Saudi Arabia and United Emirates Arab (UAE) project on Tuesday for the spread of common cryptocurrency, known as "aber", which will be used in a limited way between the test period.
The translation money will be inserted "in a small number of banks in both countries" to verify its work, according to the Saudi Currency (SAMA) and the Central Bank of Ecuador in co-report.
The two governmental organizations they did not specify the date of their crystal box, or the volume of the first question or the time spent in the trial period.
The statement stated that if "technical barriers" are not given during the test period, the "economic and legal issues" will be investigated to make local payments.
The project is also trying to use "aber" as a "other refuge" unit which would be used to make local payments with the middle banks, if the "ban for any reason" of the traditional system.
Saudi Arabia and UAE said that the objectives of the project were to " understand and analyze closely "the new technologies and their potential and" a & # 39; confirm their impact in the development and reduce the cost of the income ", as well as assessing your risks
The statement indicated that other countries have piloted pilot projects to examine the use of cryptocurrencies, not to mention a person in particular.