Status : Research
Usecase : Undecided
The Central Bank of Egypt (CBE) has been researching the viability of integrating a digital currency into the country’s financial system. In 2018, Vice Governor Ayman Hussein announced a study in collaboration with international financial institutions to assess the potential of a digital currency. This initiative was prompted by the high percentage of unbanked individuals in Egypt, which stood at around 84% at the time. The CBE has continued its research and development efforts, focusing on the use cases and potential partnerships for the digital currency. Additionally, they are working on the development of an electronic customer identification system.
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