Digital hacking of the currency can reap very large rewards, in all likelihood larger than counterfeiting banknotes – the recent attack on the central bank of Bangladesh comes to mind. 23 Undoubtedly hackers everywhere are dreaming about how to violate the digital currency system! The number of questions related to CBDCs is enormous and the public debate about them is only in its infancy.
It is, therefore, not surprising that Africa has turned into a geo-political centrepiece. Such is the continent’s potential that developed economies are literally racing against one another to tap the opportunities of this new Eldorado.