Digital currencies issued by central banks are no longer uncommon in the world. While cryptocurrencies were relatively new on the market a decade ago, they have since gained widespread public acceptance. Several countries, including France, the Bahamas, Canada, China, and others, have looked considering developing their own central bank digital currencies as a result of this.
In line with these developments, I think that Africa will have an important place in the crypto revolution, I am sure that many of the commercial problems will disappear and tourism will revive. An excellent move to encourage the people, I believe if they succeed, Africa will be transformed. A very well thought out article, everything is very clear and clear, I agree with all of them. It's only a matter of time before Africa makes great progress. I trust CBDC
Africa don't want to stay behind from all the other countries and i like that spirit as we have seen in past that Africa and the citizens of Africa has suffered from a huge Poverty and The other Economical Problem's and there was a need to take a step that those times never come back for Africans and i am happy that They are actively participating in every thing for the betterment of Financial industry and i believe that CBDCs development in Africa will change many things for The Government and Citizens and will make their lifestyle easy too
I just hope that they successfully execute their plans and lead their way to a Huge Progress of Country
Crypto Is The Future
If you don't accept it now you will accept it by the time when it will be adopted by the whole world
So Don't lose this time invest your time and money in Crypto wisely and i assure that you will never look back.
DYOR too :)
{ If You didn't like any of my words then i am really sorry and please correct me if i am wrong so that i will try to not make the same mistake again }
It has to start from one point, I consider these kind of news as baby steps. It is really unevitable, and at some point it will create a domino effect where we will be seeing acceptance of cyrpto currencies everywhere :)
Blockchain is definitely a tool for Africa and all emerging continents and countries. A lot of projects are being developed and shall be contributing to a better future for these areas. Thanks for spotlighting this. Nice read as usual.
If CBDCs help the African people by helping everyone get banking support and better control over their assets then I’m all for it. However if it just ends with more corruption then I think it is doomed to fail.
Africa has a growing tech class and a thriving start-up scene with a significant number of companies invested in blockchain and cryptocurrencies. However, the continent still suffers from a lack of visionary and largely corrupt leadership which has kept the economies of most African states in the doldrums, a situation that has led to mass adoption of crytocurrencies due to the freedom and transparency of blockchain tech.
Nigeria is the third largest country for cryptocurrency trade in terms of volume but the general lack of trust between the people and govt institutions such as central banks will negatively affect the success of some of these CBDCs as most benefits associated with cryptos will not necessarily exist in these centralised tokens when they launch and Africans will probably prefer to stick with decentralised assets that are proven.
In my opinion, the issuance of crypto money by central banks means development and convenience for Africa.The fact that it has the potential to prevent even corruption makes it very attractive.
I like the idea that using CBDCs will help fight corruption and hopefully give the people access to their country's financial transactions in an open and transparent way.
This means something is happening and that’s great !
Little by little places all over the world are changing the way our life works hopefully to get soon into a point where cryptocurrency is going to be a world wide accepted and used currency.
It's good news that countries ' central banks are turning to crypto. Such steps increase confidence in crypto. States should develop cryptos rather than ban them. Because it's really good technology, and some people don't realize it. Thank you for this beautiful article.
In line with these developments, I think that Africa will have an important place in the crypto revolution, I am sure that many of the commercial problems will disappear and tourism will revive. An excellent move to encourage the people, I believe if they succeed, Africa will be transformed. A very well thought out article, everything is very clear and clear, I agree with all of them. It's only a matter of time before Africa makes great progress. I trust CBDC
Thanks for the article.
It is good news that countries and central banks are taking such steps.
This means that the acceptance and availability of cryptocurrencies around the world will increase even more.
If Africa takes such a step, it will lead to other countries.
Thank you for your useful article
It might be the best thing to do after El Salvador.
We know that Africa is a backward continent compared to others.
But only with crypto can they change that. At least I think so.
States need to support it, not prevent it.
The first states to make these movements will see the differences very seriously in the future.
And I think that this serious difference will be in a good direction.
This is a great opportunity, especially for all the countries of the world.
Crypto is technology. Technology is the future.
Just as those who first discovered bitcoin won, those who put it into practice will win.
I hope all countries agree before it's too late.
I'd be very happy if the country I live in did something like this.
Thanks for the article.
Have a nice day.
Africa don't want to stay behind from all the other countries and i like that spirit as we have seen in past that Africa and the citizens of Africa has suffered from a huge Poverty and The other Economical Problem's and there was a need to take a step that those times never come back for Africans and i am happy that They are actively participating in every thing for the betterment of Financial industry and i believe that CBDCs development in Africa will change many things for The Government and Citizens and will make their lifestyle easy too
I just hope that they successfully execute their plans and lead their way to a Huge Progress of Country
Crypto Is The Future
If you don't accept it now you will accept it by the time when it will be adopted by the whole world
So Don't lose this time invest your time and money in Crypto wisely and i assure that you will never look back.
DYOR too :)
{ If You didn't like any of my words then i am really sorry and please correct me if i am wrong so that i will try to not make the same mistake again }
It has to start from one point, I consider these kind of news as baby steps. It is really unevitable, and at some point it will create a domino effect where we will be seeing acceptance of cyrpto currencies everywhere :)
Last I herd china was grooming parts of Africa, if they put them on a chinese cbdc then they will really have control of the regions they touch.
Blockchain is definitely a tool for Africa and all emerging continents and countries. A lot of projects are being developed and shall be contributing to a better future for these areas. Thanks for spotlighting this. Nice read as usual.
Blockchain should be everywhere, a big door to the world, these news make me happy
If CBDCs help the African people by helping everyone get banking support and better control over their assets then I’m all for it. However if it just ends with more corruption then I think it is doomed to fail.
Africa has a growing tech class and a thriving start-up scene with a significant number of companies invested in blockchain and cryptocurrencies. However, the continent still suffers from a lack of visionary and largely corrupt leadership which has kept the economies of most African states in the doldrums, a situation that has led to mass adoption of crytocurrencies due to the freedom and transparency of blockchain tech.
Nigeria is the third largest country for cryptocurrency trade in terms of volume but the general lack of trust between the people and govt institutions such as central banks will negatively affect the success of some of these CBDCs as most benefits associated with cryptos will not necessarily exist in these centralised tokens when they launch and Africans will probably prefer to stick with decentralised assets that are proven.
Just my take.
In my opinion, the issuance of crypto money by central banks means development and convenience for Africa.The fact that it has the potential to prevent even corruption makes it very attractive.
We need these kinds of steps in the system! Thanks for the article
I think my favorite aspect of digital currencies is,
A great option to fight corruption.
This is a situation that people from third world countries experience more often.
If you're not a good enough rule of law, someone doesn't mind committing corruption.
because they're usually corrupt, they know what they're doing will get away with it.
what makes me the happiest,
the end of these corrupt people
digital currencies allow us to act securely without having to trust a human, that's the revolution
You can't trust everyone, especially when it comes to money
thanks for the great article
This just goes to show that crypto is the future.
I like the idea that using CBDCs will help fight corruption and hopefully give the people access to their country's financial transactions in an open and transparent way.
This means something is happening and that’s great !
Little by little places all over the world are changing the way our life works hopefully to get soon into a point where cryptocurrency is going to be a world wide accepted and used currency.
It's good news that countries ' central banks are turning to crypto. Such steps increase confidence in crypto. States should develop cryptos rather than ban them. Because it's really good technology, and some people don't realize it. Thank you for this beautiful article.