Ukraine has already announced a project of electronic currency and formed a team for the development of digital money. Technical development is underway. It includes program writing, design of money, and program design. The ministry of digital culture declares that there is a clear timetable for the project, therefore in 2022, the case with the Ukrainian-hryvnia will be realized.
"Two weeks ago there was a meeting with the head of the National Bank of Ukraine, where the teams presented a project map. It was already agreed by both: the bank and us. This year we’re going to launch a pilot project — three companies went to develop programmable money. To do it pilots, cases — we can assess the possibilities of various technological solutions," said minister of digital transformation Mykhailo Fedorov.
6 possible applications are under consideration:
- For retail non-cash payments;
- For social payments;
- For settlements on securities and other financial instruments;
- For corporate payments of legal entities;
- For foreign payments;
- To receive income.
The majority of Ukrainian experts polled believe that e-hryvnia should be realized based on blockchain technology.