Fiji elects a new pro-Bitcoin leader. Could 2023 be the year for nation-state adoption?
December 29, 2022
Lord Fusitu’a explained to Cointelegraph in Twitter messages that “The new PM is definitely pro-Bitcoin.” “He asked to meet with me which we did via zooms since last year to walk him through step by step, how he could adopt bitcoin legal tender.”and could pass as early as February 2023. Fiji faces similar economic and developmental challenges to Tonga due to its location and history. However, with almost 900,000 people, Fiji's population is more than nine times the size of Tonga.
The potential for Bitcoin to improve financial inclusion in Fiji is particularly significant given the country's geography and economic situation. Located in the Pacific Ocean, Fiji is made up of over 330 islands. It is classified as a middle-income country but still faces significant development challenges, including high poverty rates, limited access to financial services and energy dependence on fossil fuels.Indeed, the World Bank reports that remittance into Fiji is over 11% of its GDP.
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