The central bank of Tunisia collaborates with a Russian blockchain company to issue dinar-backed digital currency

The Central Bank of Tunisia announced to issue its central bank-backed digital currency. The digital currency would be issued using Universa Blockchain, a platform created by Russian developers. Central Bank of Tunisia will have access to every transaction detail.

According to the TASS report, the Central Bank of Tunisia will issue the dinar-backed digital currency to its citizens. The digital currency will be issued using the Russian blockchain company Universa Blockchain. The report claims the country was first to announce the transfer of part of the country’s money supply to electronic form.

 

Russia will receive a percentage of each electronic transaction.

According to the report, Universa Blockchain is a technology exporter which falls under the national project “International Cooperation and Export,” and will receive a percentage of each electronic transaction. However, the report did not mention the amount or the nature of the “electronic transaction.” The Central Bank of Tunisia will be able to see details of every transaction.

 

Central Bank of Russia opposes the issuance of private cryptocurrencies.

Several Central banks around the world are contemplating with the idea of issuing digital currencies in order to compete with decentralized and private cryptocurrencies. The head of the Central Bank of Russia said that they support financial technologies but are against private money in any form. Private currencies can destroy monetary policy and financial stability, she added.

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Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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