They made a grave mistake to reverse it, just like El-Salvador i think they would've gradually stabilized their economy and strengthen their fiat currency...
Lol, CAR na very poor country oh and dem get reasons why dem reverse that decision, CAR na one of the poorest countries in the world, dem no get electricity or even good internet connection, wetin dem go come dey do with bitcoin. That being said, i no know why you think say bitcoin for help them stabilize their economy and strengthen their fiat, no be so e be oh, even El Salvador no get stable economy, and them dey use U.S. dollar as their fiat currency. 
Topic: Bitcoin national reserve plans in Africa countries (Read 311 times)
Heads up: Kenya to legalise cryptocurrencies, says Treasury Cabinet Secretary
The Treasury Cabinet Secretary John Mbadi, said on Friday.
We probably saw earlier that a fire brigade association in Kenya proposed to accept Bitcoin, maybe I already posted about that. Then i.e. in the present time Kenya is once again preparing to legalize Bitcoin in their country. This is positive news for Bitcoin as well as positive news for our African countries.The Treasury Cabinet Secretary John Mbadi, said on Friday.
Maybe the popularity of Bitcoin in Africa is slowly increasing because a few days ago I saw a post on Twitter called African Bitcoiners that said that the Bitcoin ecosystem in Africa has grown by a total of 77%. Bitcoin's popularity has increased in various African countries this year compared to last year.
Didn't Kenya propose to make Bitcoin the asset for their national reserves? I saw a headline like that but couldn't read it so I just assumed it is going to happen sometime in the future.
It is high time Africa countries start adopting innovative technologies sooner rather than later. If most africa counties had move forward with this move a long time ago, preferably in 2023 or somewhere in early 2024, those national reserves would be in good standing. Even better if they publicize the addresses holding the bitcoin so citizens can track and know when it is tempered with.
It is high time Africa countries start adopting innovative technologies sooner rather than later. If most africa counties had move forward with this move a long time ago, preferably in 2023 or somewhere in early 2024, those national reserves would be in good standing. Even better if they publicize the addresses holding the bitcoin so citizens can track and know when it is tempered with.
In Africa, I do not expect much from our leaders in terms of having a bitcoin national reserve. To be specific sef, you see countries in West-Africa, East-Africa, and even countries, in southern-Africa. The most developed regions in Africa are some of those countries in Northern Africa. I nor too sabi there policy on bitcoin but na them don dey very developed to even talk about bitcoin national reverse way I fit believe. For any other region, na play. Make them first deal with all the corruption wey dey smell dey follow them first.
Although this is not a Bitcoin Strategic Reserve proposal for Kenya yet but it's a step towards what we having been expecting in Africa.
Exactly, it is not a bitcoin strategic reserve but just about legalizing bitcoin in Kenya. There are many countries that bitcoin is legal in Africa. And there are many countries that bitcoin is neither legal nor illegal in Africa. It was the North African countries that were most hostile to bitcoin but everything is gradually changing for good. This can truly be a good plan towards having bitcoin as a national reserve in Kenya. I hope it is like that way.Kenya might even be the very first Africa country to opt for Bitcoin reserves, since their Firefighter Union adopted it around December last year.
Kenya has been somehow inclined in technological advancements, although still suffer from bad governance but this may likely gives a sense of transparency and show where the funds is going, I think soon others I'm the country will push for the Bitcoin reserves also.
I don't know if the way bitcoin was made a legal tender in Central African Republic can still be termed as a national reserve for them in CAR or its another entire case different, also if none for now, there have been indications for that already and if we can just have it from the US or any other strong and developed country, then others may follow suit after the likes of El-Salvador.
Someone posted about Central African Republic on the first page which I corrected the person that CAR bitcoin as legally tender was later cancelled.In April 2022, the Central African Republic (CAR) adopted bitcoin as legal tender, becoming the second nation in history to do so. However, just a year later, the nation reversed its decision.
Also having a coin as a legal tender is different from having a coin as one of the national reserves.
I have been reading many news about different countries or people in different countries in talk with regulators and government officials about plans to make bitcoin as a reserve in their respective country. What I am very concerned about is that as many as we in Africa, I means the countries, I have not seen any country that is making a plan like this.
Or maybe I am missing some information. Is there any country that is having bitcoin national reserve plan? If I see any country in Africa with that plan, I will list it on this thread.
