Reserve Bank mulls the future of money in the digital age

Regulators around the world are testing the implications of blockchain technology and digital currencies on the traditional financial system — and recent efforts signal that the South African Reserve Bank (Sarb) will not be left behind.

Reserve Bank governor Lesetja Kganyago indicated as much on Wednesday, at the release of the findings of the second phase of Project Khokha. The project, which was initiated in 2018, investigates the impact of distributed ledger technology, most commonly used to trade and store cryptocurrencies, on centralised banking.

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Sarah Smit
Sarah Smit
Sarah Smit is a general news reporter at the Mail & Guardian. She covers topics relating to labour, corruption and the law.

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