The Central African Republic has one of the lowest GDPs in the world and less than 1% of the population has access to financial services such as banks. On July 3, 2022, the country’s president launched massive plans to change this with the help of blockchain technology. A project that I also had the opportunity to work on and which could set a precedent for many emerging economies.
It’s expensive to be
When using blockchain in countries with less economic clout, you quickly think of the introduction of Bitcoin as legal tender in El Salvador. An experiment that I look at with great interest and find partly positive. Jushe national GDP (gross domestic product) is earn in neighboring countries and sent back to the family in El Salvador by the workers. The high transaction Training Directors Email Lists costs charg by parties such as Western Union aroney that the inhabitants of the poverty-stricken country can use very well. As the Economist recently nicely wrote: “ It’s expensive to be poor ”.
Blockchain provides a
The most important infrastructure for an emerging economy to really take off? Research by parties such aancial infrastructure at number 1. The possibility of having a bank account to save and pay, take out insurance and loans. This is not yet common practice for more than 2 billion people worldwide, especially in countries with little economic strength. Often these people are not accept as customers of a bank or the financial products are simply not available.
For me, the greatest impact of blockchain is not the price of cryptocurrencies, but the digital infrastructure it offers to build emerging economies in different areas. From finance to identity, from tourism to investments. It is not surprising that the Central African Republic (CAR) is now taking such big steps. President Faustin-Archange Touadéra has a PhD in cryptograph