in Tunisia, the Central Bank has announced the introduction of a digital currency. The Blockchain is the platform on the E-Dinar is traded, provided by the Russian company Universa. As the first digital currency is the E is published Dinar of a Central Bank. Other Central banks, however, are already waiting in the wings and could soon follow suit.
Moritz wire
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UPDATE: The Tunisian Central Bank (BCT) has today, 13. November, issued a statement in which they denied the output of a digital currency. In the statement, the Central Bank acknowledges that a digital currency is the Central Bank (Central Bank Digital Currency, CBDC) in a “period of Reflection” is located. There are no “relations with national or foreign operators but, in order to create a digital currency”.
As reported by the Russian news Agency TASS, published by the Tunisian Central Bank is a private digital currency. The E-Dinar was the first digital currency issued by a Central Bank (Central Bank Digital Currency, CBDC). Consumers will receive in the coming months, access to the currency transport.
The Russian Tech company Universa provides the associated Blockchain with the same Name, which allows the trading of virtual currency. The access to the CBDC is to be carried out online and at local dispensaries. There the consumer via a Browser can Deposit application, or in the future via an App money in a digital Wallet. Transfers between people and businesses be carried out by scanning a QR code.
Universa has started around a year ago, with the work on the Blockchain-a platform for E-Dinar. The company charges fees for every transaction, but do not have access to encryption codes, or insights in the data. The Central Bank of Tunisia is the only Organ that the System monitors.
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CBDCs or national digital currencies are values of digital assets, the state regulatory authorities, usually the Central Bank, output and control. They stand in contrast to decentralized crypto-currencies like Bitcoin by Fiat money in digital Form. Each CBDC-unit is a digital Equivalent to an actual paper note with face value and serial number, which is available in digital Form.
Alexander Borodich, CEO of Universal, has communicated accordingly:
Electronic Bank notes can’t be faked – each of these banknotes is protected as the paper version by cryptography, it has such as the paper against a piece of your own digital watermark. And the production of such a Banknote is 100 times cheaper than the waste of ink, paper and electricity for printing machine.
Other Maghreb countries such as Algeria and Morocco could follow the example of Tunisia soon. Also Malaysia, the Philippines, Argentina, Brazil, and China have already expressed the introduction of its own CBDC emissions.
in Particular, China’s plans of a own, by the Central Bank-regulated digital currency seem to be currently in travel to be incorporated. Spurred on by the worry that Facebook’s scheduled Libra strengthens the supremacy of the US dollar as a currency unit, is pushing the Chinese government the introduction of a Central banks-Coins.
in addition, Singapore, Thailand, Canada and the USA have already been known to progress in the field of digital currencies. The EU is currently considering the introduction of a digital Euros, published by the European Central Bank (ECB). With the increasing proliferation of crypto-currencies and the announced Facebook Libra the loss of its monetary sovereignty threatens the States.
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