Crypto Expert Explains the Fear and Excitement in CAR of Accepting Bitcoin as Legal Tender

blockchain.news:

The booming of the crypto coins like Bitcoin in different regions and nations is unstoppable. This has recently been observed in the case of the Central African Republic (CAR). Of course, one of the major questions that have remained unanswered is whether Bitcoin adoption can work in such a developing country.

CAR betting on Bitcoin

The CAR overtook regional cryptocurrency front-runners like Nigeria and Kenya to become the continent’s first country to officially adopt Bitcoin as legal tender.

The Central African Republic has become the second nation in the world to adopt Bitcoin as its official currency after El Salvador took the same approach last year.

Late last month, lawmakers in the CAR’s parliament voted unanimously and passed a bill legalizing Bitcoin and other crypto assets, according to a statement from the presidency.

As a result, Bitcoin will be considered legal tender alongside the regional Central Africa’s fiat currency, CFA franc.

Blockchain.News invites Marie Tatibouet, the Chief Marketing Officer, at Gate.io cryptocurrency exchange, to help us explore whether Bitcoin can work in the Central African Republic as a legal tender and to propose a way how the cryptocurrency can be adopted in the region.

Tatibouet has lived and worked in the Americas, Europe and Asia. Before joining Gate.io, she was the CEO of a Digital Marketing Agency in Hong Kong, working with clients in the blockchain technology sector. That puts her at the forefront of the industry, which poses a challenge to traditional currency.

Tatibouet acknowledged that the decision by the CAR parliament to unanimously pass a law in favour of the adoption of Bitcoin was driven by the need to solve currency and exchange rate challenges.

The executive