<p>Lebanon's central bank is reportedly moving toward the launch of a digital currency next year, according to a Tuesday report.</p> <p><a href="https://www.bloomberg.com/news/articles/2020-11-10/lebanon-plans-to-introduce-digital-currency-in-2021-salameh" target="_blank" rel="noopener noreferrer">Bloomberg</a>, citing Lebanon's National News Agency, reported that the digital currency is intended to shore up "confidence" in the country's banking system.</p> <p>Riad Salameh, the central bank governor in Lebanon, <a href="https://www.lecommercedulevant.com/article/28813-the-banque-du-liban-closing-in-on-the-launch-of-its-own-crypto-currency" target="_blank" rel="noopener noreferrer">has said</a> as far back as mid-2019 that such a project was in the works. At the time, the goal of the project was to provide the local economy with a purely cashless transaction system — but in those early days, concerns around money laundering and security had yet to be resolved. </p> <p>If launched, Lebanon's central bank would join the growing number of institutions pursuing such projects to fruition. Earlier this year, The Block published a wide-ranging report on the efforts being undertaken by major central banks worldwide to launch <a href="https://www.theblockcrypto.com/post/75022/a-global-look-at-central-bank-digital-currencies-full-research-report" target="_blank" rel="noopener noreferrer">central bank digital currencies (CBDC)</a>. </p>