Central African Republic: Bitcoin Sector Players Welcome to Bangui

Published: 23.05.2022 – 02:34

The Central African Republic adopted bitcoin as legal tender on April 22. It is the second country in the world after El Salvador. This initiative is of interest to bitcoin players. It is in this context that a dozen players from this sector will travel to Bangui in the coming days at the invitation of the authorities of the Central African Republic. The invitation mentions, in particular, participation in the debate at the conference.

At the head of this delegation is Sebastien Guspillou. He is the president of BigBlock’s green service. He already advises El Salvador. The newspaper Les Echos describes him as one of the biggest players in the mining industry in Europe.

“There is no commercial intent in our approach, it is actually a group of international bitcoiners who see this country claim that bitcoin is legal tender and who want to help make it successful for everyone. Because for our ecosystem, if it’s a failure, it’s not good, it’s a bad signal. We will go there, see how things are in the country, what are the intentions of the leaders, and see if we continue to give them all the help we can. »

► Read also: Central African Republic adopts cryptocurrency law

The team hopes their findings will help avoid the trap of “scammers” in jargon.

There are many problems: a very underdeveloped electricity network, a weak development of the Internet… “Actually, we have to determine how we can make this possible. We’re trying to figure out how we could ensure that this population, or at least those who already have a smartphone, can exchange over the Lightning network. We need to think about relay antennas in order to be able to work on the telephone network, and not on the Internet. »

But for Sebastian Goospiyo, the country also provides opportunities. “Hydropower potential is significant, we can finally think about creating these power plants, which are lacking in the country, financed by bitcoin mining. This is an idea that could make sense very easily. »

Exchanges are planned with the authorities, as well as with the merchants of the country.

► Read also: Central African Republic bitcoin adoption worries BEAC and World Bank


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