Post
Topic
Board Economics
Re: Imagine African countries using Bitcoin to pay salaries,
by
Dzwaafu11
on 24/01/2024, 09:26:06 UTC
I don't know if the government of any African country have adopted the system of paying salaries in Bitcoin, but I know here is Nigeria they haven't, it's possible to pay employees using Bitcoin or other crypto currencies ,

I think you yourself know that it will be very hard for a country to adopt bitcoin and start using it as a means of paying their workers when they have their own fiat currency that is legal in the country at large. Did you know that for the government to start paying their employees with bitcoins, it means that they have completely accepted bitcoin as a legal tender in such a country, which the government did not want? Although I read in some previous replies that they said Central Africa accepted bitcoin as an alternative means of payment, even with that, they didn’t make it their main means of payment for their employees.

Furthermore, there are countries that lack proper technology. Even Nigerian workers have such problems. There is not much technological advancement in the country that will have a positive outcome for using bitcoin as a means of payment. Don’t forget that bitcoin is something that someone must learn before starting to use it, so I don’t think most people have time to go back and learn the process of bitcoin technology now. And remember that even if they do, the government will be the one responsible for teaching them. There will be many bills for the government before those people learn the technology, so these are the things that I think the government will not allow bitcoin to be part of the currency to pay their employees.