Bitcoin and the Togolese Revolution
The struggle against neo-colonialism in Africa has largely been a struggle for complete independence. Decolonization was a process in which African nations gained a semblance of independence. They were free to select their own flags, draft their own constitutions, and create their own national anthems. The freedom of independence was restricted, however. Western powers retained control over Africa’s resources and finances.
Togo is an example of this. When Togo’s first president, Sylvanus Olympio, attempted to create an independent currency for Togo, he was assassinated in a French supported coup. Today, Togo is still among the African nations which use the CFA franc as its official currency. Togo is also a military dictatorship in which the government maintains a very tight control over the finances of the country as well.
It is for this reason that bitcoin has become to adopted as a tool of resistance by activists in Togo. Bitcoin is decentralized, which means that the dictatorship in Togo cannot exercise control over it as it does with the currency of Togo. One of the methods which the Togolese government has engaged in has been to close the bank accounts of activists who have opposed the government. Bitcoin allows for citizens of Togo to exercise more financial freedom.
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Dwayne is the author of Hackers, Politicians, and Monarchs and several other books on African and African Diaspora history.
