South Africa CBDC
Dubbed: Project Dunbar
The South African Reserve Bank has announced the launch of its own CBDC. Which aims to design platforms to facilitate payments and enable financial institutions to leverage the use of Distributed Ledger Technology (DLT).
https://www.bis.org/about/bisih/topics/cbdc/dunbar.htm
Being from South Africa, I can only imagine this ending badly due to the copious amount of corruption that exists within SA. Making a CBDC sound like a disaster waiting to happen.
However, I do hope this develops into a learning experience to onboard new users with the idea of a crypto, eventually leading them away from the CBDC to a more decentralised solution such as BTC
Only time will tell
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