Understanding the Role of Cryptocurrencies in Advancing Financial Inclusion and Digital Transformation in Selected Developing Countries

Abstract

cryptocurrency economy. China and other nations within the Center East have forced strict confinements on the utilize of virtual monetary forms due to fears of extortion and devout reasons. On the other hand, in September 2021 and April 2022, separately, El Salvador and the Central African Republic came beneath worldwide investigation due to the choice to legalize Bitcoin. These two measures incorporate fortifying the economy by expanding outside speculation and tourism, as well as decreasing dependence on existing banks. Be that as it may, Bitcoin's evolution raises concerns almost its capacity to operate as a cash and increments the probability that it'll make money related choices that hurt defenseless populaces. In expansion, the need of web get to in El Salvador and the Central African Republic raises concerns about the social and financial disparities that could arise during the Extraordinary Subsidence. The long run of cryptocurrencies in creating nations may be a complex and complex subject that may influence how people, businesses, and governments make imperative financial choices within the coming a long time.