The Central Bank of Tunisia as reported by TASS news agency has launched E-Dinar. The technological platform is provided by Universa Blockchain a Russian company.

The Central Bank of Tunisia is the first central bank to transfer a part of the country’s money supply to electronic form as a central bank digital currency in contrast to the Venezuelan Petro-Dollar which is seen as a crypto-currency.

The advantage of electronic money compared to the banknotes is that electronic money can not be counterfeited and are protected by cryptography and are 100 times cheaper to issue as mentioned by Universa CEO.

The citizens will be able to transfer their money into E-Dinars and make payments in stores, restaurants etc.

Universa has plans to extend to South-East Asia, Latin America and China.