{"id":296,"date":"2022-10-19T12:18:09","date_gmt":"2022-10-19T12:18:09","guid":{"rendered":"http:\/\/live-script.xyz\/eswatini-central-bank-partners-with-german-firm-to-explore-cbdc\/"},"modified":"2022-10-19T12:18:09","modified_gmt":"2022-10-19T12:18:09","slug":"eswatini-central-bank-partners-with-german-firm-to-explore-cbdc","status":"publish","type":"post","link":"https:\/\/live-script.xyz\/eswatini-central-bank-partners-with-german-firm-to-explore-cbdc\/","title":{"rendered":"Eswatini Central Bank Partners With German Firm to Explore CBDC"},"content":{"rendered":"<p><strong>Eswatini recently became the latest African country to jump on the central bank digital currency (CBDC) bandwagon after its central bank selected Giesecke Devrient, a Germany-based technology firm, as its partner. An agreement signed by both parties aims to enable them to deepen their \u201cunderstanding of the practicalities of implementing a CBDC in Eswatini.\u201d<\/strong><\/p>\n<h2>Retail CBDC Presents Strongest Opportunity for Adoption<\/h2>\n<p>The Southern African nation of Eswatini (formerly Swaziland) recently became the latest African country to signal its intention to issue a digital currency, after it was revealed that the Central Bank of Eswatini (CBE) has appointed a Germany-based firm called Giesecke Devrient as its technology partner.<\/p>\n<p>According to a <a href=\"https:\/\/pr-com.de\/company_news\/eswatini-partners-with-gieseckedevrient-to-explore-central-bank-digital-currency\/\">statement<\/a> issued by the technology firm, an agreement to this effect was signed at the recent annual meeting of the International Monetary Fund (IMF) and the World Bank Group.<\/p>\n<p>The country\u2019s selection of the German firm comes some two years after the latter\u2019s completion of the so-called CBDC Diagnostic Study which found that \u201ca retail CBDC presented the strongest and direct opportunity for the adoption of a digital currency in Eswatini.\u201d The recently signed agreement is said to enable both parties to further deepen their \u201cunderstanding of the practicalities of implementing a CBDC in Eswatini.\u201d<\/p>\n\n<h2>Ensuring Eswatini Is Fully Equipped to Issue a CBDC<\/h2>\n<p>Commenting on the CBE\u2019s coming together with Giesecke Devrient, the bank\u2019s governor, Phil Mnisi, said:<\/p>\n<p>The Central Bank of Eswatini is delighted to have engaged G+D as a technical consultant to walk with us in our journey as we explore and formulate the foundational policy considerations and use cases of a localized CBDC. We are confident that G+D\u2019s technological expertise and their strong regional presence in our continent will allow us to realize all possible advantages of a Digital Lilangeni and ensure we\u2019re fully equipped to issue a CBDC in the future.<\/p>\n<p>For his part, Wolfram Seidemann, the CEO of the technology company, suggested that Eswatini was one of the countries on the African continent to \u201ctake the step towards a retail CBDC.\u201d Seidemann, whose firm has also <a href=\"https:\/\/news.bitcoin.com\/bank-of-ghana-selects-german-technology-firm-as-partner-for-cbdc-project\/\">partnered<\/a> with the Ghanaian central bank, said his company was honored to be a part of Eswatini\u2019s CBDC journey.<\/p>\n<p>Like its counterparts in some African countries, the CBE is keen on rolling out a CBDC because it wants to overcome problems associated with fiat currency systems. While several African countries that are keen on launching a CBDC are either studying or conducting trials, the Nigerian central bank is the only institution in Africa to have launched a digital currency.<\/p>\n<p><em>Register your email here to get a weekly update on African news sent to your inbox:<\/em>\n<\/p>\n<p><em><strong>What are your thoughts on this story? Let us know what you think in the comments section below. <\/strong><\/em><\/p>","protected":false},"excerpt":{"rendered":"<p>Eswatini recently became the latest African country to jump on the central bank digital currency (CBDC) bandwagon after its central bank selected Giesecke Devrient, a Germany-based technology firm, as its partner. An agreement signed by both parties aims to enable them to deepen their \u201cunderstanding of the practicalities of implementing a CBDC in Eswatini.\u201d Retail [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Eswatini Central Bank Partners With German Firm to Explore CBDC - Latest Cryptocurrency &amp; blockchain News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/live-script.xyz\/eswatini-central-bank-partners-with-german-firm-to-explore-cbdc\/\" \/>\n<meta property=\"og:locale\" content=\"ko_KR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Eswatini Central Bank Partners With German Firm to Explore CBDC - Latest Cryptocurrency &amp; blockchain News\" \/>\n<meta property=\"og:description\" content=\"Eswatini recently became the latest African country to jump on the central bank digital currency (CBDC) bandwagon after its central bank selected Giesecke Devrient, a Germany-based technology firm, as its partner. 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