Thanks to the holding in Ouagadougou of a relocated session of the ECOWAS Parliament devoted to current events on cryptomonaies, Emmanuel Yaméogo, a lawyer by training, expert in environmental law and policy, lent himself to the microphone of the AllAfrica news site. On occasion, he argued that cryptocurrency could liberate French-speaking countries from France.

Cryptocurrency is therefore very different from conventional currencies, i.e. fiat currencies issued by central banks. Emmanuel Yaméogo thinks virtual currencies could liberate France at a time when the future of the CFA franc is in focus. In West Africa, since the creation in 2009 of the first crypto-currency, in this case bitcoin, to the present day, there is a very growing adhesion of the West African population to this currency. “I started in cryptocurrency in 2017. We started with the UNICOM community and it was also during this year that cryptocurrency came to our community. Otherwise we had been around since 2011. The reality is that we understood that there was a global problem related to transactions and that bitcoin was not helping things; so we decided to consider a solution to facilitate transactions at the community level. This is how the Rainbow Currency, currently called the "Rainbow Currency", was created. Its trade name is YEM. It should be added that our currency was created according to the races that make up the community, ”recalls Emmanuel Yaméogo.

There are two main categories of crypto-currencies: stable crypto-currencies and non-stable, so-called volatile ones. At present, there are more than 7000 crypto-currencies. Bitcoin, for example, is a decentralized currency; that is, it is not created by a central bank and therefore cannot be controlled by it. The only controllers are the holders. As a result, everyone is free to use it without justification or any report to be made. Alongside this currency, many others, especially stablecoins, exist. The YEM is one of them. Its stability is due to the fact that it is managed by a foundation which behaves like a central bank, like a regulatory authority. Today, transactions are the subject of many questions since it is necessary to manage to secure the operations of both the sender and the recipient.