Ukraine is preparing to issue digital money - “e-hryvnia”, an analogue of cryptocurrency, which, in fact, is not a crypto-asset.
The National Bank is working on issuing an electronic hryvnia, which is designed to fulfill the main task of electronic money - to reduce the amount of cash in circulation, the issue of which is quite expensive for the state. Experts are confident that the digital money offered by the National Bank has nothing in common with cryptocurrency.
First, digital money is issued by government financial institutions. Essentially, these are their financial obligations that can be purchased with cash.
Secondly, digital money can under no circumstances be anonymous.
Thirdly, digital money is exchanged for cash or non-cash funds in a 1:1 ratio.
With the help of blockchain, the National Bank plans to launch a third form of national currency, digital, in addition to the cash and non-cash forms operating in the country. At the same time, the National Bank plans to use all the advantages of blockchain technology and make e-hryvnia transactions fast, safe and inexpensive. Storage of the new currency will be provided by banks in electronic wallets.
Protection against inflation of the electronic hryvnia will be provided by a stable 1:1 exchange rate, not subject to market influence. And all trading networks will accept it for payment via a computer or mobile device.
The National Bank considers digital money in this format a promising direction, especially against the backdrop of the possible adoption of laws regulating the country’s cryptocurrency industry. However, while the National Bank has not presented a specific plan for the implementation of ideas, it does not advertise or publicly discuss the national e-hryvnia project, limiting itself to general statements, which counterfeiters were able to take advantage of. In April of this year, attackers launched a fake “electronic hryvnia” on behalf of the National Bank and the Ministry of Justice.
A message about the release of a national Ukrainian cryptocurrency, called eUAH, appeared on a specialized US resource. The scammers planned to raise funds under the guise of a state ICO.
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