Central African Republic Becomes First In Africa To Adopt Bitcoin.

Central African Republic has become the first African nation to adopt Bitcoin and the second in the world behind El Salvador to accept Bitcoin as a means of payment following the Nation’s National Assembly approval.

This means Bitcoin shall now be accepted as a means of payment thereby making the Central African Republic, the first in the continent, to legally allow it’s 4.3 million citizen use Bitcoin as a means of payment . As reported by Forbes Monaco, the National Assembly unanimously adopted the bill thereby putting Bitcoin (BTC) at the center of its economic recovery.

“The application of the legal-tender implies the acceptance of cryptocurrencies as a legal means of payment established through specific legislation. With cryptocurrencies, the Central African Republic is moving towards a new, avant-garde path of development and economic performance, a dynamic field which is popular among investors around the world and ever-present as full-fledged assets in the portfolios of the world’s largest financial players”.

The recent development will pave the way for transforming the digital infrastructure of the Central African Republic. It will also give a major thrust to the implementation of the blockchain technology innovation essential for the project’s implementation.

The opposition parties in the CAF have also supported the move with the hope that digital assets would benefit the larger population of the country. The parliamentary groups Mouvement Cœurs Unis (MCU) and Mouvement National des Indépendants (MOUNI) have voted in favor of the law.