The Central African Republic (CAR) has become the second-ever country to adopt Bitcoin as a national currency, following El Salvador’s adoption of the cryptocurrency last year.
CAR’s government says a bill to adopt Bitcoin was passed unanimously by the country’s parliament, reports Reuters and BBC News. (Though former CAR prime minister Martin Ziguele complained the bill was approved “by proclamation.”) The office of CAR president Faustin-Archange Touadera claimed the move would “improve the conditions of Central African citizens” and distinguish CAR as “of the world’s boldest and most visionary countries.”
However, geopolitical analysts and financial experts are confused by motivations for the move. CAR is a landlocked nation that is...
Continue reading…
Continue reading...