The South African Reserve Bank Is Warming Up To Blockchain Technology
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The continent's two most prominent central banks-- the Central Bank of Nigeria (CBN) and the South African Reserve Bank (SARB), have decidedly different attitudes towards the notion of adopting virtual currencies.
While the CBN has recently warned the country's financial institutions and citizens that virtual currencies are not legal tender, the SARB has displayed a willingness to emulate Tunisia by launching a blockchain-based digital version of the South African Rand. With bitcoin showing signs of maturing into a legitimate asset class, central banks the world over are grappling with a very real fear of missing out on the cryptocurrency wave. The surf's up, it seems.
Also in this week's African Tech Round-up is a chat with Alison Treadaway, director and shareholder of the South African eBilling and eMarketing software and services company, Striata. Alison unpacks the noble aims of South Africa's imminent enaction of the Protection of Personal Information Act (POPI). She highlights some of the pain points that this ground-breaking piece of legislation is expected to address-- gaps that other African countries will no doubt seek to plug through passing personal data laws of their own.