{"id":31556,"date":"2020-11-10T19:49:27","date_gmt":"2020-11-10T17:49:27","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=31556"},"modified":"2025-08-28T04:17:45","modified_gmt":"2025-08-28T01:17:45","slug":"lebanon-plans-to-launch-a-digital-currency-in-2021","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/lebanon-plans-to-launch-a-digital-currency-in-2021\/","title":{"rendered":"Lebanon plans to launch a digital currency in 2021"},"content":{"rendered":"<p>The Central Bank of Lebanon plans to launch a digital currency (CBDC) next year to bolster trust in the banking sector and move toward a cashless payments system. According to <a href=\\\"https:\/\/www.bloomberg.com\/news\/articles\/2020-11-10\/lebanon-plans-to-introduce-digital-currency-in-2021-salameh?sref=naTJVz8t\\\" target=\\\"_blank\\\" rel=\\\"noopener noreferrer\\\">Bloomberg<\/a>, this was announced by central bank governor Riad Salameh.<\/p>\n<p>\\n<\/p>\n<p>He also urged the country&#8217;s banks to begin restructuring, including a 20% increase in capitalization. As a liquid reserve asset, the governor named gold.<\/p>\n<p>\\n<\/p>\n<p>A year ago, amid mass protests against corruption in the country, local banks halted operations. The author of the economic bestseller \u201cThe Black Swan,\u201d the American-born Lebanese Nassim Taleb, said at the time that this was the strongest argument in favour of cryptocurrencies.<\/p>\n<p>\\n<\/p>\n<p>Later, he returned to the example of his homeland and noted that cryptocurrencies can no longer be ignored, especially in light of declining public trust in the banking system and governments.<\/p>\n<p>\\n<\/p>\n<p>As a result of protests, Prime Minister Saad Hariri left his post. The country plunged into a deep economic and financial crisis, the national currency devalued by 60%, and public debt reached $90 billion. Bitcoin&#8217;s popularity among residents rose.<\/p>\n<p>\\n<\/p>\n<p>Earlier, Riad Salameh had said in 2017 that the regulator planned to issue a national digital currency.<\/p>\n<p>\\n<\/p>\n<p>For how and why central banks create CBDCs, read in <a href=\"https:\/\/u1f987.com\/en\/news\/how-and-why-central-banks-create-digital-currencies-cbdcs\">article<\/a> ForkLog.<\/p>\n<p>\\n<\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\\\"https:\/\/t.me\/forklogfeed\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">ForkLog Feed<\/a> \u2014 the full feed of news, <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Central Bank of Lebanon plans to launch a digital currency (CBDC) next year to bolster trust in the banking sector and move toward a cashless payments system. According to Bloomberg, this was announced by central bank governor Riad Salameh.<\/p>\n","protected":false},"author":1,"featured_media":31557,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1095,2021],"class_list":["post-31556","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cbdc","tag-lebanon"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/31556","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=31556"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/31556\/revisions"}],"predecessor-version":[{"id":31558,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/31556\/revisions\/31558"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/31557"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=31556"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=31556"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=31556"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}