So the new reports states that the central African Republic (CAR) have approved the cryptocurrency bitcoin as their legal tender , this move will make the central African Republic to be the second country to make bitcoin their legal tender..
The first country that made such decision is El Salvador..
Central African Republic CAR is known to be one of the world's poorest countries, but the country is rich in diamonds, gold and also uranium.
The country was wracked by conflict for decades and it is known to be a close Russian ally, with the mercenaries from the Wagner Group helping them to fight rebel forces....
The central African presidency confirmed that the Lawmakers in the country voted unanimously to adopt Bitcoin as legal tender..
And i believe such move puts CAR "on the map of the world's boldest and most visionary countries", ..
El Salvador happened to become the first country to adopt Bitcoin as an official currency in September 2021 ..
There are some people who have raised fears that the cryptocurrencies such as Bitcoin could really make it easier for criminals to be able to launder money, and also that they are environmentally damaging because they use so much electricity to mine....
And of course The internet is really needed to use any cryptocurrency but in 2019,it was confirmed that just 4% of people in the CAR really had access to the internet..
The country currently uses the French-backed CFA franc as its currency, along with most other former French colonies in Africa....
Sources