Central banks ‘critical’ in the development of blockchain

cryptocurrency
The rise of blockchain throws up questions of whether central banks should issue their own digital currency. Photo: Zach Copley

A paper published by one of South Africa's largest commercial banks has stressed that the "greatest benefits" of blockchain technology will only be "reaped" if central banks embrace it and begin issuing their own crypto-currencies.

In The Advent of Crypto Banking, FirstRand Bank's blockchain team examine the question of central bank-issued currency, a topic that has "captured the world's attention" in 2016.

"Central banks have a critical role to play unlocking blockchain's tremendous potential

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