Tunisia to Launch E-Dinar National Currency Using Blockchain

Tunisia has become the first country to start moving its national currency to a blockchain platform.

Russian ICO startup Universa will help issue and manage Tunisia’s E-Dinar National Currency, reported Russian news agency Tass on Nov. 7.

E-dinar expected to be more transparent, cheaper to issue

The Central Bank of Tunisia announced that the digitization of the Tunisian dinar has started and that the paper-backed CBDC will be issued on the Universa Blockchain.

Furthermore, Universa will also reportedly receive a percentage of all transactions carried out with the “e-dinar” while the ledger will be visible to the country’s central bank.

Digital currency will change how private banks work

Borodich expects digital currency to change how private banks operate. All the physical money will stay at the central bank, while commercial banks will only provide services and compete over the quality of the services offered.