There are two forward-looking countries on Earth when it comes to Bitcoin: El Salvador and the Central African Republic. These two very different countries on different sides of the globe have both come to the same conclusion: Bitcoin is the best money ever invented and embracing it early will be beneficial both for the people of the adopting nation and to the benefit and preservation of the concept of the nation-state itself.

There are other countries on the other hand, that are not led by gifted and insightful people. Uganda may be one such example, the central bank of which has just made this very ill-advised announcement, demonstrating a complete lack of understanding of all the matters to do with money and the great changes that are coming to how it is accounted for.