Pilot

Twelve Russian banks are preparing for the first phase of testing the digital ruble. The CBDC will be available for payments between private individuals.

On December 14, Ukraine's TASCOMBANK announced the launch of a pilot project to test the functionality of the electronic hryvnia. Although the National Bank (NBU) supports this project, it claims that it is the only institution authorized to issue the CBDC, so the pilot project will not have a significant impact on the development process.

Ukraine will use blockchain technology to track the supply chain of timber on international markets. It is thus the second country in the world, after China, to test this pilot initiative.

Akoin (AKN), Akon's cryptocurrency, has been piloted at the Mwale Medical and Technology City (MMTC) for almost a year. Now, the coin is set to be fully launched by September 2021. Is Akon one step away from his Akon City dream?

The Australian government is working its way from traditional to blockchain technology. The Morrison government keeps pouring funds into blockchain research. On July 13, it announced fresh funding of AU $5.6 million, about $4.2 million to support the two mega blockchain pilot projects that will put Australia on the path to blockchain development.

As many countries are competing to see who will be the first to launch an effective working central bank digital currency (CBDC), China seems to be in the lead of this game. The country has carried out several trials of its digital yuan in different parts of the country.

Although pilot tests for the digital Yuan have been launched and are happening progressively across four large Chinese cities, the governor of the Chinese Central Bank in a recent report by Xinhua news claimed no official date had been set for the launch of the long-awaited project.

Digital Currency Electronic Payment (DCEP) issued by People’s Bank of China (PBoC) will not be mass-produced and will not be issued in large quantities in the short term, China Central Television reports.

On April 6, the Central Bank of Korea (BOK) announced it is planning to test the central bank digital currency (CBDC), a digital won. This new currency will be used for micro-payments first, and, if successful, we might see its wide adoption.