The company has been awarded a new project for a central bank digital currency (CBDC) in an unnamed African country, Wolfram Seidemann, CEO of G+D currency technology, tells The Africa Report. The company is in discussions with central banks across all parts of the continent, he says.
The project awarded outside Ghana will be announced in about six months, Seidemann says. The agreement for the initial design phase has been signed, and he hopes this will lead on to pilot and rollout phases.
Central bank digital currencies are a digital form of a country’s money, with supply determined and regulated by the central bank. South Africa, Nigeria, Tunisia and Senegal are among African countries reported to be considering their use. The Bank of England has said that a digital currency can increase the GDP of a country by up to three percentage points by lowering the costs of transactions and
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