Can ‘Sango Coin’ Catch On in the Central African Republic

By now you’ve probably heard that El Salvador became the first country in the world to adopt Bitcoin as legal tender in September of 2021. Did you know the Central African Republic made a similar move in April, becoming the first country in Africa to welcome a cryptocurrency to its sovereign ranks?

Cue almost immediate expressions of skepticism and concern from organizations like the International Monetary Fund, and the World Bank, to say nothing of internal disagreement and confusion within the country itself.

Why would a country with very low levels of access to electricity or the internet follow the path of a digital token? Who stands to benefit, and who stands to lose?

Joining this episode is Bloomberg reporter Katarina Höije.

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