Bitcoin is the first successful internet money based on peer-to-peer technology; whereby no central bank or authority is involved in the transaction and production of the Bitcoin currency. It was created by an anonymous individual/group under the name, Satoshi Nakamoto. The source code is available publicly as an open source project, anybody can look at it and be part of the developmental process.
A statement from the president’s office on Wednesday confirms the passage and signing of legislation making Bitcoin as valid a currency currency is a medium of exchange that defines value. as the country’s fiat fiat currency is “legal tender” backed by a central government, such as the Federal Reserve, and with its own banking system, such as fractional reserve banking. It can take the form of physical cash, or it can be represented electronically, such as with bank credit. currency.
This Monday, we tell that the Central African Republic had adopted Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. as a payment currency . The information was given in scoop by the media Forbes, however other reports said that was not true or, that in any case, the crypto law passed in the country did not mean the cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. had legal status, as in the case of El Salvador.
Today, Wednesday, the rumors are already confirmed. Yes, it is true. This country, which is at the center of the African continent, has accepted BTC as legal tender.
The AFP agency tells it on Twitter:
La República Centroafricana ha adoptado Bitcoin como moneda de curso legal, dijo la oficina del presidente el miércoles, convirtiéndose en el segundo país del mundo en hacerlo después de El Salvador.
#UPDATE The Central African Republic has adopted bitcoin as legal tender, the president’s office said Wednesday, becoming the second country in the world to do so behind El Salvador pic.twitter.com/Jv8CoGDOGW
— AFP News Agency (@AFP) April 27, 2022
As can be seen, it is an official communiqué from the office of President Faustin Archange Touadera that gives the information. It says that the National Assembly approved and signed a bill drafted by the Minister of Digital digital technologies are these electronic tools that have the ability to generate, store or even process data. Economy, Gourna Zacko, and the Minister of Finance and Budget, Calixte Nganongo. He adds that this legislation establishes a legal and regulatory framework for cryptocurrencies. Y explicitly states that it is established that Bitcoin (BTC) is legal tender along with the Central African Franc, CFA, the country’s fiat currency.
Several tweeters shared the official press release, written in French and signed by the Director of Cabinet, Obed Namsio, who was described the decision as historic.
Central African Republic “is the first country in Africa to adopt Bitcoin as legal tender.” , dijo Namsio. “This move puts the Central African Republic on the map of the boldest and most visionary countries in the world.” stated, according to a report by Le Monde.
“There is a common narrative that sub-Saharan African countries are often a step behind when it comes to adapting to new technology. “Finance Minister Herve Ndoba said last week, as quoted in Bloomberg. “This time, we can say that our country is one step ahead.”
However, it is worth noting that access to technology remains a privilege of the few. The Central African Republic, landlocked and extremely poor, has a population of 4.83 million inhabitants, of whom only about 11% have access to the Internet .
It remains to be seen what international organizations, such as the International Monetary Fund and the World Bank, both against the adoption of BTC in El Salvador.
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