In brief

10 February 2017

Money Transfer

The South African Reserve Bank will consider introducing a "blockchain based, digital version" of the South African Rand. This comes a few months after Senegal became the second country in the world after Tunisia to introduce a national digital currency based on its fiat currency, but running on blockchain technology. In 2016 the South African Reserve Bank became the first central bank in Africa to successfully circulate a smart contract on an Ethereum blockchain-based private network.