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After the Bitcoin jump, will Egypt enter the world of “digital currencies”?

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The digital currency “Bitcoin” continued to new record levels, as it rose on Wednesday morning, to jump in today’s trading by 22% and reached $ 46,829 during morning trading. The beginning of the big rise was yesterday after Tesla announced that it had invested $ 1.5 billion and would begin accepting the currency. Encrypted as a payment method.

Bitcoin is the most popular digital currency in the world, and it is a cryptocurrency that was invented in 2008 and began to be used in 2009.

Ahmed Mansour, a communications technology and information technology expert, said that the Central Bank, in the new banking law, allowed itself to issue digital currencies and supervise them.

Mansour added to Al-Masry Al-Youm that sooner or later the Central Bank of Egypt will enter the field of digital currencies, especially after the spread of cryptocurrency and informal currencies globally.

He explained that cryptocurrencies represent a danger to the economies of countries, due to the difficulty of tracking them, knowing their source and where they went, because they are not subject to standards, and they may be used illegally, such as financing terrorism, and illegal and internationally criminal matters.

He noted that nearly 5,000 encrypted electronic currencies are traded over the Internet in a black market, which is a huge number, and a large market, and some countries have now resorted to issuing a digital currency for them, to protect themselves from cryptocurrencies, such as what is currently happening between the two countries of Saudi Arabia. And the Emirates, which are seeking to issue a digital currency.

Mansour said, “The trend after the spread of the Corona epidemic has become the necessity of using digital and digital content, so I expect that Egypt will soon enter the world of digital currencies, and that the electronic infrastructure in Egypt has witnessed a great development in recent years, which supports decision-making soon.”

Mansour said that so far, 18.5 million Bitcoins have been issued, and that it is supposed to continue until it reaches 21 million during the coming years, according to what is announced globally.

On January 9, the Bitcoin currency reached a historical record when its value exceeded 41 thousand dollars, before returning to decline to currently record 33 thousand dollars, before it resumed rising today to record a new record.

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