Senegal to Introduce Blockchain-based Currency to West Africa, eCFA

[kreslik.news]

One major hope of bitcoin advocates was that the cryptocurrency will take a leading role in commerce in emerging markets but now it seems that the blockchain technology it is based on will be adopted by established local institutions first.

As the latest example for this trend, the African nation of Senegal is preparing to issue an official blockchain-based legal tender according to reports from the region. The eCFA franc as it will be called will be in circulation in parallel to the current physical CFA franc bank notes.

The CFA franc is actually the name of two currencies used ... (read more)