Growing interest in cryptocurrencies in Africa

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The popularity of cryptocurrencies has been increasing around the world.

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Many countries are considering whether they should legalize cryptocurrencies.

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The Central African Republic recognized bitcoin as a currency last month.

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There are also many countries launching Central Bank Digital Currency (CBDC) in Africa.

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In this episode, Uganda plans to launch a CBDC. Nigeria had launched a digital currency called eNaira.

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Africa grew nearly 1,200 percent last year, according to data from blockchain data platform Chainalysis.

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 Ghana plans a blockchain-based digital currency, 'eCedi,' to digitize its economy and curb corruption

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CBDCs are regulated by central banks and are similar to cryptocurrencies.

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It is built on a blockchain network, making transactions centralized and traceable.

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