Rwandacoin: Prospects and challenges of developing a cryptocurrency for transactions in Rwanda
Oluwafunmilola Kesa, Violette Mahoro
TL;DR
This paper examines the potential and obstacles of creating Rwandacoin, a cryptocurrency for Rwanda, highlighting its prospects for facilitating regional trade and addressing development challenges.
Contribution
It provides an analysis of the prospects and challenges of developing a national cryptocurrency in Rwanda, focusing on regional trade and economic implications.
Findings
Rwandacoin could enhance intercountry trade in East Africa.
Cryptocurrency development faces technical and regulatory challenges.
Potential to improve financial inclusion in Rwanda.
Abstract
The use of cryptocurrencies such as Bitcoin and Ethereum in performing online transactions has been on the rise in the world. Africa as a continent is not left out in the adoption of blockchain and cryptocurrencies. This paper explores the prospects and challenges of developing a cryptocurrency in Rwanda which we denote Rwandacoin. In addition, the paper discusses the potentials of Rwandacoin easing intercountry trading in East Africa.
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Taxonomy
TopicsBlockchain Technology Applications and Security · Crime, Illicit Activities, and Governance