Tunisia has become the worlds first country to introduce a digital currency based on a blockchain platform.

The currency named the E-Dinar is the brainchild of Russian start-up Universa and a direct collaboration with the Tunisian government central bank.

The currency will be paper backed and the digitised Tunisian dinar will be issued on the Universa Blockchain.

The news comes hot on the heels of news that the European Union is drafting a paper to create their own crypto currency named ‘Eurocoin’.

China are close to doing the same with rumours that they will be digitising the Yuan by early next year.

The E-Dinar will be the first Central Bank Digital Currency or ‘CBDC’ worldwide and will not be a decentralised currency but rather a centralised currency where issuance is controlled by the central bank.

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