Table 3 Digital currency projects based on blockchain

In use

Barbados

Launched a blockchain-based version of the Barbadian dollar in 2016.

Tunisia

Upgraded the e-dinar with blockchain based technology in 2016.

Senegal

Launched a blockchain-based version of the eCFA(digital currency) in 2016. This currency will be used as the official currency of The Western African Economic and Monetary Union.

Pilot testing or considering

Canada

‘Project Jasper’ phase II was started at December 2016 and announces phase 3 of ‘Project Jasper’ DLT Trial in October, 2017.

China

Completed a trial run of digital currency in January 2017.

Denmark

Planning to Introduce E-Krone based on blockchain in February 2017.

England

Approved the digital currency issued by fintech company in 2016.

Estonia

Estcoin, a government backed cryptocurrency, announced in August 2017.

France

Tested blockchain technology in October 2016.

Germany

Tested blockchain technology in December 2016 with Hyperledger blockchain technology.

India

Finished testing blockchain solutions for core banking processes in the country in May 2017.

Japan

Japanese banks are planning to introduce a digital currency for the 2020 Tokyo Olympics.

Netherland

Preparing an ambitious experiment aimed at discerning if an entire financial market can be built on a blockchain and testing a prototype “DNBcoin.”

Russia

Developing a national digital currency based on Ethereum in June 2017.

Singapore

Completed the first phase of that pilot in March 2017 with the Private Ethereum Blockchain.

South Africa

Planning to Introduce national digital currency based on blockchain in February 2017.

Sweden

Considering the possibility of issuing blockchain based digital currency in November 2016(no update as of December, 2017).

Ukraine

The central bank began working on a blockchain-based system in November 2016 to develop a “cashless economy” and expanded and reinforced the team in December, 2017