Senegal To Introduce A New Blockchain-Based National Digital Currency, The Second Such Currency In The World

Senegal has recently become only the second country in the world to introduce a digital currency based on blockchain technology. Named eCFA, the digital currency will be legal tender just as the current currency, CFA Franc, is. Senegal’s eCFA comes from a partnership by Banque Régionale de Marchés (BRM) [Read More]

Summary… * Machine-Made


Senegal has recently become only the second country in the world to introduce a digital currency based on blockchain technology.
Named eCFA, the digital currency will be legal tender just as the current currency, CFA Franc, is.
Interestingly, the only other country in the world with a national digital currency is also African – Tunisia.
This push towards mainstreaming digital currency, along with other experiments using blockchain, further show that Africa is a fertile ground for the testing and deploying new FinTech solutions.
The eCFA would be issued solely by the central bank, but confer the benefits of transparency and cryptography to prevent counterfeiting and fake transactions.

Opinion… * Man-Made


Senegal is the 2nd country (after Tunisia) to introduce a #Blockchain based national digital currency! #Trend

Source: Iafrikan