he Central Bank of Tunisia launched its digital currency as E-Dinar based on blockchain technology worldwide first time in history, This is accomplished with the help of Russian blockchain startup Universa where the currency is issued on the Universa blockchain, reported on 07 November 2019.
As per the report, the newly launched central bank digital currency “E-Dinar” will be state-owned and backed by Dinar paper currency.
Basically, the central bank is not creating any new currency, this newly created digital currency is just based on their national currency Dinar and will be backed by physical Dinar reserve, So it works same as stablecoins.
“Digital banknotes cannot be counterfeited — each banknote is protected by cryptography like its paper counterpart has its own digital watermarks. Furthermore, the production of such a banknote is 100 times cheaper than wasting ink, paper and electricity in the printing process.”