Cape Town, January 28th, 2022 - Algorand is actively involved in the development of Central Bank Digital Currencies with central banks across the globe. The UCT-Algorand Fintech Innovation Hub actively supports this and developed an open source CBDC dashboard for the Algorand ecosystem. “Not only does this dashboard work with all ASAs representing CBDC,” explains Professor Co-Pierre Georg, the UCT-Algorand Fintech Innovation Hub Director, “but we are also working in this working package to create a macroeconomic model of a simulated economy that includes a CBDC. This model allows us to simulate realistic payment flows that the dashboard visualizes. This will help policy makers to better understand the design choices they have when designing a CBDC.”
“We are thrilled with the progress the Innovation Hub is making,” emphasizes Hugo Krawczyk, Principal Researcher at Algorand Foundation and Head of the Algorand Centres of Excellence (ACE) programme. Krawczyk underlines that visualizations provided by the dashboard can help communicate with policy makers and serve as a tool for sophisticated data analysis such as showing economic activity in different sectors or the emergence of illiquidity in a market.” The goal of the UCT-Algorand Fintech Innovation Hub is to include the dashboard in an Algorand CBDC Sandbox.
The Algorand Foundation is committed to building a truly global blockchain ecosystem and our Grant and Development Award funding mechanisms have supported other projects in Africa such as FlexFinTex, Trust Graphic Publications, Gaiachain and the African Blockchain Institute.
If you are interested in submitting a project for support from the Algorand Foundation Grant program, please apply here.
