The National Bank is preparing for an experiment in the use of digital hryvnia (e-hryvnia) until the end of 2024. Anyone can take part in it. “Economic Truth” writes about this with a link to the head of the Department of Payment Systems and Innovative Development of the NBU Andrey Podderegin.
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“We plan to make this pilot project open. Banking and non-banking institutions will be agents of the central bank in distributing money, exchanging and allowing users to manage it using their mobile applications,” Podderegin said.
According to him, the NBU has currently sent out an invitation to banks to participate in a pilot project. In the future, those banks that confirm their participation will invite their clients.
The National Bank will announce the volume of e-hryvnia emission after they understand how many banks and their clients actually want to take part in testing the e-hryvnia. The NBU plans to start the pilot project in the second half of 2024. Tentatively, it will last about six months.
As part of the experiment, everyone who wants to protest the e-hryvnia will be able to exchange their cash and non-cash money for it.
According to him, the goal of the experiment is to the use of central bank digital money in Ukraine – to determine whether there is a demand for this form of money among the population and whether there is a need for its implementation at all.
As part of the experiment, it is planned to test the ability to pay with digital money offline. In addition, the NBU plans to provide the technical ability to program e-hryvnia.