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Fintech company Bitt in cooperation with TASKOMBANK Bank launched a pilot project for the emission of digital hryvnia based on the Stellar blockchain
Testing of digital hryvnia emission based on Stellar blockchain has been launched in Ukraine. This was reported in a press release from the Stellar Development Foundation. According to the details, the fintech company Bitt and the Ukrainian bank TASKOMBANK are taking part in the testing.
As part of a pilot project, the parties will test the digital hryvnia in salary payments for civil servants of the Diya enterprise. The project is being implemented under the supervision of the National Bank of Ukraine and with the support of the Ministry of Digital Transformation.
“This pilot project will serve as a technological base for the issuance of electronic money and will be the next key step towards promoting innovations in payment and financial infrastructure in Ukraine,” said Deputy Minister of Digital Transformation of Ukraine Oleksandr Bornyakov.
As part of the pilot, they will test not only the issue, but also the management of asset turnover on the part of issuers. The press release emphasizes that the “regulated” digital hryvnia will be built in accordance with the current legislation of Ukraine on electronic money. It is expected that the law on payment services, which will regulate the circulation of digital money and the future emission of digital currency managed by the National Bank of Ukraine, will come into force in 2022.
Read also: Ukrainian mobile operator will launch blockchain-based services
We will remind, earlier the National Bank of Ukraine published a vacancy for the position of a blockchain developer. According to the requirements, a potential candidate must be able to develop infrastructure services based on the Hyperledger platform, design microservices and think over the business logic of smart contracts.
In early September, Ukrainian President Volodymyr Zelenskyy met with representatives of the Stellar Development Foundation. He expressed hope that the company will soon expand its staff in the country. Then Zelenskiy hoped that Stellar could open a new research center (R&D) in Ukraine. However, since then there has been no public announcement of the opening of the Stellar office in Ukraine.
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