[kat82]

Some countries like China are testing government-made digital money for example the Electronic Chinese yuan. Do you think African governments will also launch their own coins soon?

[Fergal]

This is an interesting concept. You are from there kat82, what is your opinion on it? Have any African governments expressed an interest in doing this?

[kat82]

This is an interesting concept. You are from there kat82, what is your opinion on it? Have any African governments expressed an interest in doing this?

Ever since crypto spread, many people in Africa have been scammed. The likes of dagcoin, one coin and etc have made many go back to the village after loosing their money. In Uganda for example the government looks no support for this type of currency.

[mrki444]

There is no use of coin if nobody will use it. In china you can pay everything with smartphone so use of coin could fast accepted.

[kat82]

There is no use of coin if nobody will use it. In china you can pay everything with smartphone so use of coin could fast accepted.

I hear you well. No use of is unusable and good use of usable. Coins in Africa seem to have no value compared to other countries. For mobile payments we use mobile money.

[ptrikha21]

In India, Government launched Digital Rupee. Some banks launched it.
I have not tried it but it does have some adoption.
It is officially called as "CBDC" - Central Bank Digital Currency
Its adoption has certain challenges.

I think some of the African nations can come together and launch such a utility, with small pilot runs initially.
Of course, it needs strict regulations and discipline, which can be sometimes hard to be achieved in developing nations.

[eldavis]

I thought there was a time they said they wanted to do something like this, but can't really remember.

[kat82]

In India, Government launched Digital Rupee. Some banks launched it.
I have not tried it but it does have some adoption.
It is officially called as "CBDC" - Central Bank Digital Currency
Its adoption has certain challenges.

I think some of the African nations can come together and launch such a utility, with small pilot runs initially.
Of course, it needs strict regulations and discipline, which can be sometimes hard to be achieved in developing nations.

Wow, looks like many governments will have to use the digital currency in one way or another. May be it's just a matter of time.

[ptrikha21]

In India, Government launched Digital Rupee. Some banks launched it.
I have not tried it but it does have some adoption.
It is official........e of the African nations can come together and launch such a utility, with small pilot runs initially.
Of course, it needs strict regulations and discipline, which can be sometimes hard to be achieved in developing nations.

............

It won't be as easy as it sounds. In each country, the central financial regulatory body (like RBI in India, Fed in US) will need to analyze, investigate and run pilot programs.
For this, they would need a lot of brain and government support.
Let us see how things develop.

[kat82]

True. Coins need to be monitored and regulated by the government as that will avoid misuse and possible scams.

[Pousinha]

I thought there was a time they said they wanted to do something like this, but can't really remember.

It looks like a worldwide trend. Apart from China, also the EU and also my country's governments are eager to create their own digital coin. So why not an African government? I mainly think in the South African Republic, as it's a BRICS country, so it's part of an agreement whose southern American companion wants its digital coin.

[mrki444]

I think Russia had idea support Etherum ETH but they didn't. I guess crypto is not stable for goverments yet.

[kat82]

I think Russia had idea support Etherum ETH but they didn't. I guess crypto is not stable for goverments yet.

Russia I think withdrew this because of its war with UKRAINE. May be in the future when things are done it will be able to support.

[Padmavati753]

Indeed, the trend is gaining momentum globally; it wouldn't be surprising to see African governments explore their own digital currencies soon.