The Tanzanian central bank chooses a gradual and risk -based approach to the introduction of CBDC - Africa

After months of research, the Tanzanian central bank recently announced that it chose a more careful and risky approach when introducing its digital central bank currency (CBDC). During the research phase, the Central Bank said that it "paid special attention to the risks and controls related to the issue, sales, falsification and use of currencies".

Find the right CBDC technology

The Bank of Tanzania (Bot) announced on January 14 that "she accepted a step -by -step, careful and risk -based approach for the introduction of CBDC [Central Bank Digital Currency]." The bank also said that it would continue its efforts to find "a suitable and adequate use and technology for the edition of Tanzania-Schilling in digital form".

according to A on the bank's website said that it had chosen a more cautious approach after it had spent months and Disadvantages of the output of the digital currency to research and explore. During this time, the bot found that other central banks had taken the same attitude, while six countries had decided to cancel their CBDC introduction "mainly due to structural and technological challenges in the implementation phase".

as reported from Bitcoin.com News said the Tanzanian central bank, she is planning to introduce her CBDC has become among the central banks. In addition, the bank said that the digital currency was "a safe". [R] Alternative because many people are affected by cryptocurrency speculators. "

The fears that the CBDC could disrupt the country's financial system forced the bot that signaled its willingness to start in the first half of 2022, finally to a more conservative approach.

risks associated with CBDCs

"Special attention is also given to the risks and controls related to the edition, distribution, fake and use of currencies," said the central bank.

In the explanation, the Bot said that the Tanzanian public will receive information about the further procedure after completion of research, and this will probably contain a timetable for the "transition to the introduction of CBDC".

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Terence Zimwara

Terence Zimwara is an award -winning journalist, author and writer from Zimbabwe. He wrote in detail about the economic problems of some African countries and how digital currencies Africans can offer an escape route.

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