It's about doing it right instead of being the first - emerging markets
It's about doing it right instead of being the first - emerging markets
the governor of the Kenyan Central Bank (CBK), Patrick Njoroge, said his institute currently explores the use of digital central bank currencies (CBDC) for handling cross -border payments. However, Njoroge insists that the priority of the bank is to do it right instead of being the first.
The approach of CBK
according to a test report from the Kenyan Wallstreet, Njoroge-during a virtual Afro-Asia FinTech Festivals-argued that such a CBDC would improve the efficiency of cross-border payments. The report still quotes Njoroge, which repeats the approach of the CBK, which differs from that of other central banks. He said:
We see that the advantages would be more cross -border. It's not about being in the first place, but about doing it right.
These statements by the CBK governor come a few weeks after the central bank of Nigeria (CBN) was the first country in Africa. About three weeks after the start, the CBN that almost 500,000 wallets download of $ 150,000.
collaboration instead of alone
as Bitcoin.com News E-naira was still available before and after the start Challenges culminated with the short distance of the wallet app from the Google Play Store. In addition, some observers in Nigeria are still denied the decision of the CBN-the CBDC- can be equated with the physical Naira - and at the same time to proceed against cryptocurrency users.
Although the Kenyan Wall Street report Njoroge does not cite, which mentions the introduction of e-naira by the CBN, the same report indicates that the CBK governor prefers to work with other central banks instead of doing it alone.
Do you agree to Njoroges approach to do it right instead of being the first? Tell us your opinion in the comment area below.
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