Opinion

Crypto-shenanigans meets disaster capitalism in the Pacific

Peter Griffin
Thu, 10 Feb 2022

Crypto-shenanigans meets disaster capitalism in the Pacific
Will Pacific Islands follow El Salvador and embrace Bitcoin as a means of financial exchange? (Image: Getty)
Peter Griffin
Thu, 10 Feb 2022
El Salvador’s move in September to make bitcoin currency legal tender alongside the US dollar has sparked something in our neck of the woods as well.Pacific island nations are hatching similar plans to jump on the crypto bandwagon as a way to generate much-needed cash for their stagnant economies, which have been reliant on a tourism industry battered by covid and fragile agriculture and fishing operations. Tonga’s lawmakers will this year consider plans to follow in El Salvador’s footsteps, embracing bitcoin as a means o...

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