In order to continue activities on the implementation of the pilot project of national stability, i.e. stable currency (CBDC) in Montenegro, representatives of the American company Ripple are staying in Montenegro on July 25th and 26th this year.
As part of the mentioned visit, Ripple experts held two educational workshops on Asset tokenization and Web3 finance (programmability), which were attended by representatives of financial service providers, state institutions, the private IT sector and the academic community. The holding of these workshops rounded off a series of educational events organized by CBCG and Ripple, through which participants had the opportunity to learn about blockchain technology and its possibilities.
In addition to the mentioned workshops, several working meetings with representatives of various interested groups were held as part of the visit, where ideas were exchanged and lists of possible candidates, or “use cases” for testing a stable currency in Montenegro, were defined.
“The main goal of the pilot project is for the Montenegrin administration, as well as the general public, to expand their knowledge and gain practical experience in the application of this type of digital currency, as well as to learn more about its possibilities, but also about the risks it carries with it, especially in the segment of its impact on the existing regulation, cyber security and/or protection of the rights and privacy of end users”, according to the announcement of the Central Bank of Montenegro.
By participating in such activities, Montenegro joins a large group of central banks around the world (93%) which, according to the recent BIS report for the year 2022, are already engaged in some form in the field of CBDC research, and more than half of them perform specific experiments or work on pilot programs.
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