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The Central Africa Republic (CAR)’s surprise bitcoin adoption decision once again shows that the top cryptocurrency can be an alternative to fiat currency. However, the African country still needs to invest heavily in its telecommunications infrastructure. The CAR also needs to prioritize education that helps the population to familiarize itself with cryptocurrency basics.

Brangus CAR internetas

There is little doubt Central Africa Republic’s decision to designate bitcoin (BTC), nes teisėta mokėjimo priemonė daugelį nustebino. Nedaugelis žmonių tikėjosi, kad CAR – viena labiausiai skurdžiausių Afrikos šalių ir ta, kurios ekonomiką nusiaubė pilietinis karas – bus pirmoji priimti bitkoinus.

For critics still trying to understand why another nation has joined El Salvador in making bitcoin legal tender, the CAR’s move is perplexing. To begin with, they cannot understand how a country with such a low internet penetration rate — less than 12% — has chosen the top cryptocurrency as its transacting currency.

The Central Africa Republic’s reported infrastructure deficit and the fact that mobile connections are only available to 30% of the population seemingly renders the case for adopting bitcoin less convincing. Also, according to a 2018 m. IRT profilis CAR, tuomet buvo teigiama, kad šalies „neaiški institucinė padėtis“ ribojo investicijas į plačiajuosčio ryšio tinklus ir prieigą prie tarpvalstybinių povandeninių kabelių.

Dėl šio ir daugelio kitų veiksnių Centrinės Afrikos Respublika, remiantis IRT profiliu, didžiąją tarptautinio interneto pralaidumo dalį turėjo pasikliauti brangiais palydoviniais ryšiais, o tai reiškia aukštas interneto kainas. Brangus internetas yra viena iš daugelio kliūčių, trukdančių įsivaikinti.

Despite these seemingly insurmountable challenges, proponents of bitcoin and supporters of an alternative financial system are adamant the Central Africa Republic’s decision proves digital currencies have a role to play. This is particularly true for countries that are cut off from the global financial system.

Privatūs pinigai vis tiek gali būti teisėtas pasiūlymas

Garsaus austrų ekonomisto Friedricho Hayeko pasekėjams ir privačių pinigų šalininkas, the adoption of bitcoin by El Salvador and now the Central Africa Republic proves he was right — there is indeed a place for private money.

Despite the strong opposition from institutions like the International Monetary Fund (IMF), some believe more countries will still make bitcoin legal tender. In fact, reports that some 44 countries were represented at El Salvador’s recent bitcoin exhibition suggest more countries might follow in the footsteps of these two countries.

While it is logical to assume that the CAR plans to invest heavily in the development of the telecommunication infrastructure, the mere increase in the sum of funds earmarked for this is no guarantee this will also lead to changed attitudes towards bitcoin.

The CAR must therefore ensure it has funds reserved for efforts that are aimed at boosting the population’s understanding of bitcoin and how to buy bitcoin for the first time. Indeed, education is still key to eradicating ignorance, not just in the Central Africa Republic but across much of the developing world.

Pagrindinių dalykų mokymasis

A majority of the CAR’s more than 5 million inhabitants must become acquainted with the basics such as a bitcoin wallet, recovery phrases or a wallet’s public address. When that is achieved, the chances of the CAR succeeding in becoming a country where bitcoin functions as legal tender and a transactional currency will be greatly enhanced.

On top of educating its population, the CAR needs to work with players in the crypto space like cryptocurrency exchanges, payment processors, and wallet providers. Just like the first country to adopt bitcoin El Salvador, which has since sought the services of a cryptocurrency exchange, the African country also needs to partner with a reputable player in the industry.

If the Central Africa Republic decides to follow the recommendations suggested in this article, it could well achieve its goal of seeing bitcoin become the country’s reference currency much sooner. The same is true for any other country that wants to make bitcoin an alternative legal tender.

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Terence'as Zimwara

Terence'as Zimwara yra Zimbabvės apdovanojimus pelnęs žurnalistas, rašytojas ir rašytojas. Jis daug rašė apie kai kurių Afrikos šalių ekonomines bėdas ir apie tai, kaip skaitmeninės valiutos gali padėti afrikiečiams išsigelbėti.