Belarus develops national cryptocurrency

The Belarussian publication of Interfax reports that Belarus has developed the first national cryptocurrency, called the thaler.

The creators of the Belarusian crypto currency plan to launch it on the international exchanges in January.

“We will enter the first international exchanges in January," said one of the creators of the thaler, Sergey Lavrinenko.

In addition, according to Lavrinenko, the thaler is planned to launch on the Belarusian stock exchange, which will soon appear with the implementation of Decree No. 8, "On the Development of the Digital Economy".

"Moreover, our team will take part in the creation of one of the serious exchanges", noted the co-founder of the cryptocurrency.

According to another creator of thaler, Denis Lavnikevich, total capitalization of already-denominated thalers currently totals over $1 million.

"Over the past few weeks the thaler's value has risen from a few cents to somewhere [near] a dollar. (...) and it will only go up further; it's an irreversible process," he said.

At the same time, the creators of the Belarusian crypto currency emphasized that this is not a commercial project.

According to Lavnikevich, the main goal is "to give the country a financial instrument that will allow it to remain in line with current trends," to create a community of enthusiasts, and to verify and confirm its own competencies in the field of blockchain.

In addition, they wanted to "create an economic tool that can be used by various businesses”; for example, in various loyalty programs.

As previously reported, Belarusian President Alexander Lukashenko signed a decree "On the Development of the Digital Economy", which legalized cryptocurrency mining and operations.

  Belarus, cryptocurrency