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Author Topic: Saudi Central Bank Mulls Blockchain for Finance, Rejects Phasing Out Cash: Repor  (Read 695 times)

Offline Tanimariya

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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


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