Altcoins Talks - Cryptocurrency Forum
Further Discussions => Banks & Cryptos => Topic started by: Tanimariya on October 26, 2021, 06:29:36 AM
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Saudi Arabia was one of the first countries to experiment with a CBDC. Saudi Arabia’s central bank is experimenting with emerging technologies like blockchain for the finance sector, but doesn’t intend to phase out cash in favor of digital payments, according to an interview with local newspaper Al Eqtisadiah.
Central bank digital currencies (CBDCs) are one of the most important financial technologies under development, but the kingdom does not intend to phase out the use of physical cash, according to a central bank representative quoted in the report. Source Link
(https://www.coindesk.com/markets/2021/10/25/saudi-central-bank-mulls-blockchain-for-finance-rejects-phasing-out-cash-report/)