SA to get digital currency?


FILE: A pile of Bitcoins.

JOHANNESBURG - 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.

Tunisia is said to be the only nation to have successfully issued a digital currency.

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