The National Bank of Ukraine has already formed a vision of the possible architecture of the e-hryvnia and is currently preparing to launch a pilot project of a digital form of the cashless hryvnia. The stage of finding a technological partner is also coming to an end. About this reported Head of the NBU Andriy Pishnyi.
“We want this pilot to give us as much information as possible to make a decision on a large-scale release. At the same time, we are looking very closely at how the CBDC process is developing at other central banks.”, he noted.
According to Pyshnyi, the NBU pays special attention to the “Digital Euro” project, taking into account Ukraine’s European integration direction. As part of the preparations, the team of the Ukrainian Central Bank cooperates with the European Central Bank, the Bundesbank, as well as the banks of Belgium, France and Singapore.
“But it is too early to say that a decision on the issue of the e-hryvnia is about to happen. First there will be a pilot, we are currently preparing for this pilot.” – emphasized the head of the National Bank.
CBDC (Central Bank Digital Currency) is a digital currency issued by a country’s central bank (for example, NBU, ECB or Fed) and has the status of an official means of payment on a par with cash.
Instead, cryptocurrencies like Bitcoin are created by private individuals or communities, are not subject to government authorities, and for the most part do not have official currency status. In different countries, they may be allowed, partially restricted or prohibited.
