bank of uganda is allegedly beginning cbdc research effort

The ugandan central bank is reportedly attempting to issue the country’s version of the cbdc similar to the us dollar, a cbdc that both people and companies can use. bou is reportedly also working on reforming the country’s financial regulations. as a result, the bou accepted the cbdc due to the move.

during a recent interview, charles abuka, the bou’s executive director for operations, stated that they needed to clarify why they wanted to create the cbdc. he said it’s essential for the central bank to know how much money it will cost to create a digital currency. digital currency, according to abuka, may be subject to cyberattacks.

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