May 28, 2023

Tajikistan creates digital community jointly with Fantom Foundation

The Fantom Foundation cooperates with one of the oldest and largest banks in Tajikistan Opienbank on the creation of digital currency Central Bank (CBDC) for the Republic of Tajikistan.

For the creation of the E-SOM, a digitalized version of the Tajik commune, Fund sent a memorandum of mind with the bank.

Both organizations will use a level-1 blockchain technology and will further integrate the Iron Bank flow from YFI publisher Andrei Kronye.

CBDC calculated for retail and commercialpayments and provides unhindered exchange of currencies with low commissions with the support of fiat currency. In the words of the team, this function solves the problem of converting foreign currency.

Similar projects are being created by central banks around the world, in particular, the central bank of Chile has announced that it will take a decision on the strategy of launching at the beginning of the 20th century.

President of the Central Bank of Chile Mapio Mapceltold that he had formed a workgroup to study a mid-term strategy for implementing a digital press to meet the needs of the payment industry.

During the presentation Mapcel noted thatThe use of digital payments in the country has grown rapidly, and now more than 40% of payments are made through credit cards, digital transmissions or data.

In addition, the president promised that the working group would critically evaluate all the risks for their banking system.

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