Uruguay announces new digital currency pilot


nnAccording to press reports, the Uruguayan president in the “monetary and financial system of the future” meeting that the future central bank issued a digital currency function will be similar to cash, but different from the current mobile phone money transfer, but the bill between the user transfer. Specific pilot launch time to be determined, the underlying technology has not yet determined whether to adopt the recent popular block chain technology. However, Canada, Britain and other countries of the central bank has been in a similar project.n
nTranslation: Annie_Xun
Uruguay is the country that recently started the central bank’s digital currency test.n
The Uruguayan central bank (BDC, Banco Central del Uruguay) announced that a number of users will help test mobile app transfers.n
BCD governor Mario Bergara said in the “Future of Money and the Financial System” meeting that the digital currency function would be similar to cash and transfer the balance between individuals.n
According to the Latin American Herald Tribune, he said:n
n”Not like this now with mobile phone remittances, but in the phone to save the bill, and then transferred from a user to a user.”n
nIt is not known whether digital money is running on a block-based chain, but global central banks, including Canada and the UK, are already conducting similar technical tests.n
Bergara said that the date of publication has not yet been announced, but the pilot “quite close” release stage, the project some technical elements need to be finalized.n
n”This will be the process of testing, trial and error, success and failure.”n
nThe global central bank has been exploring new forms of digital currency issuance, including through distributed books. Earlier this month, a project blog released by the Bank of England said that no matter what the underlying technology, the central bank issued a digital currency will need “extraordinary” flexibility in order to be successful.n

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