Will Tunisia launch its own digital currency e-dinar in 2020?

Tunisia has said it is ready to launch its state cryptocurrency operated by its central bank. It will be hosted on the Russian blockchain Universa

Tunisia may begin the digital transition of its fiduciary currency, with the creation of a state digital currency, according to various sources. Known as the E-dinar, it would be hosted on the Russian blockchain Universa, and would be expected to allow more transparent management for the central bank.

At the same time, it is interesting to note that this deal will be juicy for the Russian startup, since it would receive a percentage on every transaction made through the e-dinar, but in full transparency.

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A view of Ducatus cafe, the first cashless cafe that accepts cryptocurrencies such as Bitcoin, on their opening day in Singapore December 21, 2017 REUTERS/Edgar Su/File Photo

Obviously, many advantages are advanced to justify this major operation, even if it is necessary to take them with tweezers. For example, according to Universa's CEO, Alexander Borodich, e-dinar would reduce costs by a factor of 100:

"Digital banknotes cannot be counterfeit – every bank note is cryptographically protected as its paper equivalent has its own watermarks. In addition, the production of such a banknote is 100 times cheaper than the waste of ink, paper and electricity required for the printing process," said Alexander Borodich.

However, the Central Bank of Tunisia denied reports of launching a cryptocurrency and said, "Following rumors about the adoption by the Central Bank of Tunisia (BCT) of a digital currency solution and its engagement with a foreign company to implement this solution, the BCT refutes all such unsubstantiated allegations and information. To this end, it wishes to clarify the ambiguities... The BCT has not entered into any relationship, of any kind, with any national or foreign provider for the purpose of creating any digital currency."

But the central bank of Tunisia indicated that it is interested in the digital currency aspect but not cryptocurrency. "The BCT is currently looking at the digitalization of finance, in its digital currency dimension and not in its cryptocurrency dimension," it said in the clarification note.

This clarifies the situation concerning these people who were talking about the official launch of an e-dinar in collaboration with the central bank of Tunisia.

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