Despite its recent anti-crypto measures, the CBN will reportedly launch a pilot scheme for ‘GIANT’ – a CBDC project in development since 2017, which runs on the open-source blockchain Hyperledger Fabric.
The bank might conduct a proof-of-concept before the end of 2021. CBN representatives emphasised that the institution could not afford to be left behind while most central banks worldwide make headway with their own CBDC research and development.
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