Are CBDCs the Future of Money? South African Expert Tackles Security & Scalability Challenges

Kumaran Selvarajalu, from the Banking Association of SA, discusses the challenges of implementing Central Bank Digital Currencies (CBDC) at a national level in South Africa, including scalability, security and adaptability. Despite this, he sees CBDCs as an important step towards the future of digital currencies and modernization.
Highlights
💲 CBDCs in South Africa face challenges of scaling, security and adaptability.
💰 The success of CBDCs depends on their ability to become a national standard.
🔒 Cybercrime is a potential risk for CBDCs.
💡 Digital transformation and innovation can create opportunities for a future cashless economy.
⚡ Despite challenges like power shortages, South African culture is resilient and hopeful.
Kumaran Selvarajalu's Linkedin: / kselvarajalu
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