Re-Exploring Blockchain and Crypto Currency penetration and monetary policy in East Africa-Are governments running late?

Globally, there is a debate and desire for the adoption of blockchain technology and cryptocurrency as medium for financial transactions yet in East Africa, government uptake and regulation are moving at a snail’s pace. The pressure to digitalize our
economies and adopt a new generation of monetary policies may be legitimate but the risks are also real. How can governments navigate this delicate balance between digital economy penetration, financial inclusion and monetary policy? Can governments in East Africa continue riding behind the tide?. In this first of a two-part series of our short analytical economic policy and governance policy briefings, we reexplore and unpack blockchain and crypto currency penetration and the risk considerations shaping debate and monetary policy terrain in East Africa. We will later discuss how the EAC governments can leverage monetary policy and regulation to harness the dividends of blockchain and cryptocurrencies to advance financial inclusion in the region.

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