The Central African Republic, one of the world’s poorest countries, became one of only two nations in the world to adopt Bitcoin as a cryptocurrency. Eight months later, almost nothing has changed.
Crypto was an alternative to the CFA franc, which gives France effective control of the economies of more than 180 million people in its former colonies.
Critics say the Bitcoin transition was a gimmick to hype up interest in CAR’s own cryptocurrency, which failed.
One of the World’s Poorest Countries Put Its Faith in Crypto – Why?. By Ben Hunte at Vice World News.