{"id":8213,"date":"2021-08-18T16:03:23","date_gmt":"2021-08-18T15:03:23","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=8213"},"modified":"2021-08-18T16:03:32","modified_gmt":"2021-08-18T15:03:32","slug":"ukrainian-ministry-sets-to-begin-its-digital-currency-pilot-for-staff-salaries","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/ukrainian-ministry-sets-to-begin-its-digital-currency-pilot-for-staff-salaries\/","title":{"rendered":"Ukrainian ministry sets to begin its digital currency pilot for staff salaries"},"content":{"rendered":"\n
Following earlier news by an official which stated that the new bill will allow salaries payment in crypto<\/a>, paying ministry employees in e-hryvnia could be a suitable first pilot for the central bank digital currency.<\/h5>\n\n\n\n
\"Ukrainian<\/figure>\n\n\n\n

Ukraine's Deputy Prime Minister and Minister of Digital Transformation\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, Mikhail Fedorov, has unveiled a possible early use case for the country's planned central bank digital currency (CBDC).<\/p>\n\n\n\n

The minister highlighted considerations inside the ministry to test the CBDC by employing the electronic money in staff salary payments in a recent interview broadcast by Ukrainian media outlet TSN:<\/p>\n\n\n\n

\u201cFrankly as one of the first pilots, we have on the table the question of paying salaries to employees of the Ministry of Digital Transformation in electronic hryvnia.\u201d<\/p><\/blockquote>\n\n\n\n

Fedorov made these remarks while saying that the e-initial hryvnia's rollout <\/a>should focus on a small, restricted use case rather than being used for social payments.<\/p>\n\n\n\n

Fedorov believes that the CBDC needs to be put to the test in order to prevent its misuse, which is why he proposes staff wage payments as a realistic trial plan for the national digital currency.<\/p>\n\n\n\n

Following the ratification of a new payment services law by the country's government, Ukraine's central bank got a license to launch a digital currency.<\/p>\n\n\n\n

Over the last few years, the National Bank of Ukraine has been working on developing and releasing a digital currency. The Ministry of Digital Transformation is also involved in the CBDC arena, having worked with the Stellar Development Foundation to build a joint CBDC and digital asset strategy<\/a>.<\/p>\n\n\n\n

CBDCs are frequently used to pay government employees as a trial implementation strategy for national digital currency projects.<\/p>\n\n\n\n

Indeed, numerous projects have chosen to pay state staff in the CBDC, one of the few sovereign digital currencies now in circulation.<\/p>\n\n\n\n

China, one of the world's major CBDC countries, unveiled a blockchain-based system for digital yuan wage payments in June.<\/p>\n","protected":false},"excerpt":{"rendered":"

Following earlier news by an official which stated that the new bill will allow salaries payment in crypto, paying ministry employees in e-hryvnia could be a suitable first pilot for the central bank digital currency. Ukraine’s Deputy Prime Minister and Minister of Digital Transformation , Mikhail Fedorov, has unveiled a possible early use case for […]<\/p>\n","protected":false},"author":12,"featured_media":8221,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26],"tags":[132,717,2300,1054,1348],"class_list":["post-8213","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrencies","tag-crypto","tag-digital-currency","tag-pilot-trial","tag-salaries","tag-ukraine"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/08\/Ukrainian-ministry-sets-to-begin-its-digital-currency-pilot-for-staff-salaries-scaled.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/8213","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=8213"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/8213\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/8221"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=8213"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=8213"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=8213"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}