Results of the research phase
All Necessary Trials to Test the Concept looked at whether countries could ultimately reduce remittance costs by using a common digital currency called the United Asian Token. The study also looked at whether blockchain could act as an "additional reserve" for domestic payments.
The initial stages of the project will focus on testing the technical aspects, with the digital currency being restricted in its use by banks in each country. If no technical obstacles arise, "economic and legal requirements for future use" will be considered, according to the two regions.
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