The Ministry of Tax Services explained why a bank is needed for the eGrivny test

Deputy Minister of the Ministry of Digital Industry Alexander Bornyakov gave an explanation of the role that Tascombank plays in the pilot project of eGrivny. He answered this question during a live broadcast on the Money of the Future project.

The journalist asked why he needed bank, if digital currencies are inherently not tied to financial institutions. Here is the official’s answer:

“According to the legislation, digital money can be launched only from August next year. We are testing the overall technical solution so as not to linger and not to waste time. We took the blockchain + electronic money path. This is a unique solution. We have combined electronic money, which is already spelled out in the legislation, with the blockchain.

In order to test all this, we need electronic money. Bank has electronic money, while Stellar has blockchain. Therefore, they have united. ” See the full version of the interview here:

Recall that one of the significant achievements of the Ministry of Digital Science in 19615 is the pilot launch of eGrivna. So far, digital currency is being tested in a narrow circle of users. But if all goes well, Ukrainians will be able to use eHryvna already in the new year.

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