Kenya needs to grasp the cryptocurrency nettle: how a digitalcurrency could help
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Date
2021-12
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
The Conversation
Abstract
Kenya’s central bank has been
mulling
the official use of a digital currency. More than
60 central banks
have already entered the digital currency race since 2014.
No details have been released in Kenya, but the central bank governor, Patrick Njoroge,
commented that
the bank was working with other global regulators and financial institutions to explore the use ofdigital currencies.
The shift towards digital currencies has been used by some central banks to formulate and implementregulations to manage the use of cryptocurrencies. For example, Nigeria has launched its officialdigital currency, the
eNaira
.
The World Economic Forum estimates that a third of Nigerians
use or own
cryptocurrencies. Kenya isone of the
top three markets for Bitcoin
, one of the more popular cryptocurrencies.
Description
https://theconversation.com/kenya-needs-to-grasp-the-cryptocurrency-nettle-how-a-digital-currency-could-help-172092
Keywords
Cryptocurrency nettle, Digital currency, Central Bank of Kenya
Citation
Muthoka-Kagwaini, D. (2021). The Conversation: Kenya needs to grasp the cryptocurrency nettle: how a digitalcurrency could help. The Conversation: https://theconversation.com/kenya-needs-to-grasp-the-cryptocurrency-nettle-how-a-digital-currency-could-help-172092