The tiny kingdom, formerly known as Swaziland, is looking at better domestic accessibility and cross-border trade with a proposed CBDC.
The Central Bank of the Kingdom of Eswatini, the landlocked country of 1.2 million people sandwiched between South Africa and Mozambique, has released a design paper describing its potential central bank digital currency (CBDC), the digital lilangeni.
The digital lilangeni would be a tokenized retail CBDC run on a distributed database, rather than a distributed ledger. Blogger and CBDC consultant John Kiff recently took note of the design paper.
The CBDC would have hosted online wallets managed by financial institutions and hard wallets, most likely in the form of a smart card, that could function in the absence of internet access, according to the design paper.
