Making Bitcoin Legal Tender In Africa: How CAR Can Find Financial Freedom

Bitcoin Magazine

The Central African Republic (CAR) shocked the world when its president announced that the country had adopted bitcoin as legal currency.

While some assumed that another nation would eventually follow the steps of El Salvador, which last year became the first country in the world to declare bitcoin a lawful currency, most didn’t expect this small African nation to be the one to follow suit.

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But several factors may make the CAR a logical destination for bitcoin adoption. The CAR has one of the lowest gross domestic products (GDPs) in the world. Its population, for the most part, is kept outside of the financial system and unwillingly shielded from technological developments like smartphones and the internet.

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