Or maybe I am missing some information. Is there any country that is having bitcoin national reserve plan? If I see any country in Africa with that plan, I will list it on this thread.
I don't know if the way bitcoin was made a legal tender in Central African Republic can still be termed as a national reserve for them in CAR or its another entire case different, also if none for now, there have been indications for that already and if we can just have it from the US or any other strong and developed country, then others may follow suit after the likes of El-Salvador.
I have been reading many news about different countries or people in different countries in talk with regulators and government officials about plans to make bitcoin as a reserve in their respective country. What I am very concerned about is that as many as we in Africa, I means the countries, I have not seen any country that is making a plan like this.
Or maybe I am missing some information. Is there any country that is having bitcoin national reserve plan? If I see any country in Africa with that plan, I will list it on this thread.
Central African Republic once made moves to legalize Bitcoin but I don't know what happened that made them change. Assuming they followed through with such plans, it would have lead to them making Bitcoin a national reserve or something similar to what El Salvador did that which has earned them huge profit as a country. Apart from CAR, other African countries are still fighting Bitcoin or claim to be studying Bitcoin in what has become an unending study of what they should have embraced a long time ago. Maybe they are waiting for the West to fully legalize Bitcoin before they trail from behind just like they do in everything. Or maybe I am missing some information. Is there any country that is having bitcoin national reserve plan? If I see any country in Africa with that plan, I will list it on this thread.
I have been reading many news about different countries or people in different countries in talk with regulators and government officials about plans to make bitcoin as a reserve in their respective country. What I am very concerned about is that as many as we in Africa, I means the countries, I have not seen any country that is making a plan like this.
Or maybe I am missing some information. Is there any country that is having bitcoin national reserve plan? If I see any country in Africa with that plan, I will list it on this thread.
With the current economic situation especially the high rate of inflation that is currently the rise in Africa countries due to the importing rate of most Africans which has made their locals currencies weak and causing high rate of inflation in their respective countries I think this is the right time for African countries to take advantage of Bitcoin and make appropriate investment towards that and start having Bitcoin national reserves just like the way most countries has national reserves of their country wealthOr maybe I am missing some information. Is there any country that is having bitcoin national reserve plan? If I see any country in Africa with that plan, I will list it on this thread.
African countries should be bold enough to step out of their current skeptical approach towards Bitcoin and start making plans concerning having bitcoin reserves because with the current economic realities in the African continent the way forward in curbing the high inflation is Bitcoin because Bitcoin is a decentralized digital currency so it will be helpful to the African continent
Although this is not a Bitcoin Strategic Reserve proposal for Kenya yet but it's a step towards what we having been expecting in Africa.
Exactly, it is not a bitcoin strategic reserve but just about legalizing bitcoin in Kenya. There are many countries that bitcoin is legal in Africa. And there are many countries that bitcoin is neither legal nor illegal in Africa. It was the North African countries that were most hostile to bitcoin but everything is gradually changing for good. This can truly be a good plan towards having bitcoin as a national reserve in Kenya. I hope it is like that way. Is there any country that is having bitcoin national reserve plan? If I see any country in Africa with that plan, I will list it on this thread.
Heads up: Kenya to legalise cryptocurrencies, says Treasury Cabinet Secretary
The Treasury Cabinet Secretary John Mbadi, said on Friday.
Quote
Cryptocurrencies have been banned in Kenya, but widespread public use has continued underground, circumventing restrictions.
Kenya's financial sector is a beacon of innovation and growth in Africa," Mbadi said in a statement outlining the new policy. "The emergence and growth of Virtual Assets (VAs) and Virtual Asset Service Providers (VASPs) have given rise to innovations in the local and international financial system with dynamic opportunities and challenges
Kenya's financial sector is a beacon of innovation and growth in Africa," Mbadi said in a statement outlining the new policy. "The emergence and growth of Virtual Assets (VAs) and Virtual Asset Service Providers (VASPs) have given rise to innovations in the local and international financial system with dynamic opportunities and challenges
Although this is not a Bitcoin Strategic Reserve proposal for Kenya yet but it's a step towards what we having been expecting in Africa.
