Lebanon’s Central Bank to Implement Blockchain technology

Riad Salameh, governor of Lebanese Central Bank  announced during his keynote speech at Al-Iktissad-Wal-Aamal Anti Cyber Crime Forum held today November 29^th in Beirut, that the Lebanese Central Bank as well as the majority of Central Banks will be implementing blockchain technology.

As he stated, “The Central Bank of Lebanon and the majority of the central banks across the world will implement the blockchain technology the Bitcoin infrastructure but not the cryptocurrency as such. We will be implementing this technology because it provides more security and decentralized access to information.”

He added that the Lebanese central Bank will be issuing a digital currency in the near future. He explained, “Our working group at the Central bank has carried out an extensive research into the implementation of a digital currency. The Central bank will be launching this digital currency pegged to the Lebanese Lira to be used internally in the country only.”