Ukrainian bank completes pilot testing of Stellar-based e-hryvnia.
Tascombank, one of the oldest banking institutions in Ukraine, has completed the pilot testing of a digital currency based on the Stellar network. The bank believes that its electronic money platform represents an economically viable implementation of blockchain technology.An “electronic hryvnia” has been tested by Ukraine’s Tascombank during the pilot phase of a project to create a currency with the Stellar network.
Tascombank also emphasized its research demonstrated a number of advantages of employing blockchain, including transparency at all stages of circulation and between all participants in the transactions, increased security and confidentiality for user data, low costs, and high capacity. The electronic money circulation scheme studied during the pilot is an economically viable business model for using blockchain technology, the authors of the report elaborated, stating that they “consider the pilot project successful and promising in terms of further product development and implementation.”
The bank added that it plans to continue its studies on the issuance and circulation of blockchain-based electronic money. One of the areas its future research is going to cover will be the possible use of such currency in retail non-cash payments. Tascombank also revealed that the National Bank of Ukraine believes the results of its pilot, which was launched at the end of 2021, can be used by experts at commercial and central banks to conduct further analysis.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Aptos (APT) Records 29% Surge, How Far Away Is APT from Its ATH?Aptos (APT) coin is up by more than 29%, outperforming top Ethereum killers
Read more »
Images capture 850-year-old aftermath of stellar collisionA Dartmouth professor's images of the explosive aftermath from the collision of two dying stars could help scientists better understand this rare type of astronomical event—and may finally confirm the identity of a brilliant but short-lived star observed nearly 850 years ago.
Read more »
Across Mass., small businesses saw less-than-stellar holiday shopping salesLocal small businesses saw the dollar amount in holiday sales increase by slightly more than 1% last year over the 2021 holiday shopping season, well shy of the 4% annual increase the Retailers Association of Massachusetts said is typical:
Read more »
Hungry black hole is transforming star into a stellar taffy and a cosmic donutRobert Lea is a science journalist in the U.K. whose articles have been published in Physics World, New Scientist, Astronomy Magazine, All About Space, Newsweek and ZME Science. He also writes about science communication for Elsevier and the European Journal of Physics. Rob holds a bachelor of science degree in physics and astronomy from the U.K.’s Open University. Follow him on Twitter sciencef1rst.
Read more »
FAA meltdown injected uncertainty, including for military pilotsAfter two Federal Aviation Administration contractors damaged an agency database, oddities started appearing in the technological tools that pilots — including those in the U.S. military — use to fly around the country safely.
Read more »
Pilots blast FAA for ‘environmental justice’ and 'inclusive' spending over system upgradesPilots are not happy about the Federal Aviation Administration’s latest budget that outlined millions of dollars for 'inclusive' language, 'racial equity,' 'environmental justice,' and 'climate change' while ignoring needed system updates.
Read more »