The island of Fiji, one of several Pacific island countries, elected Sitiveni Rabuka as its 12th prime minister earlier this month. Rabuka, who is 74 years old, is marked by two curiosities. The first is his nickname, “Rambo”; second, he is a big supporter of Bitcoin. Lord Fusitu’a, former member of the Parliament of Tonga, a nation neighboring Fiji, confirmed the information and congratulated Rabuka for the win. In addition, the former parliamentarian defended a bold idea: Fiji and Tonga adopt BTC as legal currency in 2023. If that happens, it would increase to two the number of countries that have BTC as a currency. Fusitu’a has already expressed this desire in the past, and now has a strong ally in the region.
Bitcoin Union in Oceania? Source: Twitter.
‘Let’s go 2 for 2’
With Rabuka’s victory, the People’s Alliance Party (PAP) became the new dominant political group in the Republic of Fiji. The politician, who was once in charge of the island nation, succeeds former prime minister Frank Bainimarama. Last year, Fusitu’a revealed he and Rabuka had a meeting about renewable bitcoin mining and how it could benefit Fiji. Like El Salvador, Tonga and Fiji have geothermal energy sources through the volcanoes that exist on the islands. Fiji still has a large hydrographic capacity relative to its size, with rivers that can generate hydroelectric power. Hence, Fusitu’a also urged the new government of Fiji to delve deeper into the crypto world and adopt BTC as an official means of payment. The noble also stated that Tonga should follow suit next year. Assuming Fiji and Tonga actually do this, they would become the third and fourth countries worldwide where BTC is legal tender. In this way, they would join a select group that today includes El Salvador and the Central African Republic. The Pacific Islands are part of the Ring of Fire, an area that has intense volcanic activity. That is, Fiji and Tonga could employ the energy of their active volcanoes in BTC mining. On the other hand, the introduction of BTC could increase financial inclusion in Fiji and improve the issue of remittances. About 11% of Fiji’s GDP comes from remittances from Fijians living abroad – in Tonga, the percentage is even higher: 45%.
tonga plans
Tonga has demonstrated its intentions to introduce BTC as legal tender in early 2022. Fusitu’a reportedly teamed up with Strike CEO Jack Mallers to launch the project in Tonga. The former deputy said that the nation could become more “competitive and rich” if it adopted the digital asset. “An economy that uses Bitcoin for payment at every step of the supply chain. Pay for cassava roots and livestock in Bitcoin from the farm supplier to the waitress serving you at Kardo’s meat bar and every step in between in BTC,” he added. Fusitu’a suggested that the bill declaring bitcoin legal tender in Tonga should have reached Parliament in September/October. However, the governing body has yet to give the green light to this legislation. In the case of Fiji, the country has never revealed any intentions to adopt BTC as a currency. But perhaps the management of the Fijian “Rambo” will take some action in this direction.
