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Tanzania planning to launch their own digital currency

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Just few weeks ago Nigeria launched its CBDC eNaira which became a great success. eNaira successful launched creates a FOMO in Africa and now Tanzania is the next African country to launch it’s CBDC.

Florens Luoga is Governor of the Bank of Tanzania. He issued a statement on Thursday at a finance conference in the capital, Dadoma.

“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”

Tanzania’s central bank banned cryptocurrencies in November 2019 but now current president insisted on becoming part of this change rather then resisting it. Tanzania’s $63 Billion economy relies on cash transactions. Introduction of CBDC will convince citizens of Tanzania to use their own digital currency.

 

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Mark Brennanhttps://thecryptobasic.com/
Mark is 27, holds a Master degree in Business Administration, and works as a content Creator at TheCryptoBasic mostly on Crypto Market Updates. Since 2014 he has been active in the crypto sector. Thanks to the Business College in which other than Business subjects, he was taught about the disruptive potential of Blockchain. His interests include Blockchain technology and Crypto Market innovations. He also founded a small startup in which he gives lectures on cryptocurrencies.

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