Ukraine's central bank mulls introduction of blockchain-based e-hryvnia

Ukraine's central bank is studying advanced innovation technologies and viewing a wide range of options for future use, in particular, under the Cashless Economy project, the regulator said on Facebook on Thursday, January 11.

Read alsoFT: Ukraine to create group to regulate cryptocurrency market"Yet, the NBU stresses that the point at issue is the possible introduction of e-hryvnias rather than its own cryptocurrency," it said.

The regulator recalled that late in 2016, it started a research project on the possible introduction of e-hryvnias, the national currency on the basis of blockchain technology, which is expected to minimize transaction costs amid remittance and handle operations almost instantaneously.

"Examination of this possibility under the said project is under way," it said.

As UNIAN reported earlier, the National Coordination Center for Cybersecurity has instructed different government agencies to set up an ad hoc group to regulate the circulation of cryptocurrency in Ukraine.