It is clear that CBK cannot risk running the CBDC as a monopoly, and even if it does, for a start, it will require the input of the retailers or PSPs in the financial sector. In that regard, it already gives a pictorial composition of what type of CBDC architecture CBK will need to adopt. Drawing inspiration from CMA, CBK should consider providing room for Sandbox Regulations on onboarding processes as most PSPs and retailer financial institutions would prefer getting more innovative with the introduction of the CBDC.
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Comments on Central Bank Digital Currency (CBDC) by Ong’anya Ombo Advocates
