There are two forward-looking countries on Earth when it comes to Bitcoin: El Salvador and the Central African Republic.
There are other countries on the other hand, that are not led by gifted and insightful people. Uganda may be one such example, the central bank of which has just made this very ill-advised, ill-timed announcement, demonstrating a complete lack of understanding of all the matters to do with money and the great changes that are coming to how it is accounted for.
Future-oriented governments will be desperate to fully embrace Bitcoin and its dynamics, knowing that the probability that it will become the world’s reserve currency is one.
Doing business on the continent of Africa is very difficult. It is difficult to get payments in and very difficult to get payments out. For example, there is a black market exchange rate, and the government sanctioned exchange rate in Nigeria, meaning that there are two economies running in parallel, on top of the difficulty of moving money out.
Moving money is fraught with difficulties and multiple ways of making a loss on a transfer. These piled up losses can make it impossible to earn a profit, and if you do, impossible to spend or recycle it where you need to spend or recycle it.
What is holding back the Nigerian people is the totally corrupt, protectionist and anti-Nigeria CBN, which is preventing the flow of money and flourishing of innovation there.
Nigerians (presently one-third of them) are openly rejecting the system there and voluntarily opting into a nongovernmental system of money and finance because it is better and more suited to the Nigerian character of innovation.