Post
Topic
Board Economics
Re: Imagine African countries using Bitcoin to pay salaries,
by
suzanne5223
on 24/01/2024, 22:25:59 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 ,
Nothing is impossible especially now that the most respected investment companies have an interest in Bitcoin. With that being said, the citizens of Nigeria appear to be enthusiasts of cryptocurrency but the stance of their government appears not to support BTC which shows that what you said can't happen for now in the country.
Central Africa Republic is the only African country with the possibility of using BTC to pay salaries.
I believe other African countries governments will never like the idea of paying their worker's salaries in BTC which will limit their fiat currency usage.

It will take a very long time and so effort for a country like Nigeria to fully legalize and adopt bitcoin.
The same thing applies to every country, if not a country like the US should have legalized Bitcoin. However, the drawback of the legalization of BTC is from the government due to their lack of understanding about BTC and their stance toward decentralization.

But despite that the country has not adopted bitcoin to run the economical affairs of the country,there are so many core users and deep cryptocurrency enthusiast's that value bitcoin to their fait currency.
Even if the country legalized BTC is it not a must they use BTC to operate their economic affairs. The purpose of using BTC is to serve as an alternative tool that will maximize the country's economy.