I have been reading many news about different countries or people in different countries in talk with regulators and government officials about plans to make bitcoin as a reserve in their respective country. What I am very concerned about is that as many as we in Africa, I means the countries, I have not seen any country that is making a plan like this.
Or maybe I am missing some information. Is there any country that is having bitcoin national reserve plan? If I see any country in Africa with that plan, I will list it on this thread.
Or maybe I am missing some information. Is there any country that is having bitcoin national reserve plan? If I see any country in Africa with that plan, I will list it on this thread.
I will use Nigeria as example to draft why you don't see African countries trying out new ideas. When Tinubu came to office and wanted to take loan from IMF and World bank, they gave him some terms and conditions. He was to remove subsidy, unified the exchange rate and make sure to increased taxation. No loan was granted to Nigeria until this 3 things were done, that's the only way they think Nigeria economy can pay back the loan. This is to tell you African countries can't try new ideas.
Many African countries are loyalist to the west. Any plan they try and it's not incubated by them will be trash in the can and also we see their economy as a model to our own which is why you are yet to see any African countries try such thing as Bitcoin reserve. If there is an succession of Bitcoin reserve by any prominent countries such as United state, France, China and United Kingdom, the expect some African countries to do the same Bitcoin Reserve.
It's no new thing that lots of countries have picked interest in the Bitcoin reserve and trust me, Africa countries are not left out, several countries like Kenya, SouthAfrican, Centra African Republic and even Nigeria has embraced Bitcoin
We have to embrace bitcoin and other cryptocurrencies like the fiat pegged stable coins because of the hyperinflation in Africa countries, not about investment alone but which is also part of the reason. I am specifically referring to use but the government and not citizens. That is because they are the ones that will make bitcoin a strategic reserve in the country.However research have it that Bitcoin is now official currency in Central African Republic and the news is dated back to 2022, which means that they're one of the countries that joined El Salvador to adopt Bitcoin years ago.
It was later reversed.
They made a grave mistake to reverse it, just like El-Salvador i think they would've gradually stabilized their economy and strengthen their fiat currency but then they lacked the vision just like many of us who earlier knew about Bitcoin but failed to accumulate more, well it's not too late and maybe they'll be among the 1st African country to buy the reserve when others start doing it in masses probably after U.S buys the reserve. It was later reversed.
Neither there's non at all isn't my problem but what bothers me most is about Nigerian governments decisions on bitcoin adoption with the continues restrictions of crypto currencies not still lifted for the governments financial facilities to facilitate crypto transactions and the fact they're not following the economy digital trends of countries adopting bitcoin and those who're anticipating to grab bitcoin for their economy national reserve in the nearest feature while Nigeria is just lacking behind without voicing out what their legal plans really is about bitcoin despites how Nigeria had been rated and recognized as one most attributes to the values of influencing the bitcoin industry as a second of dominant bitcoin users and adoptors globally.
So when you reference this to Africa I think this move was expected to be a move by Nigerian first based on their possession on .bitcoin .
So when you reference this to Africa I think this move was expected to be a move by Nigerian first based on their possession on .bitcoin .
It's no new thing that lots of countries have picked interest in the Bitcoin reserve and trust me, Africa countries are not left out, several countries like Kenya, SouthAfrican, Centra African Republic and even Nigeria has embraced Bitcoin
We have to embrace bitcoin and other cryptocurrencies like the fiat pegged stable coins because of the hyperinflation in Africa countries, not about investment alone but which is also part of the reason. I am specifically referring to use but the government and not citizens. That is because they are the ones that will make bitcoin a strategic reserve in the country.However research have it that Bitcoin is now official currency in Central African Republic and the news is dated back to 2022, which means that they're one of the countries that joined El Salvador to adopt Bitcoin years ago.
It was later reversed.In April 2022, the Central African Republic (CAR) adopted bitcoin as legal tender, becoming the second nation in history to do so. However, just a year later, the nation reversed its decision.
Or maybe I am missing some information. Is there any country that is having bitcoin national reserve plan? If I see any country in Africa with that plan, I will list it on this thread.
i believe say nija normally suppose follow for country when need adopt am as her reserve looking at how our currency de bad and how saving in USDT de like a serious disadvantage for us. if only we get younger and well exposed persons in leadership in African countries then adopting a digital technology as her strategy reserve will be an easy thing because it will serve as a serious edge against inflation and the devaluation of most of the African currency.
