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ReadersSpeak

CAR a visionary country see digital currencies accessible and successfully imple-
for embracing Bitcoin mented for the entire population, especially for those
who're unbanked. Ultimately, it will be challenging to see
We received the following country-wide use of the new legal tender until infrastruc-
commentary on the Central ture issues and locals' education around the currency are
African Republic's adoption addressed.
of Bitcoin as its legal cur-
rency from Anthony Oduu, "This decision comes at a time when the African continent
co-founder and CTO of is particularly divided; Egypt and Morocco have banned
Verto, www.vertofx.com, a cross-border payment platform: the usage of cryptocurrencies completely, whilst others
have partial restrictions. The adoption of Bitcoin as the
"The Central African Republic's adoption of Bitcoin as its CAR's legal tender might not move the needle completely,
legal currency, becoming the second country in the world but it may encourage other countries to be more open-
to do so after El Salvador, places the country on the map of minded to digital currencies, such as stablecoins and Cen-
the world's most visionary countries. The implementation tral Bank Digital Currencies."
adds greater legitimacy to cryptocurrencies as they be-
come increasingly intertwined with the financial system. CBDC, stablecoins, bitcoins—where do you stand?

"However, country-wide adoption will be very much Where do you stand in terms of cryptocurrency accep-
dependent upon the performance of infrastructure and tance? How about your merchant customers and partners?
locals' attitudes towards the currency. The Central Afri- Do you see enthusiasm, cautious optimism, concerns
can Republic does not have the best standard of telecom- about volatility, or even a lack of relevance to day-to-day
munications and digital infrastructure. In 2021, internet business activities? Fill us in on this or other developing
penetration was around 10 percent, and mobile connec- topics in the payments sphere at greensheet@greensheet.com.
tions were available to just 30 percent of the population. And if you want to address a relevant topic on this page,
Significant investments will need to be made if we're to we accept commentary of up to 300 words.