(Bloomberg) -- The Rwandan central bank is looking into ways it could potentially issue its own digital currency to make the processing of transactions more efficient and to boost economic growth.
The National Bank of Rwanda plans to learn from the experiences of central banks such as Canada, Singapore and the Netherlands, which have tested the use of blockchain technology, Financial Stability Director-General Peace Masozera Uwase said in an interview in the capital, Kigali.
|
“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,” Uwase said. “Challenges come in, if technology is down how do you deal with such issues? “We will join in once we are ready.”
--With assistance from Vernon Wessels.
To contact the reporter on this story: Saul Butera in Kigali at sbutera2@bloomberg.net
To contact the editors responsible for this story: David Malingha at dmalingha@bloomberg.net, Helen Nyambura, Hilton Shone
©2019 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
