A continent where a 92+ yo president still running for re-election cannot be trusted with our money 😅

I would not trust any government to be honest about any reserves they claim to own. The US still has not shown proof or gold reserves or it’s Bitcoin reserves. African countries are known for the corruption in the government and volatile when it comes to the rule of law which puts these countries far from the top of the leader board when it comes to trust. This alone is enough proof that their plan will fail not to mention, as the article mentions, the low levels and poor conditions of infrastructure. Sound like a good idea but so does the idea of world peace.

The biggest issue I see with this is who is going to hold and account for the rare earths.... A ton of African governments have struggled with insurgencies and violence so what if a convoy of stuff gets stolen???

anything any government guarantees on paper is not worth that paper. only trust atomic swaps and good smart contracts. )))

Interesting idea, but didn't work out for Zimbabwe when they started using a gold-backed currency tho, right?

Why would you use consumable material as money? That is kinda crazy. Monetary use case will compete with industrial use case.