The Global Role of Bitcoin
The Breakdown
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Bitcoin and the Argentine Economy
The C.F.A. Franc was created in 1945 as part of an attempt to create currencies in French colonies after the Bretton Woods Agreement. The currency is still controlled by the French Treasury and because of that, African countries effectively channel more money to France than they get an aid. In January 2019, Italian ministers even accused France of impoverishing Africa through this currency. But it also likely means that there was intense pressure behind the scenes so as not to start a stampede away from the old system.
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