Business Daily | by Bitange Ndemo
In the past week, many people have been asking what the central bank digital currency (CBDC) is all about and how it will be different from the current fiat currency.
Nonetheless, a discussion paper on CBDCs by the Central Bank of Kenya (CBK), which invites public comments, has set in motion the digitalisation of currency in Kenya.
In other words, Kenya is developing a digital form of its fiat currency, which has been synonymous with the CBK. Instead of printing cash, the CBK will be issuing electronic coins or accounts backed by the government’s full faith and credit…
