National Bank of Ukraine presented the results of testing e-hryvnia

The National Bank of Ukraine (NBU) continues to explore the possibility of launching an electronic hryvnia (e-hryvnia). This is stated in the analytical note published by the regulator on the results of a pilot project for the implementation of the Electronic Hryvnia platform.

In particular, the NBU reported on the results of a closed pilot testing of the use of e-hryvnia, which ended in February. Thus, a limited number of coins were issued, operations with which were tested by working groups consisting of NBU employees, volunteer companies, and also experts from the World Bank.

“Our research has given us not only practical experience, but also has generated new questions for the National Bank. What will be the impact of this tool on the payment market ecosystem? Will the demand for e-hryvnia sufficient from users, vendors and market participants? What technology should be used? What should be the level of anonymity of transactions with e-hryvnia? Today, there are no exact answers to these questions not only here, but also among other central banks of the world, ”said the deputy head of the NBU, Sergey Kholod.

The Ukrainian regulator emphasizes that he intends to continue to explore the possibility of introducing e-hryvnia.

Recall that the creation of a national currency of Ukraine in digital form in the NBU started talking at the end of 2016. The pilot project of testing e-hryvnia as part of the Cashless Economy project launched by the National Bank was launched in June 2017.

At the same time, in August of the same year, the founder of the Ukrainian cryptocurrency exchange Kuna, Mikhail Chobanyan, proposed an alternative national cryptocurrency project under the working title “cryptographic currency”.