In real terms , where are we on this ?
Mauritius and its neighbouring islands have adopted a very cautious approach in regards to crypto-assets . Buying Bitcoin is not simple and the methods of payment do not exist . But it ’ s not only in this region , Asia and the Americas remain leaders in this area . In Africa , there are lots of announcements but very few concrete developments . There are two exceptions , Tanzania and most notably Ethiopia which counts on blockchain in the education sector .
Why is it so slow ?
Currency has always been a tool of power and sovereignty for states . Bitcoin is a decentralised currency , liberated from all authority . It is participative , each person can intervene to improve their code . It is a denationalisation of money : the power is put back in the hands of the citizens . And in contrast to classic currency , Bitcoin is limited to 21 million units , which puts the brakes on the creation of money . All this makes people very apprehensive .
Do you see this as a new digital gold ?
We tend to compare Bitcoin to gold ; I would say that Bitcoin is the practical version of gold . It can be transported and problems about authenticity don ’ t occur . Beyond digital currency , another revolution is playing out : the decentralisation of finance . This alternative ecosystem is already worth 140 billion dollars , twelve times the Mauritian GDP . And that is just the beginning .
El Salvador has just adopted Bitcoin as its legal tender alongside the American dollar . What do you think of this choice ?
It ’ s a first for a state , a sort of crash-test . Paying for bread , vegetables or one ’ s taxes using Bitcoin is now possible in this country . It is too early to reach any conclusions however this decision reflects a fundamental trend : the calling into question of the dollar as the principal reserve and exchange currency . Will Bitcoin be able to take advantage of the situation ? I hope so !
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