Project Giant: Nigeria’s CBDC set for pilot rollout on Independence Day
Nigeria’s central bank digital currency will go into pilot testing on Oct. 1 with a tiered AML/KYC regime for the eNaira. After four years of development, the Central Bank of Nigeria (CBN) is set to roll out its digital currency project. The launch will reportedly happen on the occasion of the country’s 61st Independence Day celebration on Oct. 1.Nigeria’s central bank digital currency (CBDC) project comes amid significant anti-crypto policies from the CBN and negative cryptocurrency sentiments from several government officials. The digital naira is also coming at a time when its fiat....
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While a number of countries are working on central bank digital currencies (CBDCs), on Tuesday, the Bank of Jamaica (BoJ) announced it will soon be piloting a CBDC project. The BoJ is working with a firm called Ecurrency Mint Incorporated and plans to pilot the cryptocurrency in May. Jamaican CBDC to Pilot this May Jamaica, the island country situated in the Caribbean Sea has plans to pilot a CBDC this May as it has been working with an “extensive procurement process.” The country’s central bank, the BoJ, has chosen a technology provider to help with the CBDC solution.....
The Central Bank of Nigeria will start the pilot of its central bank digital currency, which runs on the Hyperledger Fabric blockchain, on October 1. For much of 2021, the Central Bank of Nigeria (CBN) has been in the headlines for its anti-cryptocurrency measures. Yet, the institution has this week redoubled its investment and research into crypto’s underlying technology, blockchain, and has set a clear date for the pilot scheme of its blockchain-powered central bank digital currency (CBDC).On October 1, CBN will reportedly launch a pilot scheme for “GIANT” – a CBDC project in development....