While those superpowers flex their muscles to the detriment of various virtual currencies, emerging markets are starting to catch on to the wave and their governments and financial institutions seem slow on the uptake.
As a relatively young democracy, South Africa is one of those countries. Ongoing political dramas have hammered the South African rand and have led to recent credit downgrades- which has seen wealthy South Africans look to take their money out of the country.
No rules, no problem
Economist Dawie Roodt has warned other South African’s to do just that amid the recent political and economic instability in the country. Speaking to Cointelegraph, Roodt believes Bitcoin and other cryptocurrencies could be an easy way for South African’s to do just that…