Tunisia Unveils Central Bank Digital Currency

Asia Blockchain Review
November 17, 2019

The Central Bank of Tunisia has announced it is officially testing the digital currency known as the ‘e-dinar’, with business transactions to be available in the next several months.

CBDC and Reducing Reliance on the US Dollar 

According to Ledger Insights, the central bank digital currency (CBDC) was launched at the Forex Club of Tunisia, with Marouane El Abassi, head of the central bank, making a symbolic transfer of one dinar to a representative from the International Monetary Fund (IMF).

Tunisia’s central bank also revealed it will utilize the e-dinar for cross-border transactions, allowing it to rely less on the US dollar.

The digital currency will be made available to the general public with two thousand kiosks to be set up where users can add money to their digital wallets. A mobile application is being developed to cater to users of the CBDC, with payments to be made by simply scanning a QR code.

Adopting Blockchain Technology for Transactions

The e-dinar is operated on a blockchain platform developed by Universa, whose mainnet provides a global infrastructure for governments, enterprises and corporate solutions.

Alexander Borodich, Universa CEO, explained that Tunisia’s CBDC is vastly different from cryptocurrencies. According to Universa, the use of blockchain ensures that all transactions are made with transparency.

“Electronic banknotes cannot be faked – each such banknote, like the paper version, is protected by cryptography, it, like the paper counterpart, has its own digital watermarks. And the production of such a banknote is 100 times cheaper than wasting ink, paper, electricity for the printing press,” a company statement said.

Source: https://www.ledgerinsights.com


About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

Follow Asia Blockchain Review on:

Related Article
Blockchain Enables Verification of COVID-19 Immunity
Given the virus is not going to disappear in a hurry and we are some time away from vaccinating the ...

November 21, 2020

Illicit Cryptocurrency Activity: A Concern
Market regulators such as SEC has accepted cryptocurrencies as a financial instrument and are consta...

November 20, 2020

IBM Using Blockchain to Help Businesses Reopen during COVID-19
IBM’s healthcare unit, IBM Watson recently announced that they will soon be launching an app to supp...

November 20, 2020

Canadian Pacific Railway Collaborates with TradeLens
Canadian Pacific Railway recently collaborated with TradeLens in a bid to improve its efficacy as an...

November 19, 2020

We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us