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{"id":4682,"date":"2022-04-29T14:40:28","date_gmt":"2022-04-29T14:40:28","guid":{"rendered":"https:\/\/scienceandnerds.com\/2022\/04\/29\/second-country-to-adopt-bitcoin-as-national-currency-is-the-central-african-republic\/"},"modified":"2022-04-29T14:40:29","modified_gmt":"2022-04-29T14:40:29","slug":"second-country-to-adopt-bitcoin-as-national-currency-is-the-central-african-republic","status":"publish","type":"post","link":"https:\/\/scienceandnerds.com\/2022\/04\/29\/second-country-to-adopt-bitcoin-as-national-currency-is-the-central-african-republic\/","title":{"rendered":"Second country to adopt Bitcoin as national currency is the Central African Republic"},"content":{"rendered":"

Source: https:\/\/www.theverge.com\/2022\/4\/29\/23048142\/bitcoin-adopted-official-currency-central-african-republic-car-why<\/a>
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The Central African Republic (CAR) has become the second-ever country to adopt Bitcoin as a national currency, following El Salvador\u2019s adoption<\/a> of the cryptocurrency last year. <\/p>\n

CAR\u2019s government says a bill to adopt Bitcoin was passed unanimously by the country\u2019s parliament, reports Reuters<\/em><\/a> and BBC News<\/em><\/a>. (Though former CAR prime minister Martin Ziguele complained<\/a> the bill was approved \u201cby proclamation.\u201d) The office of CAR president Faustin-Archange Touadera claimed the move would \u201cimprove the conditions of Central African citizens\u201d and distinguish CAR as \u201cof the world\u2019s boldest and most visionary countries.\u201d<\/p>\n

However, geopolitical analysts and financial experts are confused<\/a> by motivations for the move. CAR is a landlocked nation that is rich in resources like gold and uranium, but remains one of the world\u2019s poorest countries. It has been wracked by civil war since 2012, and only 11 percent<\/a> of the 4.8 million population have access to the internet. It is one of six states in Africa to use the Central African CFA franc as its currency \u2014 \u201ca regional currency that is backed by France and pegged to the Euro,\u201d according to law firm<\/a> Baker McKenzie.<\/p>\n

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