4 ms·

Not sure if CAR understands the implications. With 11% of the people having access to the internet, what could go wrong with crypto as a legal tender.

sremani 4y ago
and only 14% of the people have electricity even though things may rapidly improve in near future, this society is far from ready to accept digital currency.
- eldaisfish 4y ago
  things may improve but in a country that is not just poor, but piss poor and with a declining GDP, things are unlikely to improve. Besides, there is one hydro power station in the country. Other than the hydro, there is one diesel plant. That's it. This article is nothing but clickbait.
- nkuttler 4y ago
  > and only 14% of the people have electricity That number is probably for electricity at home, considering that 33% of the people have mobile phone subscriptions. Mobile payment solutions are very successful in Africa, in part because the infrastructure is lacking. One house/shop with electricity can easily power many phones.
  - mdaniel 4y ago
    I recall One Laptop Per Child didn't shake out, but I'd *gladly* move my Kiva dollars over to buying solar panels and OLPC-ish setups, if(?) it wouldn't get eaten by the corruption quagmire OT1H, it's entirely possible the Kiva dollars are doing more material good, what with the "you spend on what you need" mental model. OTOH, investing in infrastructure sure does feel more productive
- robonerd 4y ago
  Less than 1% of the people there even have a bank account.
jrochkind1 4y ago
But like the very specifics... is there any creditor in CAR who is going to be forced to take bitcoin as payment, who wouldn't have done it voluntarily before? Or is there something about this other than the most basic definition of what "legal tender" means? Or is this just 100% PR? Like does this actually change a single thing for anyone, even rich people, in CAR?
- andi999 4y ago
  Since it is at number 154 of the corruption index: https://en.m.wikipedia.org/wiki/Corruption_Perceptions_Index https://en.m.wikipedia.org/wiki/Corruption_Perceptions_Index What most likely will happen: enforcers will take stuff, tell you they pay with crypto, since you cannot receive it you have to pay a fine on top.

sremani 4y ago

and only 14% of the people have electricity even though things may rapidly improve in near future, this society is far from ready to accept digital currency.

eldaisfish 4y ago
things may improve but in a country that is not just poor, but piss poor and with a declining GDP, things are unlikely to improve. Besides, there is one hydro power station in the country. Other than the hydro, there is one diesel plant. That's it. This article is nothing but clickbait.
nkuttler 4y ago
> and only 14% of the people have electricity That number is probably for electricity at home, considering that 33% of the people have mobile phone subscriptions. Mobile payment solutions are very successful in Africa, in part because the infrastructure is lacking. One house/shop with electricity can easily power many phones.
- mdaniel 4y ago
  I recall One Laptop Per Child didn't shake out, but I'd *gladly* move my Kiva dollars over to buying solar panels and OLPC-ish setups, if(?) it wouldn't get eaten by the corruption quagmire OT1H, it's entirely possible the Kiva dollars are doing more material good, what with the "you spend on what you need" mental model. OTOH, investing in infrastructure sure does feel more productive
robonerd 4y ago
Less than 1% of the people there even have a bank account.

jrochkind1 4y ago

But like the very specifics... is there any creditor in CAR who is going to be forced to take bitcoin as payment, who wouldn't have done it voluntarily before? Or is there something about this other than the most basic definition of what "legal tender" means? Or is this just 100% PR? Like does this actually change a single thing for anyone, even rich people, in CAR?

andi999 4y ago
Since it is at number 154 of the corruption index: https://en.m.wikipedia.org/wiki/Corruption_Perceptions_Index https://en.m.wikipedia.org/wiki/Corruption_Perceptions_Index What most likely will happen: enforcers will take stuff, tell you they pay with crypto, since you cannot receive it you have to pay a fine on top.