Post
Topic
Board Legal
Re: Central African Republic drops Bitcoin as Legal Tender
by
jbgsmininggmbh
on 19/04/2023, 13:00:24 UTC
For such projects, the country must train specialists. They had to recruit a group of students and send them to study in other countries, so that after a few years they would come back and do their projects on the territory of CAR.
This approach of governance is similar to the fact that the country is run by brainless economists. The economy is not bitcoin, you need to build factories and enterprises, because of the cheap labor force, make competitive products. And from the fact that you allow cryptocurrencies, nothing will change. Maybe life in developed or tourist countries will be a plus.

I totally get where you're coming from. It's clear that just adopting Bitcoin as legal tender won't magically solve all the economic problems in CAR. Building a strong economy takes a lot more than that, like investing in education, setting up factories, and taking advantage of the local workforce.

That said, cryptocurrencies can still be a useful piece of the puzzle. They can help bring in foreign investments, make international trade easier, and even inspire technological advances. And on top of that bring in more tourists...