Bitcoin Cash play an essential role in the decentralized economy as open a way to stop man's dependence on third-party intermediation at the time to make financial transactions.

Bitcoin was created more than 12 years ago, it has always been a game-changer because it diminishes the influence of financial institutions on the global economy, thus is made directly from people to people, based on cryptography.

Bitcoin Cash was designed to basically diminish the power of the traditional financial ecosystem by giving power back to the people.

The existence of Bitcoin Cash is a milestone in the history of decentralized digital money and was designed to be used in payments for goods and services on a daily and consistent basis, unlike other crypto assets, it is not just for speculation but has its own use in widespread commerce as long as it has merchants whom accept it and users who use it effectively.

However, despite these elements that constitute Bitcoin Cash a strong "appetizer" for an effective and comprehensive adoption, many people still do not welcome the currency much less countries.

But that has days counted!

Bitcoin Cash will be a LEGAL TENDER in March 2023 on St Kitts and Nevis after announcement by the Prime minister Terrance Drew on the Bitcoin Cash Conference 2022 held on the Islands as the currency is growing adoption on the territory.

Here, we will analyze some aspects PROS AND CONS in St Kitts and Nevis accepting Bitcoin Cash as a means of payment on the islands.

• PROS to accept Bitcoin Cash as legal Tender

1. BITCOIN CASH is censorship-resistant, permission less

The ability of Bitcoin Cash not to be controlled by someone is the cryptocurrency's strong point and highlights the great importance that decentralization represents for the peer-to-peer payment system.

With the peer-to-peer model of payments it allows no one other than those involved in the transaction to be needed, that is, the use of Bitcoin Cash does not need intermediaries for the transaction to take place.

On the contrary, for example, the bank payment system control the transaction and at any time can define its course, denying or even prohibiting those involved in the transaction from using the service they provide. Not only that, they can also block or restrict usage of these means.

In the transaction using Bitcoin Cash, those involved in it only execute it from one wallet to another and monitor it being confirmed on the network without having to depend on any financial entity, making it practically impossible to reverse or even suffer censorship .

1. BITCOIN CASH is fast, cheap and borderless

It is very simple to use Bitcoin Cash to make payments, whether domestic or international, they do not need time-consuming and bureaucratic processes to be carried out and there are no borders.

Being a peer-to-peer payment and made on Blockchain, they are instant and ready to use as well as serving for remittances .

1. BITCOIN CASH is for remittances

I have already mentioned the ability of Bitcoin Cash to be an asset that can be used internationally without problems, in a decentralized way and also circumvent certain restrictions that may arise in the traditional financial environment. As it is viable for international payments it can be used for remittances.

And being legal tender can also be a flexible asset for people to move money from country to country without worrying about restrictions that can come from its use allowing many more people to participate in the decentralized global economy that Bitcoin Cash provides.

1. BITCOIN CASH has an Anti-inflationary system

Every four years Bitcoin Cash undergoes a halving that helps ensure that the supply remains anti-inflationary and adds what is necessary to the blockchain block in a coherent and gradual way until totality supply is reached, thus taking several years until it is completed.

It has a fixed supply capped at 21 million and that annually helps the value of the asset to be on a growing trajectory, unlike the traditional system that at any time can decide to print more money inflating the market and reducing the purchasing power.

• The Cons to accept Bitcoin Cash as Legal Tender 

1. Volatility

One of the biggest problems that can cause headaches when introducing Bitcoin Cash as a LEGAL TENDER is understanding volatility. It is necessary for the people to understand this phenomenon that runs with cryptocurrencies because only then can it succeed.

It is necessary that people understand the risk of the currency incurring with the volatility process as this Achilles heel can stop the simple legalization process because people are used to stability. It will be crucial that the price of Bitcoin Cash remains high for people and parliamentarians to accept the currency as a LEGAL TENDER because then the purchasing power will be greater encouraging its use among merchants, vendors and the general public.

1. Crypto Regulatory uncertainties

Introducing Bitcoin Cash as a Legal tender also has constraints on the implementation of laws, being necessary to review old monetary laws and also create new ones.

The new laws and regulations will help businesses, industries as well as ordinary citizens deal with Bitcoin Cash and accept it in general commerce. It will also be necessary to explain how they should use Bitcoin Cash to pay taxes and price products and services according to the Bitcoin Cash price.

Therefore, there must be a proper regulation to legislate the use of Bitcoin Cash that it is accepted and followed for the implementation to be an absolute success.

SUMMING UP

The next three to four months will be a lot of work to implement Bitcoin Cash in St Kitts and Nevis.

The Bitcoin Cash Conference was a success in every way bringing together enthusiasts from more than 30 countries among Software Developers, Investors, builders and general spectators who debated the present as well as the future of Bitcoin Cash as decentralized digital electronic money made by the people for the people.

The crucial moment was the announcement by the Prime Minister of the possibility of accepting Bitcoin Cash as a legal tender in St Kitts and Nevis but also other moments, such as the Zapit_io wallet which will introduce a system that will facilitate the Indian people to use Bitcoin Cash to make payments for goods and services settled in INR to avoid volatility.

The future is great for Bitcoin Cash and it WORKS.

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