Researcher at Renmin University of China: New currency ECO in West and Central African countries may move towards digital currency

On February 6, Liu Ying, a researcher at the Chongyang Institute of Finance of Renmin University of China, pointed out that entering 2020, West and Central African countries will finally have their own currencies, ECO. Although the West and Central African countries have not yet designated ECO as a digital currency, and have not adopted the blockchain plan, from the naming of this fiat currency, in order to adapt to the negative interest rate policy of the euro area, ECO may move towards digital currency. The adoption of blockchain technology is also not a future development direction. The adoption of a relatively independent fiat currency ECO will help promote the economic independence of West and Central African countries, enhance export competitiveness, promote industrialization, help strengthen the economic competitiveness of these countries, and help start with a unified currency. Promote the process of regional economic integration, and then the process of African integration.