Published On: Sat, Feb 4th, 2017

South Africa Latest to Consider Creating National Digital Currency

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One more nation, South Africa, is making the first step of migration to a fully digital economy, speaking about offering their own national digital currency based on blockchain technology.
South Africa Looks to Digital Currency
There are many advantages to nation-states, both stated and unspoken, to head in the direction of a national digital currency. The chief executive of the South African Reserve Bank (SARB) said that this would include more inclusion and economic reach, faster settlements and lower costs.
“If we go the route of issuing a digital currency, the objective would be to take advantage of emerging technologies so that we reap the benefits,” said Tim Masela, head of the National Payments System at the SARB in a statement.

We foresee that these benefits could be realized, which would be good for the transacting public. But of course, the risks have to be borne in mind as well and that’s what we want to balance.

In Africa alone, digital currency use and national propagation seem to be a step ahead of the rest of the world’s governments. At the end of 2015, Tunisia announced that they had already successfully created a blockchain and …

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  1. RMB Investor RMB Investor says:

    RT @ABITCOINnews: South Africa Latest to Consider Creating National Digital Currency – https://t.co/Khws7n8hFI https://t.co/GzmEAZ3UEO

  2. South Africa Latest to Consider Creating National Digital Currency https://t.co/NctQh2vxzE #digitalhealth

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