E-Hryvnia and Rumors about Abandoning Cash: What Are the Real Plans.

The National Bank of Ukraine is actively working on the implementation of the electronic hryvnia (e-hryvnia), which will become an additional form of the national currency. This was reported by the YouTube channel Znai.ua.

According to an NBU representative, the e-hryvnia will become the third form of money along with cash and non-cash. Using e-hryvnia will be more economically advantageous as transaction fees will be significantly lower than those for non-cash hryvnia.

A feature of the e-hryvnia will be the ability to code and track the movement of funds, as well as the introduction of targeted use of funds, similar to the 'e-Support' program during the COVID-19 pandemic.

Plans for the Introduction of Electronic Hryvnia in Ukraine

It is worth noting that in the European Union, the introduction of digital currencies is only planned for 2026, although the economic situation and the absence of conflicts in these countries are favorable factors for faster implementation.

There is some concern about the security of e-hryvnia since there are no guarantees that the money will not disappear. There is also the question of the future of the banking system, as using e-hryvnia implies direct interaction between users and the National Bank, without the mediation of commercial banks.

Currently, the NBU states that Ukrainians will be able to choose the form of money they want to use. However, the author of the material believes that the implementation of e-hryvnia is not the most important issue for the country.