in #hive-1679223 years ago

Little countries with poor infrastructure and poorer people are going to be what drives crypto adoption. These countries will opt for adopting BTC before they adopt CBDC's because their people won't use the CBDCs because the trust is just not there, let alone the ability of the bankrupt central banks in those countries to push out a cbdc.

A lot of these countries that are potential BTC adopters are current or former victims of the Chinese Belt and Road intiatives, as well. The CCP impoverished and basically enslaved many African countries and South American countries to infinite debt through the BRI. BTC adoption could give those countries a way out of the crushing weight of debt-bondage slavery.

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Source: Council on Foreign Relations

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Fascinating concept. Do you think China is for or against these countries' adoption of Bitcoin?

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I think China is firmly against these BRI countries' adoption of BTC because China no longer controls the hash rate of BTC; North America does now.

Take a look at this document from the Observer Research Foundation ngo: "China’s belt and road initiative: Implications in Africa" - L. VENKATESWARAN.

There is most definitely a debt trap occurring in Africa in regards to the majority of these poor countries owing the majority of their debt now to China.

It is my opinion that these countries, like Kenya, which owe 78% of their external debt now to China, will significantly push for widespread civil crypto adoption. They're being left with next to no other alternative.

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