Bitcoiners criticise the rumoured launch of a cryptocurrency in the Central African Republic.

July 5, 2022

Why the Central African Republic wants to use Bitcoin in the future

Bitcoiners criticize the rumored launch of a cryptocurrency in the Central African Republic.

Faustin-Archangel Touadera, the president of the Central African Republic (CAR), recently announced that cryptocurrencies are an alternative to cash. However, Bitcoiners insist that the best cryptocurrency is the only solution to CAR’s monetary problems. The President of the Central African Republic, Fausten-Archangel Tutera, said digital currencies are an alternative to fiat money. Tutra also said that “the formal economy is no longer an option” for the CAR. According to Zawya, Tutera’s latest comments in support of the cryptocurrency came just as his country unveiled the Blood Currency, a cryptocurrency that officials say is being used to access the CAR’s natural resources. President Tutra explained: the Blood Currency will be the currency of the new generation of the Central African Republic. Meanwhile, in one of his tweets ahead of the so-called Blood Crypto Hub initiative, Tawadra stated that digital gold (Bitcoin) will serve as the “engine of our civilization” in the future, as gold has done in the past.

However, CAR’s goal of providing bitcoin-backed cryptocurrencies has not been well received by many bitcoiners. On Twitter, some bitcoiners question the motivation behind CAR’s decision to issue its own digital currency because they believe bitcoin is already the solution the country needs. For example, one of the users, David da Silva Rosa, said the CAR president should not spend time in office “promoting dubious projects”. Instead, it should focus on fixing money. Another user, E-Money, said, “You just lost. Why do you say you accept bitcoin [and] then try to make your own sh * tcoin? Like everything else, it will fail. Other users have suggested that CAR abandon the idea of ​​offering their property.

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