On the question of principles vs practicals... the principles sound great and all. I also appreciate that this takes advantage of the large number of mobile devices already out there, and encourages the development of rural internet.
But, I predict that the practicals are not going to be good. Bitcoin transaction fees are high. If anything, this is a gift to large criminal organizations with a large footprint in the country which will be far more able to make use of their BTC. The law enforcement arm of this will not be ready or able to deal with it.
There is a role for cryptocurrency in helping the underserved gain access to banking. This plan does not sound like the right one to me.
But, I predict that the practicals are not going to be good. Bitcoin transaction fees are high. If anything, this is a gift to large criminal organizations with a large footprint in the country which will be far more able to make use of their BTC. The law enforcement arm of this will not be ready or able to deal with it.
There is a role for cryptocurrency in helping the underserved gain access to banking. This plan does not sound like the right one to me.