Menu

Search

  |   Digital Currency

Menu

  |   Digital Currency

Search

National Bank of Ukraine to use blockchain for issuing e-money

The National Bank of Ukraine plans to use blockchain or distributed ledger technology in the country for facilitating a cashless economy.

The NBU Board has approved a roadmap for Cashless Economy, which for the first time reveals the official plans, with their expected timeline, for the use of blockchain technologies in Ukraine, Forklog reported.

According to the roadmap, the central bank plans to issue “e-money” which will serve as the cashless payment instrument. The bank plans to issue electronic money to optimize blockchain use and to create an alternative to card payments. According to the road map, it will occur no later than the fourth quarter of 2017.

The NBU has been considering using blockchain for the implementation of Cashless Economy for quite some time. In September, Serhii Shatsky, Director of Payment Systems and Innovative Development Department, said:

“NBU is committed to assist the Ukrainian payment market to become mainly cashless; for that end, latest financial technology may be useful. Therefore, we try to keep open the dialogue with market. In return, we also look into solutions, which could facilitate payments both for citizens and SME. Among such are cloud technologies, mobile payments, QR-codes to pay for goods and services, Blockchain based solutions, which are set to prove their viability in payments area”, as quoted by Forklog.

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

Fintech Week Chicago

April 28 21:00 UTC Released

MXFiscal Balance (Pesos)*

Actual

340.61 bln MXN

Forecast

Previous

-1.93 bln MXN

April 28 21:00 UTC Released

CNFiscal Balance (Pesos)*

Actual

340.61 bln MXN

Forecast

Previous

-1.93 bln MXN

April 30 01:00 UTC 567567m

CNNBS Non-Mfg PMI*

Actual

Forecast

Previous

55.10 %

April 30 01:00 UTC 567567m

CNNBS Manufacturing PMI*

Actual

Forecast

51.6 bln $

Previous

51.8 bln $

April 30 23:30 UTC 19171917m

AUAIG Manufacturing Index

Actual

Forecast

Previous

57.5 %

May 1 00:00 UTC 19471947m

KRExport Growth Prelim*

Actual

Forecast

15.3 %

Previous

13.6 %

May 1 00:00 UTC 19471947m

KRImport Growth Prelim*

Actual

Forecast

21.0 %

Previous

27.7 %

May 1 00:00 UTC 19471947m

KRTrade Balance Prelim*

Actual

Forecast

Previous

6.27 bln $

May 1 00:30 UTC 19771977m

USNikkei Mfg PMI

Actual

Forecast

Previous

52.8 %

May 1 00:30 UTC 19771977m

JPNikkei Mfg PMI

Actual

Forecast

Previous

52.8 bln $

Fintech Week Chicago
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.