

The past week and a half for Crypto in general has been super positive with little FUD. The fact that we keep hearing other countries adapting to Crypto is great for the world. Let's keep the positive news rolling! Even Ripple made a deal with a Saudi bank. Cheers!

I'll clip some things out for you all via the article I found:



The South African Reserve Bank (SARB), the country’s central bank, has announced a new FinTech initiative that will include ‘Project Khokha’ – a blockchain PoC endeavor via a partnership with Ethereum coder collective ConsenSys, an official announcement revealed. As the central bank’s technology partner, the Brooklyn-based Ethereum blockchain developer will enable the ‘processing of wholesale payments using Quorum’, an Ethereum enterprise blockchain developed by JPMorgan and EthLab, an Ethereum developer startup.

An excerpt from the announcement read:

“The aim of this project is to gain a practical understanding of distributed ledger technologies (DLTs) through the development of a proof of concept (PoC) in collaboration with the banking industry. The objective of the PoC is to replicate interbank clearing and settlement on a DLT which will allow the SARB and industry to jointly assess the potential benefits and risks of DLTs.”

The development to explore blockchain technology comes despite statements to the contrary by the central bank’s deputy governor who claimed the issuance of a blockchain-enabled central bank cryptocurrency would be “too risky”, in August 2017.

Credit: CCN

