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Rwanda Explores Launching Digital Currency by truthproductions

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· @truthproductions ·
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Rwanda Explores Launching Digital Currency
Rwandaโ€™s central bank, the National Bank of Rwanda, is researching how to offer an official digital currency.
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![image.png](https://ipfs.busy.org/ipfs/QmVUhJZGMUcdpBpcGSLR3pWwtFAaTns2ffovUa9XHMZNi7)

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BNN Bloomberg reported the news on Aug. 22. The central bank is interested in offering digital currency as a means to increase transaction efficiency and foster economic growth, per the report. However, authorities have vocalized that work remains to be done before implementation is on the table:

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> 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 [...] Challenges come in, if technology is down how do you deal with such issues? We will join in once we are ready. ~ Financial Stability Director-General Peace Masozera Uwase 

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Uwase reportedly said that the central bank will also study other central banksโ€™ attempts to create a national, digital currency, including those in Canada, Singapore and the Netherlands. 

[Source](https://cointelegraph.com/news/report-rwandan-central-bank-looks-to-issue-official-digital-currency)

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