Lens1000
VIP Contributor
The CBDC project is a global project and central banks are joining the development. The greatest thing to do is tap into the wealth embedded in digital currency, which is growing in prominence by the day.
On this endeavor, the Zambian Central Bank is not left behind. The central bank is anticipated to carry out its findings and assess the CBDC project's potential. The bank, which has been examining the advantages and disadvantages of launching a digital currency, claims that the outcomes of this study will help it decide whether or not to launch the CBDC.
The Bank of Zambia, like some of its African counterparts, wants to establish a digital currency because it believes it will help to close the financial divide and lower transaction costs. However, the central bank stated that it needed to understand the study's conclusions before introducing the CBDC.
"The findings of the research will be used to inform policy decisions about whether or not to create a central bank digital currency in Zambia," said Nkatya Kabwe, the central bank's acting director of communications.
Citizens will be able to explore the rapidly evolving digital world as a result of the project. Improved transaction traceability is one of the CBDC's main advantages.
Furthermore, the Zambian government clarified that cryptocurrencies are not accepted as legal cash. It was emphasized that any Zambian who chooses to utilize cryptocurrencies should be aware of the risks involved.
On this endeavor, the Zambian Central Bank is not left behind. The central bank is anticipated to carry out its findings and assess the CBDC project's potential. The bank, which has been examining the advantages and disadvantages of launching a digital currency, claims that the outcomes of this study will help it decide whether or not to launch the CBDC.
The Bank of Zambia, like some of its African counterparts, wants to establish a digital currency because it believes it will help to close the financial divide and lower transaction costs. However, the central bank stated that it needed to understand the study's conclusions before introducing the CBDC.
"The findings of the research will be used to inform policy decisions about whether or not to create a central bank digital currency in Zambia," said Nkatya Kabwe, the central bank's acting director of communications.
Citizens will be able to explore the rapidly evolving digital world as a result of the project. Improved transaction traceability is one of the CBDC's main advantages.
Furthermore, the Zambian government clarified that cryptocurrencies are not accepted as legal cash. It was emphasized that any Zambian who chooses to utilize cryptocurrencies should be aware of the risks involved.
