Arab countries, like other countries of the world, strive to keep pace with the civilizational progression and try to rise from their economic problems by relying on some of the available modern solutions.

The Central Bank of Tunisia launched its digital currency, the “electronic dinar”, which is based on blockchain technology, making the Central Bank of Tunisia the first central bank to do so.

The launch of the electronic dinar currency was carried out with the help of the Russian company “Universa”, which works in the field of blockchain.

The announcement of the issuance of the new currency via the “Universa” blockchain was made last November 07.

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According to speakThe newly launched central bank digital currency, called “E-Dinar,” will be state-owned and backed by a Tunisian dinar fiat currency.

Looking from another angle, the Central Bank did not create any new currency, but rather the newly created digital currency depends only on the originally available national currency, the “Tunisian Dinar” and will be supported by the actual dinar reserves, and therefore it works like stable currencies.

Alexander Borodich, founder and CEO of Universa, said:

Digital banknotes cannot be counterfeited, each banknote is protected by encryption like its paper counterpart and has its own digital watermarks.

Moreover, producing such a banknote is 100 times cheaper than wasting ink, paper and electricity in the printing process.

Central banks and large corporations seek to issue their own digital currency:

Many central banks around the world are seeking to create a digital currency parallel to the official currency of the country.

The same applies to major companies (Facebook, Telegram…) that seek to launch their digital currency, by which they give their users the freedom to pay using their new currencies.

It has been a long time since China announced its own cryptocurrency, but so far there are no further updates on the official launch date.

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Recently, the governor of the Central Bank appeared, saying:

We need time to research.

A month ago, a Korean government official revealed that North Korea is in the early stages of developing its national cryptocurrency to avoid international monetary laws and to confront the global market dominated by the US dollar.

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An official from the Marshall Islands also published a post at the 2019 Asia Conference explaining that the country plans to launch its national cryptocurrency in 2020.

Modernization:

In order to provide reliable news, avoid fake news, and provide what suits the status of Arab Bitcoin followers and users.

We note that the process of launching the E-DINAR digital currency by the Central Bank of Tunisia has not yet taken place, and that the bank is still researching and working on this, and the Central Bank has denied all allegations that the digital Tunisian dinar was officially launched.

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