1 year ago
Tascombank, 1 of the oldest banking institutions successful Ukraine, has completed the aviator investigating of a integer currency based connected the Stellar network. The slope believes that its physics wealth level represents an economically viable implementation of blockchain technology.
Tascombank Conducts Tests With New Ukrainian Digital Currency
An “electronic hryvnia” has been tested by Ukraine’s Tascombank during the aviator signifier of a task to make a currency with the Stellar network. During the trials, the coin was utilized successful settlements betwixt buyers and sellers, the fiscal instauration announced successful a report.
Operations with the caller integer plus were carried retired successful accordance with the existent know-your-customer and anti-money laundering procedures, the slope pointed retired successful the document, quoted by the crypto quality outlet Forklog.
Tascombank besides emphasized its probe demonstrated a fig of advantages of employing blockchain, including transparency astatine each stages of circulation and betwixt each participants successful the transactions, accrued information and confidentiality for idiosyncratic data, debased costs, and precocious capacity.
The physics wealth circulation strategy studied during the aviator is an economically viable concern exemplary for utilizing blockchain technology, the authors of the study elaborated, stating that they “consider the aviator task palmy and promising successful presumption of further merchandise improvement and implementation.”
The slope added that it plans to proceed its studies connected the issuance and circulation of blockchain-based physics money. One of the areas its aboriginal probe is going to screen volition beryllium the imaginable usage of specified currency successful retail non-cash payments.
Tascombank besides revealed that the National Bank of Ukraine (NBU) believes the results of its pilot, which was launched astatine the extremity of 2021, tin beryllium utilized by experts astatine commercialized and cardinal banks to behaviour further analysis.
In January of 2021, the Ministry of Digital Transformation successful Kyiv chose the Stellar Development Foundation arsenic a spouse successful the improvement of the country’s virtual assets ecosystem, including infrastructure for NBU’s cardinal slope integer currency (CBDC). In November, past year, the NBU presented a “draft e-hryvnia concept” to members of the crypto industry, banks, and different fiscal institutions.
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Do you deliberation currencies similar Tascombank’s e-hryvnia tin beryllium introduced successful parallel with government-issued CBDCs? Share your thoughts connected the taxable successful the comments conception below.
Lubomir Tassev
Lubomir Tassev is simply a writer from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, alternatively than what I do.” Besides crypto, blockchain and fintech, planetary authorities and economics are 2 different sources of inspiration.
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