Kenya's President calls for African nations to ditch the US dollar for trade settlements.
Kenyan President William Ruto recently urged his counterparts on the African continent to kickstart the process of ditching the U.S. dollar and replacing it with a pan-African settlement system. Ruto said the Pan-African Payments and Settlement System (PAPSS) allows business people to focus on moving goods and services.
Do questions remain are the ways for all African to start using Cryptos as a global payment rather than depending on the US dollar?
Below are some comments from different people concerned with Kenya's decision
A global CBDC is the only solution
All these 3rd world countries... Honestly I feel sorry for them... they have a bad surprise coming.
I don't think that is entirely true, although there's some truth to it, and I do feel that is horrible and regrettable even though I had nothing to do with it and don't condone it. I wish only the best for them and hope they are prosperous, which is why I feel sad that they're currently making decisions that may continue to perpetuate that pattern, in the hands of China this time.
What do you think about Kenya's President's calls for African nations to ditch the US dollar for trade settlements?