Connect with us

Hi, what are you looking for?

Oracle of  Omaha SaysOracle of  Omaha Says

Editor's Pick

G+D to Assist Central Bank of Mauritania in CBDC Design

German security technology group Giesecke+Devrient (G+D) is partnering with the Central Bank of Mauritania to explore the design and development of a central bank digital currency (CBDC) dubbed ‘digital Ouguiya.’

The partners signed a deal during the World Bank Group’s Spring Meetings held this month in Washington. Wolfram Seidemann, CEO of G+D Currency Technology, and Mohamed Lemine Ould Dhehby, governor of the Banque Centrale de Mauritanie inked a deal to work together in investigating the creation of a CBDC.

The collaboration focuses mainly on the potential advantages of a digital Mauritanian Ouguiya for the nation’s economy and society.

The governor noted that the central bank is “strategically positioned” for the potential launch of its digital currency.

“Through the exploratory work we have now agreed, we are expanding our knowledge base, skills and experience. G+D’s expertise in this innovative, rapidly developing field will help us to bring it to life for the benefit of the whole country.”

G+D’s Role in CBDC Development


Per the company’s release on Tuesday, G+D will offer technical solution for initial testing of CBDC use cases. Additionally, it would help the central bank in defining the requirements for a digital Ouguiya.

“The digital Ouguiya is part of the digital transformation agenda for the entire country,” Seidemann said in the statement. “It is of critical importance for economic and social progress.”

G+D has conducted research into CBDC adoption for several jurisdictions including Brazil, Ghana and Eswatini. For instance, G+D’s CBDC pilot with the Bank of Ghana proved a successful integration of financial intermediaries. It facilitated seamless interoperability and enhanced user experience capabilities.

According to Seidemann, G+D provides expertise on public currency technology, cryptology, smart cards, and digital and mobile payments to central banks conducting research on and implementing CBDCs. One of the solutions – G+D Filia – supports central banks in operating CBDCs nationally.

As far Mauritania is concerned, the evaluation of a CBDC is important for consolidating macroeconomic stability and improving the sustainability of Mauritania’s economic growth.

The post G+D to Assist Central Bank of Mauritania in CBDC Design appeared first on Cryptonews.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.






    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.
    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Latest News

    A former Republican legislative candidate who traveled to Washington for former President Donald Trump’s ‘Stop the Steal’ rally was arrested Friday and charged with...

    Latest News

    Abbe Lowell, Hunter Biden’s attorney, filed an ethics complaint Friday against Georgia Rep. Marjorie Taylor Green after she displayed censured nude photos of the president’s...

    Stock

    Even as U.S. inflation broadly cools, frozen vegetable prices are hot. The average shelf price for frozen veggies rose by 18% in the past year...

    Latest News

    President Biden has overruled the Pentagon and chosen Adm. Lisa Franchetti to lead the Navy, making her the first woman, if she’s confirmed, to...

    Disclaimer: Oracleofomahasays.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 Oracleofomahasays.com