The national Bank of Ukraine announced the completion of the extended pilot project launching the e-hryvnia (grivna) and continues to explore prospects for the use of an appropriate tool. This was announced by Director of Department of payment systems and the innovative development of the NBU Alexander yablunivka mountain, reports “Interfax-Ukraine”.

“At the end of last year we launched a practical pilot, when this tool was produced for employees of the NBU in the existing methodology to assess the practical aspect of its use, the strength of the Central Bank in the implementation of such tools, and to get some feedback from users,” said yablunivka mountain at a press conference in Kyiv on Friday.

According to him, currently the pilot project is completed. NBU prepared an analytical report, which will be considered by the Board of the national Bank and later published for the General public. The document will include an analysis as a practical pilot project, and global trends in this area.

Yablunivka mountain also noted that today in the world there is a common understanding and a common strategy for the development of such currencies. Moreover, the practical phase of the study, instead of the theoretical reasoning of the impact of such instruments on monetary policy and on the ecosystem of the settlements have moved only a few Central banks in the world.

“Therefore, we in this matter, one might even say, ahead of the world leaders because we have made a step in empirical research, albeit small,” — said the representative of the NBU.

Additionally yablunivka mountain noticed that many of digital currency (central bank digital currency, CDBC), as the electronic hryvnia confused with crypto-currencies and other instruments.

“We’re not talking about the cryptocurrency, we are talking about digital currency the Central Bank. It can be implemented on technology of a centralized registry so decentralized. This is a completely separate issue that follows from the task model that is selected”, — he stressed.

Recall that the first steps to implement e-the hryvnia — the national currency of Ukraine in digital form — was made at the end of 2016. Then, the NBU jointly with the leading Ukrainian blockchain experts began to study the international experience, the risks and benefits of available technology solutions to the financial ecosystem of the country.

The specialists of the NBU stated that e-grivna chart allow government and business to minimize costs when you transfer money, and conduct snapshot operations.

A pilot project testing innovative payment solutions in running the Central Bank Cashless Economy project started in June 2017. In January 2018, the Bank said that e-torque will not “crypto-currency from the national Bank”, and the usual payment token.

In August 2017, the founder of the Ukrainian cryptocurrency exchanges Kuna Michael chobanian proposed an alternative draft of national cryptocurrencies under the working title “cryptography”. Then it was reported that open-source project will allow to develop the expertise “to run a national crypto-currencies from the national Bank.”

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