Rwandan Central Bank Studying Ways of Issuing Digital Currency

(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.”

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