Belarus has launched its own cryptocurrency, the thaler. Its creators, a group of Belarusian economists, IT specialists and journalists, emphasize that their brainchild will not compete with the Belarusian ruble, its task is to help attract investment into the country’s economy and help the development of small and medium-sized businesses.
The creators of the thaler claim that it is based on blockchain technology and the Bitcoin algorithm - this is a distributed (decentralized) cryptocurrency that does not have a single emission center and centralized control. Transactions within the system and the issue of new coins are ensured by the computer network of the Thaler users themselves.
The Thaler received its name in honor of the monetary unit common in the old Belarusian lands during the “golden age” of Belarus — during the time of the Grand Duchy and the Polish-Lithuanian Commonwealth. The first cryptotaler transactions took place on September 13, 2017. It is assumed that all operations within the network will be carried out at the expense of the computer power of Thaler users themselves, and the total issue of coins will be limited to 23,333,333 units. The developers believe that such a solution will help strengthen the country's economy, reduce interest rates on loans and the level of inflation, eliminate the problem of non-payments, and generally lead to an increase in the efficiency of the financial system. The nominal exchange rate of one Thaler is 10 Belarusian rubles.
For now, only Windows and Linux users will be able to use this cryptocurrency, since developers have created wallets and software only for these operating systems. By the way, like any digital currency, Thaler can be used anywhere in the world, however, the economic and ideological justification of the concept presupposes the use of this currency specifically in the society and economy of Belarus.
The creators of Thaler are confident that it will help “untie” money from the state and return people control over their savings.
According to https://russian.rt.com
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