12/11/19 shift: The Tunisian central bank has denied working with Universa Blockchain on an E-Dinar. Many gray areas remain in this case. Case to follow.
With all eyes on China, is Tunisia poised to top everyone on the post in the race for the first state cryptocurrency?
In any case, this is what a bundle of information and official statements suggests. Tunis would thus be ready to launch a Central Bank cryptocurrency (CBDC), supported by its national currency: the E-Dinar.
This state cryptocurrency, developed by the Russian company Universa Blockchain, is on track for a rapid launch.
Tunisia, Bitcoin and cryptocurrency: evidence revealed?
Buy Bitcoin in Tunisia (or other cryptocurrencies) has never been the most obvious thing. Like many governments in recent years, the Tunisian executive has never really shown an overflowing affection for crypto-assets.
However – and in relative indifference – Tunisia explained, however, last April, planning to become the first state to issue Bitcoin-backed sovereign securities. It is more precisely on the occasion of a meeting of IMF April 8 in Washington that Tunis had reported its ambitions on the subject.
With hindsight, the very recent revelation that the Maghreb country is about to announce the launch of a digital currency takes on its full meaning! Let’s get ready to welcome the E-Dinar in the big monetary family!
Good crypto-kiss from Russia
As discreet as the development of the project was, it was allowed to learn that behind the Tunisian E-Dinar we find a business… Russian!
Universa Blockchain, since it is the name of the company, has been commissioned by the Tunisian government to work on state crypto with an ambition to say the least clear: may the country gain sovereignty. The objective is in particular to be able to do without the American SWIFT system.
He did not escape the local executive – as well as the rest of the civilized world from the rest – that using Yankee solutions also meant placing oneself within the reach of US economic sanctions, according to the geopolitical moods of Washington hawks.
Tunis has understood the good old crypto adage “Not your Keys, not your Bitcoin! “ The country wants to make sure to manage its private keys itself!
For the anecdote, Universa Blockchain issued a token (UNTP) whose value has experienced a sudden phenomenon of pump 300% in a few hours, probably filling its holders with excitement!
From Dinar to E-Dinar
It’s also through the voice of TASS, the Russian public press agency, that we take note of the statements of the Central Bank of Tunisia:
“Work is underway on the creation of a platform and the digitization of the Tunisian dinar. The virtual digital currency will be issued using a platform created by Russian developers of Universa Blockchain. “
The E-Dinar will be supported by blockchain technology, guaranteeing it better security, and transactions ultra-fast at low cost. However, by the very admission ofAlexander Borodich, CEO of Universa Blockchain, the E-Dinar will not constitute not really a cryptocurrency in the traditional sense. On the one hand, the E-Dinars will belong (and will be controlled) by the Tunisian state. And in addition, each E-Dinar will be associated with its physical monetary counterpart.
To note that the project is being followed with attention by other Maghreb nations such as Morocco, Algeria and Mauritania.
For fun, the Tunisian Post already launched in 2017 a product called “E-Dinar”, in the form of a prepaid card which has no connection whatsoever with this project!
The entire Tunisian money supply could thus be quickly virtualized. We will have an emotional thought for the Russian founders of Universa Blockchain. Indeed, the company’s revenues will consist of a commission on all transactions made in E-Dinars. Enough to give ideas to the whole industry.
Nice to meet you, it’s Hellmouth! Editor-in-chief of Bitcoin, the crypto media you are honoring to survey right now (well done, you have taste).
Crypto-enthusiast of the second hour, nothing is more important to me than supporting the global adoption and democratization of the treasures that the blockchain offers us.
I write articles between two cocktails in Tahiti, my adopted island, and do not hesitate, if the opportunity arises, to feast on a plump scam or a little too enterprising Ponzi pyramid.
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