{"id":16786,"date":"2022-11-22T20:35:11","date_gmt":"2022-11-22T20:35:11","guid":{"rendered":"https:\/\/www.africa-press.net\/eswatini\/all-news\/cbe-commences-stakeholder-consultations-on-cbdc"},"modified":"2022-11-22T21:10:37","modified_gmt":"2022-11-22T21:10:37","slug":"cbe-commences-stakeholder-consultations-on-cbdc","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/eswatini\/all-news\/cbe-commences-stakeholder-consultations-on-cbdc","title":{"rendered":"CBE COMMENCES STAKEHOLDER CONSULTATIONS ON CBDC"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Eswatini. <\/strong><\/span><b>The Central Bank of Eswatini (CBE) has commenced stakeholder consultations on the introduction of CBE Digital Currency (CBDC).<\/b><\/p>\n<p>The Central Bank Digital Currency (CBDC) is anticipated to exist exclusively in digital or algorithmic format. And will be underpinned by technologies that allow for seamless transactions across one integrated payment system by using a single standardised payment instrument.<\/p>\n<p>Earlier on it was disclosed that CBE partnered with international technology group Giesecke+Devrient (G+D) to research and explore the development of a Central Bank Digital Currency (CBDC) \u2013 an electronic form of money for Eswatini. G+D\u2019s appointment it was reported, stems from the completion of the first phase of the CBDC diagnostic study conducted in 2020 which found that a retail CBDC presented the strongest and direct opportunity for the adoption of a digital currency in Eswatini.<\/p>\n<p>Piloting<\/p>\n<p>CBE has since reported that the move towards CBDC was gaining momentum. According to CBE, 92 per cent of central banks globally are researching, piloting or rolling out CBDCs to production and Eswatini is at the research stage.<\/p>\n<p>\u201cBuilding on the findings of the CBDC diagnostic study conducted in 2020, the Central Bank held a stakeholder consultation session for both private and public sectors at Happy Valley Hotel, with some participants joining virtually. The consultations started at Royal Villas with the CBE board and CBDC steering committee,\u201d the bank reported.<\/p>\n<p>It was disclosed that the purpose of the stakeholder consultations was to develop a body of knowledge through addressing various aspects of CBDC issuance including design principles that should be considered for the development of a digital Lilangeni. In addition, defining the potential use cases specific to Eswatini, distribution model, technical design considerations as well as legal considerations for issuing a retail CBDC in Eswatini.<\/p>\n<p>CBE Governor, Dr. Phil Mnisi, explained that while cash remained a dominant means of payment, technology and the increasing demand for instant and fast payments were changing the way businesses and consumers transact, adding that the bank partnered with international technology group Giesecke+ Devrient (G+D) to conduct research and explore the possibility of developing a CBDC for Eswatini.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/eswatini\">Eswatini<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Eswatini. The Central Bank of Eswatini (CBE) has commenced stakeholder consultations on the introduction of CBE Digital Currency (CBDC). The Central Bank Digital Currency (CBDC) is anticipated to exist exclusively in digital or algorithmic format. And will be underpinned by technologies that allow for seamless transactions across one integrated payment system by using [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":16785,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,242],"tags":[234,248,249],"class_list":["post-16786","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-to-homepage","tag-africa-press","tag-africa-press-eswatini","tag-eswatini"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>CBE COMMENCES STAKEHOLDER CONSULTATIONS ON CBDC - Eswatini<\/title>\n<meta name=\"description\" content=\"The Central Bank of Eswatini (CBE) has commenced stakeholder consultations on the introduction of CBE Digital Currenc ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/eswatini\/all-news\/cbe-commences-stakeholder-consultations-on-cbdc\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBE COMMENCES STAKEHOLDER CONSULTATIONS ON CBDC\" \/>\n<meta property=\"og:description\" content=\"The Central Bank of Eswatini (CBE) has commenced stakeholder consultations on the introduction of CBE Digital Currenc ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/eswatini\/all-news\/cbe-commences-stakeholder-consultations-on-cbdc\" \/>\n<meta property=\"og:site_name\" content=\"Eswatini\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-11-22T20:35:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-11-22T21:10:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/eswatini\/sites\/33\/2022\/11\/postQueueImg_1669178431.83.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"409\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/cbe-commences-stakeholder-consultations-on-cbdc#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/cbe-commences-stakeholder-consultations-on-cbdc\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"CBE COMMENCES STAKEHOLDER CONSULTATIONS ON CBDC\",\"datePublished\":\"2022-11-22T20:35:11+00:00\",\"dateModified\":\"2022-11-22T21:10:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/cbe-commences-stakeholder-consultations-on-cbdc\"},\"wordCount\":367,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/cbe-commences-stakeholder-consultations-on-cbdc#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/eswatini\/sites\/33\/2022\/11\/postQueueImg_1669178431.83.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Eswatini\",\"Eswatini\"],\"articleSection\":[\"all news\",\"economy\",\"to-homepage\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/eswatini\/all-news\/cbe-commences-stakeholder-consultations-on-cbdc#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/cbe-commences-stakeholder-consultations-on-cbdc\",\"url\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/cbe-commences-stakeholder-consultations-on-cbdc\",\"name\":\"CBE COMMENCES STAKEHOLDER CONSULTATIONS ON CBDC - 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