Uzbekistan Launches Pilot Project for State-Sponsored Digital Currency HUMO

The Uzbek government has launched a pilot project for a state-sponsored digital currency, HUMO. The token is being developed by local Web3 company Asterium, with blockchain infrastructure support from Broxus.

HUMO token offers a unique proposition with its design focused on stability rather than speculation. Directly backed by state bonds and pegged to Uzbekistan’s sum exchange rate, HUMO is programmed to mitigate the volatility often seen in other cryptocurrencies like Bitcoin and Ethereum.

This initiative fully complies with the legislative regulations of the Republic of Uzbekistan on the circulation of crypto assets. The use of these tokens is expected to simplify financial transactions and increase transparency in the economic system.

Integration with HUMO Payment System

The HUMO payment system, already serving over 35 million cardholders in Uzbekistan and well-integrated in the banking and retail ecosystem, forms the strategic basis for mass integration of digital assets.

This integration is expected to be swift and efficient, considering the existing infrastructure and the HUMO system’s technical capabilities.

The Uzbek government aims to link digital currencies with familiar systems to accelerate public acceptance and change the way everyday payments are made.

This initiative is not only about technology, but also about creating a payment system that is faster, cheaper and accessible to all levels of society.

By reducing transaction costs and speeding up the payment process, HUMO is expected to improve the efficiency of the public sector and the economy as a whole.

Technical Specifications and Use Cases

HUMO leverages EVM and TVM technologies, with Tycho protocol providing high load, scalability, and low cost transactions. This hybrid approach combines the strengths of Ethereum and Broxus's TON blockchain.

The token is planned to be launched on the HUMO chain, a blockchain developed by Broxus specifically for this project.

The main use cases of HUMO include enabling instant payments with reduced transaction costs. This is particularly relevant for improving the efficiency of public services and the financial sector, ensuring that every transaction is done quickly and securely.

In addition, HUMO tokens can be used to create new financial products and services, further expanding the possibilities of the digital economy in Uzbekistan.

This project showcases Uzbekistan’s commitment to not only adopting blockchain technology, but also adapting it to meet the specific needs of the country. It is a promising step in Uzbekistan’s broader vision to become more digitally inclusive, modern, and efficient.

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As part of its broader vision for a more digital, modern, and efficient Uzbekistan, the government is introducing a pilot project for a state-sponsored digital currency.

Known as HUMO, this token will be used in parallel with the Uzbek sum and is designed to integrate blockchain technology into the national financial system.

The initiative fully complies with the legislative regulations of the Republic of Uzbekistan on the circulation of crypto assets.

The use of these tokens is expected to simplify financial transactions and increase transparency in the economic system.

With the infrastructure already integrated in the HUMO payment system and the technology readily available, the adoption of this digital currency is expected to be fast and efficient.

HUMO Payment System: A Gateway to Digitalization

The HUMO payment system already serves more than 35 million cardholders in Uzbekistan, well integrated in the banking and retail ecosystem.

This mature infrastructure forms a strategic basis for the mass integration of digital assets.

The government hopes that by linking digital currencies with familiar systems, it will accelerate public acceptance and change the way everyday payments are made.

This initiative is not only about technology, but also about creating a payment system that is faster, cheaper and accessible to all levels of society.

By reducing transaction costs and speeding up the payment process, HUMO is expected to improve the efficiency of the public sector and the economy as a whole.

Technical Foundations and Use Cases

Developed by local Web3 company Asterium, with blockchain infrastructure support from Broxus, HUMO combines technologies like Ethereum Virtual Machine (EVM) and TON Virtual Machine (TVM), with Tycho protocol providing high load, scalability, and low cost transactions.

This hybrid approach merges the strengths of Ethereum and Broxus’s TON blockchain.

The token is planned to be launched on the HUMO chain, a blockchain developed by Broxus specifically for this project.

The main use cases of HUMO include enabling instant payments with reduced transaction costs. This is particularly relevant for improving the efficiency of public services and the financial sector, ensuring that every transaction is done quickly and securely.

In addition