I have been reading many news about different countries or people in different countries in talk with regulators and government officials about plans to make bitcoin as a reserve in their respective country. What I am very concerned about is that as many as we in Africa, I means the countries, I have not seen any country that is making a plan like this.
Or maybe I am missing some information. Is there any country that is having bitcoin national reserve plan? If I see any country in Africa with that plan, I will list it on this thread.
It's no new thing that lots of countries have picked interest in the Bitcoin reserve and trust me, Africa countries are not left out, several countries like Kenya, SouthAfrican, Centra African Republic and even Nigeria has embraced Bitcoin, though our government is still being Skeptical about embracing it fully but lots of Citizens in our country have embraced it. However research have it that Bitcoin is now official currency in Central African Republic and the news is dated back to 2022, which means that they're one of the countries that joined El Salvador to adopt Bitcoin years ago. Anyways I've not heard of any African government that's publicly opened up to buy the reserve lately but with time lots of countries including those in Africa would follow suit probably after U.S buys the reserve in the near future, even our government would have to option than to buy the reserve to back up our local currency for the future. Or maybe I am missing some information. Is there any country that is having bitcoin national reserve plan? If I see any country in Africa with that plan, I will list it on this thread.
I have been reading many news about different countries or people in different countries in talk with regulators and government officials about plans to make bitcoin as a reserve in their respective country. What I am very concerned about is that as many as we in Africa, I means the countries, I have not seen any country that is making a plan like this.
Or maybe I am missing some information. Is there any country that is having bitcoin national reserve plan? If I see any country in Africa with that plan, I will list it on this thread.
The Question should be is Africa even interested in Bitcoin investment? Talk more of making it a reserved asset like other continent. Well if you ask me I will say that they may likely make it a reserved asset but maybe in the future. Africans don't always follow suit any trend or development as fast as possible when it is at thee rise, rather they will likely wait untill it's too late then they will be struggling to participate. It has always been the bloodline of Africa. Take for example Nigeria is one of the word most Bitcoin adoption country, yet the government is bent on not making it legal. Then when will they think of such idea? They are urkward and shallow in thinking, but let's hope they follow suit with El Salvador. Or maybe I am missing some information. Is there any country that is having bitcoin national reserve plan? If I see any country in Africa with that plan, I will list it on this thread.
While there been any bill or news about an entire Nation(s) in Africa setting up a Bitcoin reserves, the fire fighters union in Kenya has done it recently.
Quote from: https://coinpaper.com/6516/kenya-s-firefighter-union-adopts-bitcoin-reserve-in-historic-move
Kenya’s Firefighter Union Adopts Bitcoin Reserve in Historic Move
The Kenya National Fire Brigades Association has become the first labor union in the country, and potentially in Africa, to adopt a Bitcoin reserve.
The Kenya National Fire Brigades Association has become the first labor union in the country, and potentially in Africa, to adopt a Bitcoin reserve.
If I should pick out African countries to start this Bitcoin reserve thing, then I think South Africa will take the lead, they are somewhat good enough to embracing newly created innovations, lets watch out.
https://khusoko.com/2019/06/12/ibm-expands-its-quantum-computing-program-to-africa-university-of-nairobi-a-key-beneficiary/
https://medium.com/qiskit/ibm-quantum-challenge-africa-how-african-researchers-are-building-a-quantum-community-from-the-5e524f623a99
No country for now, if there were to be then rumors will have been circulating throughout the internet about it , there’s just Central African Republic making Bitcoin a legal tender[ Source] just like Elsavador , no rumors of making it the country reserve.. it’s just a matter of time, sooner than later , they will all join if time permits.
This is why Africa is different from the rest continents because they hardly look into the future and identify a good development that they can benefit from instantly. We only copy the things that we alone will benefit from and not what is good for the growth of our economy. If not will any Africa government say they're not aware of what's happening in the world, as some countries want to use bitcoin as a reserve for their future. It seems Africa countries are not thinking of the future.
Africa is not the only continent that’s yet to do it or make plans although Africa seem to be totally blanked about it for now , only few countries out side Africa has embraced/ considering of making it a national reserve as well, even the mighty USA is yet to do it, all we know for now is a promise to make bitcoin as the country reserve hope fully he does that when he enters… Jump to: