DURBAN - Central banks across the world are seeing the growing potential advantages and the disadvantages of digital currencies like bitcoin.
So what is bitcoin? It a new currency called cryptocurrency that was created in 2009. It can be used to buy or sell items from people or companies that take bitcoin as payment.
Members of the global economy have two sets of issues to address; the first is what to do, if anything, with the emergence and growth of private cryptocurrencies. And the second is whether or not to issue official versions.
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Various central banks across the world differ in their opinions of Bitcoin. Some think that it is a pyramid scheme while another thinks that bitcoin can cause a revolution in the world of money.
We've attached a gallery of what the different central banks of the world think about bitcoin.
- BUSINESS REPORT ONLINE