CGTN Africa

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South Africa looking into efficiency of virtual payment systems

The South African Reserve Bank says it's open to introducing a national digital currency. The bank says the currency will be based on existing examples like BlockChain and Bitcoin, which use a digital public ledger platform for distribution. The head of National Payment Systems, Tim Masela, says this will help the country take advantage of emerging technologies. The central bank will carry out its own research about the technology's feasibility in South Africa. Amid global political and...

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Related topics : virtual & digital currency and payment systems

Nigeria's central bank cautions financial lenders against Bitcoin

Nigeria's central bank is rallying commercial lenders against virtual markets to fight money laundering and terror financing.

Virtual or digital currency is just emerging in Nigeria. But it's feared to be gaining traction on the back of Nigeria's troubled foreign exchange markets. CGTN's Kelechi Emekalam has more.

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Related topics : digital virtual currency and bitcoins