the group of international bitcoin specialists presents its report

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The group of international bitcoin specialists, who visited the Central African Republic at the end of May, sent an analysis note to Central African President Faustin-Archange Touadéra. Experts discuss the important projects to be carried out to make the law on cryptocurrencies passed at the end of April applicable.

Among the favorable elements, according to this report: the legal framework, the regular use of mobile payment and the low bankarization of the population, of the order of 5%. For specialists, this context offers a good breeding ground for using a virtual currency.

But several elements described are worth noting: the lack of access to electricity, internet and the issue of education about bitcoin. The authors of the report proposed to set up a ” embassy ” or a ” bitcoin house responsible for providing training. They insist on awareness programs in administrations, companies, or even universities.

Another according to them: the need to present an identity document to obtain a SIM card limits individual subscriptions, therefore access to mobile payment, and, ultimately, to cryptocurrencies. These specialists insist that they are not “ not involved in the Sango project led by President Touadéra. “ We do not have enough details and his problem is not taken into account in our analysis » they specify.

► To read again: The Central African Republic adopts a law on cryptocurrencies

A worrying cryptocurrency law

Opponents and civil society organizations continue to declare ” precipitation ” and “ opacity “of a law” radically contrary to sovereignty of the country, according to the G-16 platform, the Action Group of Civil Society Organizations for the Defense of the Constitution of March 30, 2016.

On Saturday, bitcoin fell below $20,000, its lowest level in 18 months, continuing to decline on investor jitters over growing problems in the digital currency industry and a continued decline in the appetite for the riskiest assets. The largest and most well-known cryptocurrency continues to decline in value and has now lost around 61% of its value against its exchange rate of $48,234 on March 28.

Listen again Today the economy: Will the bitcoin debacle jeopardize projects in the Central African Republic and El Salvador?


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