Browsing: El Salvador

African countries’ attempts to form a common regional currency have proven futile precisely because of all the frameworks of laws that need to be revised and harmonized in the different countries. For example, the eco in West Africa and the shilling in East Africa.

Ghana and Nigeria have even gone ahead to create their central bank digital currencies, indicating their lack of belief in the workability of the eco.

What does this mean? In the next 100 years or more, Africa cannot create a common currency acceptable throughout the continent.…

The legal tender title of bitcoin in the country implies the acceptance of cryptocurrencies as a legal means of payment in any transaction through specific rules and regulations. This means that no vendor, trader or organisation can deny service payment through bitcoin as illegal.

This move comes after several countries in the continent have restricted trading in bitcoin, and most of them are lukewarm about the market.

The legalisation of bitcoin in the first African country will transform the country’s infrastructure and facilitate the blockchain technology and web3 applications to thrive. With legalising cryptocurrencies, the Central African Republic is moving towards a new path of technological development and economic performance. This dynamic field is popular among investors worldwide and ever-present as full-fledged assets in the portfolios of the world’s largest financial players such as Microsoft, Meta and Amazon.…