Report: Rwandan Central Bank Looks to Issue Official Digital Currency
Max Boddy's original article for cointelegraph.com reduced by 57%
Rwanda's central bank, the National Bank of Rwanda, is researching how to offer an official digital currency. The central bank is interested in offering digital currency as a means to increase transaction efficiency and foster economic growth, per the report. "There are still concerns about how exactly you convert the entire currency into digital form, how to distribute that and how fast can you process those transactions Challenges come in, if technology is down how do you deal with such issues? We will join in once we are ready." Learning from central banks around the worldUwase reportedly said that the central bank will also study other central banks' attempts to create a national, digital currency, including those in Canada, Singapore and the Netherlands.
As reported by Cointelegraph, the International Monetary Fund wrote in June that Uruguay has begun a pilot program for a central bank digital currency, and the following countries were "On the verge" of launching their own tests: the Bahamas, China, Eastern Caribbean Currency Union, Sweden and Ukraine. China hastens to launch a digital currencyAs of this week, the People's Bank of China is reportedly getting close to launching a digital currency, following approximately five years of research and development. The unveiling of Facebook's proposed stablecoin, Libra may have spurred the Chinese central bank on.
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.