More and more African countries are considering issuing their own central bank digital currency (CBDC), TechCrunch has reported.
Thus, last summer, the Central Bank of Ghana started analyzing the implications of introducing a regulated digital currency. Now the time has come for Kenya, which is considering launching its own cryptocurrency.
The African state's central bank has published a discussion paper designed to gather expert opinions on a possible CBDC.
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The regulator sees the token as an excellent tool for international transactions. With its help, the authorities could reduce transaction costs, as the number of transactions carried out through the banking sector will be reduced.
However, according to the press service of the Bank of Kenya, there are also risks. At this stage it is not easy to assess the consequences of introducing a national cryptocurrency.