After several months of investigating cryptocurrencies and blockchain, Tanzania’s central bank (BoT) is now planning to launch its central bank digital currency (CBDC) as it is anxious not to be left behind amid the global rise and the increasing adoption of cryptocurrencies.
The revelation was made by Central Bank of Tanzania Governor, Prof Florens Luoga, while speaking at a 2-day Conference of Financial Institutions in Tanzania held on 25-26th November, 2021.
The conference was also attended by the Tanzania’s President, her excellency Samia Suluhu.
Speaking about the Tanzanian CBDC, the Governor said:
“To ensure that our country is not left behind the adoption of central bank digital currencies, the Bank of Tanzania has already begun preparations to have its own CBDC.”
– Governor, Bank of Tanzania (BoT)