Morocco Plans to Expand Access to Financial Services With Fintech
Ana Alexandre's original article for cointelegraph.com reduced by 72%
Morocco is looking to expand access to financial services through the integration of blockchain technology in the country's financial sector. Speaking at the Africa Blockchain Summit in Morocco's capital of Rabat, the country's central bank governor Abdellatif Jouahri said that Morocco will deploy financial technology to enhance access to financial services, Morocco World News reported on Nov. 21.
This fintech implementation will come as part of the country's financial inclusion strategy and especially targets underserved citizens. "Blockchain is by far the most disruptive technology of this decade." Specifically, the central bank intends to create lower-cost models to bring financial services to underserved citizens and develop favorable conditions for non-cash transactions and settlement. Morocco has been testing the waters of decentralized ledger technologies recently; this spring it collaborated with a range of international organizations to conduct the world's first supposed cross-border securities settlement between two central depositories using the Quartz blockchain.
Last September, news broke that Morocco was going to build a 36-megawatt crypto mining farm in partnership with American Bitcoin mining company Soluna.
Donate Bitcoin to this address
Scan the QR code or copy the address below into your wallet to send Bitcoin
Donate Ethereum to this address
Scan the QR code or copy the address below into your wallet to send Ethereum
Donate With MetaMask
Donate ETH With MetaMask
Alternatively, support us by using the following referral links:
CN [too long; didn’t read]
Summarised crypto news.