The national Bank of Ukraine (NBU) considered the possibility of the launch of the government digital currency based on blockchain.
According to NBU, the hryvnia based on the blockchain, or e-torc, will continue to remain under government control. It is expected that the coin supported by the government will increase the percentage of cashless payments, and reduce their cost.
Ukraine is not the first time raises the idea of “digital coins” in the framework of the project “Cashless economy”. So, in January, the NBU announced a plan to launch e of the hryvnia, which is not based on blockchain technologies.
According to Bank officials, this version of the Ukrainian state coins will be tied to the national currency at a ratio of 1: 1. According to NBU, the hryvnia digital will be able to prevent inflation. However, its production is still in the planning stages. The Bank said:
“The decision on the feasibility of introducing electronic hryvnia in full will be made only after detailed analysis.”
According to Vesti, the adviser to the head of the Association of Ukrainian banks Alex Kush, believes that digital currency such as e-torque, you can’t compare a cryptocurrency because cryptography is anonymous and decentralized, by definition, in contrast to the state of the coin.
Kusch also said that digital currency on a blockchain, endowed with the support of the state, is “quite promising”, adding:
“On the one hand, it will protect human rights from the point of view of ownership, and on the other – will significantly reduce the cost and time of transactions, as well as accelerate the circulation of money in the country.”
Recently, the Parliament of Ukraine has proposed tax bill aims to regulate the cryptocurrency, proposing to implement a 5% income tax and 18-percent tax on profits from cryptocurrency transactions.