Tanzanian President Samia Suluhu has urged the country to prepare for the usage of cryptocurrencies, which has given Bitcoin a significant boost.
Her remarks in Mwanza on Sunday came barely a few days after El Salvador declared Bitcoin as a legal tender. A number of South and Central American countries have also shown their willingness to formally accept Bitcoin’s usage.
President Suluhu encouraged financial executives to prepare for cryptocurrencies, declaring that the era of crypto and blockchain has arrived, and urging her nation to pave the way for change.
She said that Tanzania’s central bank should undertake the required preparations to embrace global banking attitudes, citing cryptocurrencies as the future of finance.
“We have witnessed the emergence of a new journey through the internet. The Central Bank should be ready for the changes and not be caught unprepared,” she said.
Outside of El Salvador and a few neighboring countries, this is the first time a country’s president has officially recognized serious adoption of digital currency.
The news from Tanzania came on the heels of recent comments from Tesla chief, Elon Musk, who has arguably been the most influential figure in Bitcoin’s price since its conception more than a decade ago.
