Tunisia has become the first country worldwide to endeavor in launching a blockchain-based distributed-ledger digital currency. There’s a strong global aim in developed and developing economies to migrate toward cashless economies. Russian ICO startup Universa will help issue and manage Tunisia’s Central Bank Digital Currency (CBDC), reported Russian news agency Tass on Nov. 7.
In addition, 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. The CBDC or e-dinar will be state-owned and backed by paper money.
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The e-Dinar will be issued online as well as through more than 2000 kiosks that open throughout Tunisia. It can be used to make payments in restaurants, cafes, shops, etc. by scanning a QR code. It has also planned to make international payments, thus bypassing the US dollar.
Users will have a digital wallet that they can top up via a browser application.