Tunisia announces the "E-dinar" and thus becomes the first country in the world to issue an electronic currency supported by the CBDC.
An official Russian news agency announced that Tunisia has cooperated with the Russian company Universa to launch electronic currency. The launch was confirmed by an electronic dinar exchange between the director of the Central Bank of Tunisia and a representative of the International Monetary Agency.
At a time when the world was waiting for China to launch its digital currency supported by the central bank, Tunisia shocked everyone with its leadership and issuing its digital dinar before the digital yuan . The electronic dinar is not a cryptocurrency, and therefore it is completely different from the Venezuelan " petro " currency. The Tunisian government has digitized its printed currency instead of creating a new currency.
People will be able to conduct cash transactions via this electronic dinar in a significant number of stores, cafes, and some other places. They will be able to buy the currency online or at 2,000 kiosks slated to be launched nationwide soon.
The Tunisian government announced its ambitions with transparency, as it said that it seeks to circulate its currency at the global level and to limit the US dollar’s control over international financial exchanges. It also aims to separate from the global SWIFT money transfer system , which has the ability to cut financial channels to any country at any time. An electronic dinar puts power and authority in the hands of the Central Bank of Tunisia.
The project also raised concerns about the power granted by the program to the Russian company, Universa, as the company would receive a percentage of every currency exchange. However, the company announced that it does not have access to the private keys, nor does it have the authority to view financial records.
This Tunisian move is tantamount to declaring a digital currency war between several powers such as China and Brazil, which are working on their own projects. Other countries like Canada, Singapore and Thailand think of the same thing.
The article is translated from the original .
Article image from pixabay .