Making BCH a legal tender is not an experiment but a mission fulfilled

The goal of making Bitcoin Cash (BCH) a legal tender was never a passing fad, but a mission to bring financial freedom to as many people as possible. And now, after almost 4 years, we are one step closer to realizing that mission. Last week, Roland Brison, a highly respected parliament member of the St. Maarten island nation officially announced to the world his intention of preparing a bill of making BCH a legal tender in the island nation. The decision, which was widely expected, after having accepted to have his entire salary paid in BCH going forward.

That kind of official backing is a watershed moment for BCH, It means that BCH is no longer viewed as a curiosity or a fad by high-level political leaders. It’s viewed as a serious financial instrument that may one day supplant traditional payments systems. And that kind of recognition is what’s going to drive adoption.

When we heard about the news coming from St. Maarten with Roland Brison pushing for a parliamentary bill to make BCH a legal tender in the Caribean island nation many in some quarters would think of it as the El-Salvador BTC failed experiment, but BCH is on a league of its own in the crypto sphere and has gone passed the experiment phase.

BCH as a medium of payment and store of value has been tested in both shallow and deep water situations. It has survived the confiscation of all attacks by haters and naysayers. BCH has passed the test that BTC failed to complete. BCH is a step closer to its dream of becoming a worldwide currency, a currency of last resort, which people will trust and put in their wallets to survive the uncertainty, and not for speculation.

When we think about the process of making crypto a legal tender in any nation, we will be thinking of a special application that can solve the problem of scalability and transaction cost. That is not the case with BCH. BCH does not need special technology for a killer app that can scale and be cost-effective. BCH is scalable without any special technology, and its transaction fees are designed to be very low.

BCH will always be easily usable as money, no matter the status of any nation would have on the crypto horizon. It is important to understand that BCH does not need special technologies to create a payment system that can scale without jeopardizing security and without favoring users of one cryptocurrency over other. BCH does not need to be part of a single currency. It is a versatile asset that is universal and trustless.

Making BCH a legal tender is a simple process of legislation. All that is required is the approval of a single act in the parliaments of individual nations. The approval would then be followed by a small change to the legal tender laws of the nation. The change would make BCH, for example, the legal tender in St. Maarten, just as the US dollar is today.

This does not need the government to do anything or look for any special application for the people to use it. BCH is already being used as a medium of payment by hundreds of thousands of people in more than 100 countries. It only requires a wallet that is capable of holding BCH and a reliable way to access the internet. It requires no permission, no special legislation, and no government action besides the approval of a single act in each nation’s parliament. That is all that is needed to make BCH a legal tender in any nation. And that is what BCH is all about. Making BCH a legal tender is not an experiment but a mission fulfilled.

Bottom line

Once a nation makes BCH a legal tender, the cryptocurrency will be usable as a medium of payment by anyone in that nation, and by any other nation that does business with them, without any additional permission or requirements. It will be used without the requirement of a bank account or a credit card to access their money. It will allow them to pay their bills, shop online, and send money across the world with just a few taps on their smartphones. It will make BCH the digital cash that is accessible to everyone, everywhere, without any additional permission or requirements.

This means that governments of countries that do not have BCH as a legal tender will have an opportunity to do business with BCH. This is a wonderful opportunity for the people in those countries. With such a move, BCH will become a global currency, a currency for global business, and not for speculation.