Another roundup of blockchain adoption news, led by confirmation that the Central African Republic (CAR) became the first country in Africa and the second in the world after El Salvador to make bitcoin legal tender, along with the national currency.
According to official statement of the minister of digital economy and telecommunications
“The country has long been suffering from poverty, poor human rights and civil war and the adoption of Bitcoin in the country, is to work towards economic recovery and transform his digital infrastructure”
The government said citizens can use it in regular commerce and also to pay taxes.
President Faustin Archange Touadera has signed it into law, according to Chief of Staff Obed Namsio.
“This move places the Central African Republic on the map of the world’s boldest and most visionary countries”, Namsio said in a statement.
Last year El Salvador became the first to adopt Bitcoin as legal tender, now CAR Central African Republic, but there will be more to follow. Almost every country is struggling with high inflation, especially smaller economies with hyperinflation and it looks like Cryptocurrencies lead by Bitcoin, may be the solution to this global economical problem.
Other Bitcoin adoption, related news for the past week is the integration of Bitcoin’s L2 Lightning Network in the gaming industry as part of ongoing adoption process, as games opt for more of these small and microtransactions. Bitcoin’s Lightning Network can clearly play a role. Its commerce layer can handle cheap, fast microtransactions as small as a single satoshi (1/100,000,000th of a bitcoin (BTC), ~$0.0004), allowing players to make easy in-game payments.
Payment network Strike has announced integrations with Shopify, alternative payment processor Blackhawk Network and point-of-sale provider NCR, making it easier for global merchants to accept BTC payments. Bitcoin Lightning Network, a second layer built on top of the Bitcoin blockchain, will convert BTC payments into dollars quickly, relieving merchants of complexities associated with actually holding Bitcoin.
In other Bitcoin adoption news is that Fort Worth, Texas, will become the first U.S. city to permit its residents to pay their taxes in cryptocurrency.
The new state assembly has passed a two-year new fossil fuel-based mining moratorium in New York, effectively preventing the state from approving any additional applications for large-scale coal or oil shale mining.