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NewsTech & Startups

Tunisia to Launch National Blockchain-based Digital Currency1 min read

By Editorial Staff November 10, 2019
Written by Editorial Staff November 10, 2019
Tunisia blockchain currency

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.

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 very soon.

Tunisia blockchain currency
Tunisia flag waving with stack of money coins macro

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.

Suggested Read: Find Out Why PayPal Does Not Work in Tunisia

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.

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Editorial Staff

Editorial staff account at Carthage Magazine, Tunisia's premier English lifestyle magazine with thousands of page-views per month and over 200,000 social media followers.

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