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Nov. 9, 2019
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The Central Bank of Tunisia has announced it's working on its own central bank digital currency (CBDC), Russian news outlet TASS reports.

State digital currency will reportedly be issued via a platform created by Russian developers — Universa Blockchain.

ING's Chief Economist Expects CBDC Mainstream in Two-Three Years

As TASS notes, Tunisia will not issue additional funds to support the launch of the CBDC. Instead, part of the country's fiat money will go into the pledge of electronic money. With the launch of the program, individuals can also switch to the E-dinar.

"Digital asset cannot be faked — each digital asset, like in case with the fiat version, is protected by cryptography, like the fiat counterpart, has its own digital watermarks. And the production of such a asset is 100 times cheaper than wasting ink, paper, electricity for the printing press," said Universa CEO, Alexander Borodich.

Earlier iHodl reported that the Central Bank of Hong Kong, the Hong Kong Monetary Authority (HKMA), is conducting research regarding a possible launch of a CBDC.

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