Bitcoin is now being adopted by Central Bank of Kenya
(WorldNews Africa)

Kenya turns to Bitcoin to fight depreciating shilling While the Central Bank of Nigeria has placed a ban on bitcoin and other crypto-related activities, another African bank is turning to for answers. Amid rising depreciation rates of the Shilling, Kenya`s Central Bank wants to switch its base currency to Bitcoin. For several decades, the Kenyan Shilling has been on a downward trend. The fiat currency has lost nearly 50% of its value against the U.S. dollar since 2010. In 2020 alone, the Shilling dropped by almost 10% when compared to the dollar. Whilst the Kenya government is pointing fingers at the COVID-19 pandemic and the International Monetary Fund for its woes, officials believe that...