South African rand losses in the currency to look for higher-yield investments elsewhere and due to concerns over the impact of the economic slowdown in China, South Africa's largest export partner. By mid-January, economists were speculating that the Rand could expect to see further volatility for the rest of 2016. By 29 April, it reached its highest performance over the previous five months, exchanging at a rate of 14.16 to the United States dollar. Following the United Kingdom's vote to leave the European Union (EU), the Rand dropped in value over 8% against the United States dollar on 24 June 2016, the currency's
Digital currency addition, over 90 central banks are engaged in DLT discussions, including implications of a central bank issued digital currency. In March 2018, the Marshall Islands became the first country to issue their own cryptocurrency and certify it as legal tender; the currency is called the "sovereign". Canada The Bank of Canada have explored the possibility of creating a version of its currency on the blockchain. The Bank of Canada teamed up with the nation’s five largest banks — and the blockchain consulting firm R3 — for what was known as Project Jasper. In a simulation run in 2016, the central