The Central Bank of Kenya (CBK) has started discussions regarding possible CBDC with other central banks, the CBK Governor Patrick Njoroge recently shared. Due to a variety of private coins already existing, the government feels “left out” already, thus needing to catch up on CBDC, he explained. As CBDC would require further research with risk concerns in mind, technology behind private cryptocurrencies, Bitcoin in particular, is “inspirational” for them while approaching the project.
As lots of African users already invest in cryptocurrency, we in Ternion assume it was only a matter of time when local governments pay attention to crypto and start developing their own CBDCs.