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
Aircraft Parts Maker Moog Inc Adopts Blockchain for Digital Models
Aircraft parts maker Moog Inc. has been running a trial that combines blockchain technology with 3D ...

December 6, 2019

BNY Mellon is Newest Member of Marco Polo Blockchain Network
The Bank of New York Mellon (BNY Mellon) has joined the Marco Polo blockchain trade finance network ...

December 6, 2019

Central Bank of France: Blockchain Can Answer Market Demands
The first deputy governor of the Central Bank of France says that blockchain can be implemented to c...

December 5, 2019

Red Cross Developing Blockchain-Based Currency for Aid Distribution
Three national units of the Red Cross plan to use blockchain-based currencies instead of cash and vo...

December 5, 2019

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