#Uganda next to announce a #CBDC #CentralBankDigitalCurrency pilot.

What’s interesting is the reasoning given for this approach:

Uganda aims to become a regional hub for #tokenised #finance. This initiative aims to bring over $5 billion worth of real-world assets #RWA onto the #blockchain, with a focus on sectors such as #agriculture and #renewable #energy.

The CBDC is planned to be a digital version of the Ugandan shilling, backed by Ugandan government treasury bonds, and is designed to serve as a core payment and settlement layer within the country’s evolving tokenised asset ecosystem.

Both the CBDC and the broader push for tokenisation are based on a permissioned blockchain platform provided by the Global Settlement Network, which is not one of the top-tier blockchain layer 1s and has limited information publicly available.

It will be interesting to see if we hear more about this pilot.

See the press release

For an overview of CBDC projects, visit the great CBDC Tracker