Ukraine’s central bank to expand the blockchain team

nRunaway Comment: According to CoinDesk, the National Bank of Ukraine is expanding its team to transfer the country’s national currency hryvnia to the blockchain. The central bank did not release any team details, but it is learned that Ukraine’s Distributed Lab is involved in the construction of the project. This fully demonstrates the determination of the country’s central bank to promote the issuance of the national currency on the blockchain. Although central banks around the world have been discussing and exploring blockchain technology, the National Bank of Ukraine made a more detailed Imagine, this makes its job more realistic than other central banks.n
nTranslation: Clovern
National Bank of Ukraine is expanding its team to transfer the national currency hryvnia, the country’s currency, to the blockchain.n
In an email to CoinDesk, the bank disclosed that at this moment, the number of new customers and their specific identities are not disclosed at this moment. However, this expansion of the team demonstrates the determination that many other central banks do not show.n
Yakiv Smolii, Acting Governor of the Central Bank, wrote: “Today, our team is strengthened to include world-class professionals and we are optimistic that this project will make progress in the coming months.”n
Although team details were not disclosed, CohenDesk reported last week that the Distributed Lab in Ukraine is helping to build the project.n
Pavel Kravchenko, founder of Distributed Lab, confirmed that the startup was “at least responsible for the organization’s project architecture, blockchain development and security analysis, at least to a certain extent.”n
Central banks around the world have been discussing and exploring the use of blockchain technology to more effectively track money and reduce costs for commercial banks. For example, the People’s Bank of China believes that creating cryptocurrencies based on legal currency is “important” for financial development.n
However, the National Bank of Ukraine made a more detailed idea of ​​creating a “national digital currency,” which made its work more realistic than other central banks.n
According to Smolii:n
n”The Bank of Ukraine looks forward to launching e-hryvnia on a blockchain basis, and we think blockchain is the next step in the development of trading technology that, over the coming decades, will Become more popular and popular. “n
“Convenience” currencyn
In November 2016, the Central Bank of Ukraine formally started to study a block-based system to develop a “cashless economy.”n
Although the results of the earlier studies have not been disclosed, Smolli said the project is now “focused on whether the central bank can establish a viable e-hryvnia solution and will provide all stakeholders 24/7 access to easy-to-use services.”n
In this way, the Central Bank of Ukraine is working to create a more “convenient tool” for Ukrainian citizens and businesses to carry out any number of transactions.n
To fully demonstrate its determination in advancing the project, the National Bank of Ukraine has started a survey of commercial banks in the country to see if they are willing to support the circulation of the French currency in the blockchain.n
The Bank of Ukraine is also watching the best practices adopted by other blockchain users around the world.n
Smolli wrote: “We spent some time studying further international best practices and existing technologies.” And added:n
n”We are confident about the need to launch a national digital currency.”n

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