Ukraine Latest Central Bank Considering Bitcoin Tech

Ukraine Latest Central Bank Considering Bitcoin Tech

THELOGICALINDIAN - Central banks all over the apple are exploring the possibilities ofcreatingtheir own civic agenda currenciesbased on Bitcoins blockchain technology Thisdigital bill movement was aboriginal seenin Tunisia but has fabricated its way to Ukraine Senegal and Sweden

Also read: Ukraine Bank Roadmap: Blockchain-Based Payments by Q4 2017

Ukraine Joins a Growing Number of Central Banks Considering Bitcoin Technology

Ukraine aloof abutting a growing cardinal of axial banks accepting in on the cyberbanking money concept. As allotment of the nation’s Cashless Economy project, the National Bank of Ukraine (NBU) is to affair a blockchain-based agenda adaptation of the Hryvnia by abutting year. At aboriginal the bill will broadcast alongside its concrete version.

The move isn’t surprising, as NBU has in September stated it was “interested in added development of high-tech banking markets in Ukraine as it will absolutely access the accomplishing of the Cashless Economy project”.

Riksbanken in Sweden, the world’s oldest axial bank, is because the aforementioned move as the country has apparent a abatement in banknote use, according to the Financial Times. It’s still in discussions whether agenda currencies should accompaniment addendum and coins, or alter them. Soon the country may attestant the addition of an “ekrona” (“e-coin”), a blockchain-based agenda adaptation of the Swedish Krona.

The Bank of England and the Bank of Canada accept reportedly discussed arising their own agenda currencies application blockchain technology. The immense amount abridgement in affairs could, according to a report from the Bank of England, addition GDP by almost 3%.

Tunisia Was the First to Use Blockchain Technology on its National Currencytunisia blockchain

Late aftermost year, Tunisia had over bisected a actor bodies application its agenda currency, eDinar. The country’s column office, La Poste Tunisienne, again appear it would accomplice with Monetas and DigitUs to accommodate the country’s agenda bill with blockchain technology. It was the aboriginal one to do so.

Following Tunisia’s footsteps, Senegal appear in aboriginal November it was additionally activity to get their agenda bill eCFA chip with blockchain technology as well. The new bill is to broadcast alongside the country’s authorization bill CFA Franc, aloof like in Tunisia. Unlike bitcoin, these currencies are issued alone by a country’s axial bank.

Do you anticipate added countries will anon advertise their own blockchain-based agenda currencies?

Images address of Pixabay.