As more and more countries adopt Bitcoin and other cryptos into their country’s governing bodies, Africa will not be left behind. In particular, the President of Tanzania, Samia Suluhu Hassan is encouraging the nation’s central bank to indulge in cryptos.
Hassan emphasized the increasing impact of digital assets on global finance, stating: “We have witnessed the emergence of a new journey through the internet.”
She highlighted the lack of crypto adoption and development in the East African region, stating: “Throughout the region, including Tanzania, they have not accepted or started using these routes.”
Hence, she tells the Central Bank that it must begin to work on developing this new technology. Mainly, she states that this must be a priority so the nation will not be caught in a surprise when the world decides to make sudden changes for the future.
Hassan’s comments come on the heels of numerous Latin lawmakers pushing for greater crypto adoptionin other emerging economies, including El Salvador — where Bitcoin has been mandated as legal tender.
While African legislators have been slow to recognize and encourage the crypto economy, the region has been a hotspot for peer-to-peer (P2P) Bitcoin trading for years.
According to Useful Tulips, Sub-Saharan African is the second-largest region for P2P trading behind North America, representing roughly $16.5 million in weekly volume.
Source: Cointelegraph, CoinQuora