World currency Bitcoin!
Sounds good, at least for crypto disciples.
With Central Africa's recognition, bitcoin is now legal tender for 0.1 percent of the world's population with a 0.03 percent share of the global economy.
It's not cause for malice.
In theory, it is possible for a soft-currency country to import relative stability via a cryptocurrency, such as a peg to the dollar, for example.
Only the Central African Republic, which belongs to the CFA-Franc currency group, which is tied to the euro, is not a soft currency country in that sense.
Statements by the government that Bitcoin as a currency benefits the population are also dubious in view of one of the lowest smartphone densities in the world.
And in El Salvador, 60 percent of users have turned their backs on Bitcoin after spending the $30 donated by the state.
Main complaint: Exorbitant fees for exchanging bitcoin to dollars at ATMs.
The statement by the African government that they want to facilitate investments in the country is somewhat more credible.
The use of Bitcoin for this is manageable and an end to the civil war that has been going on for nine years would be more helpful.
Perhaps the country's elite are simply lured by the opportunity to use crypto speculation to grow, launder and take their wealth out of the country.
But Bitcoin really can't do anything about that.Keywords: