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Post: Belarus Building Blockchain Platform for Central Bank Digital Currency (CBDC)

Belarus Building Blockchain Platform for Central Bank Digital Currency (CBDC)

Key Points:

  • Belarus is developing a blockchain platform for its central bank digital currency (CBDC).
  • The CBDC platform is being built on the open-source Hyperledger Fabric blockchain.
  • The Center of Bank Technologies in Belarus began building the CBDC platform in January and is now actively hiring developers.
  • Belarus hopes to use its digital ruble for cross-border transactions despite being under international sanctions.

Further Insight:

Belarus is moving forward with its plans to develop a blockchain platform for its central bank digital currency (CBDC). The country, which is under international sanctions, sees the use of its digital ruble as a way to facilitate cross-border transactions. The state-owned Center of Bank Technologies began building the CBDC platform in January and is now actively hiring developers. The platform will be built on the open-source Hyperledger Fabric blockchain, a popular choice for enterprise blockchain solutions. The Center of Bank Technologies is specifically seeking backend developers with experience in Hyperledger Fabric and Linux, as well as expertise in creating smart contracts.

Hot Take:

Despite facing international sanctions, Belarus is actively pursuing the development of its central bank digital currency. By leveraging blockchain technology and the open-source Hyperledger Fabric platform, Belarus aims to create a digital ruble that can be used for cross-border transactions. This move demonstrates the country’s commitment to innovation and its willingness to explore new financial technologies amidst challenging circumstances. It will be interesting to see how the development of the CBDC platform progresses and how it may impact Belarus’s financial landscape in the future.

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