In February 2022, the Central Bank of Kenya (CBK) released a discussion paper on central bank digital currencies (CBDC). Through the paper, the CBK is basically soliciting public comments on the applicability of a potential CBDC in Kenya. But where is the CBK coming from? There has been a growing discontent with the current fiat system, especially among the youth.
Essentially, you have a world of young people who want their own financial system and their own culture. In the fiat system, governments issue money, by way of printing, that is backed by absolutely nothing (except for the faith that populations have in their governments).
