Central Bank shares its first report on “Digital Turkish Lira”
December 31, 2023
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As cryptocurrencies gain significant value and reach millions of people, many financial institutions are emerging official digital currency He started working on his units. One of these was
As cryptocurrencies gain significant value and reach millions of people, many financial institutions are emerging official digital currency He started working on his units. One of these was the Central Bank of the Republic of Turkey. CBRT shared its first report on the project.
As for the first phase, the statement on the CBRT’s official website reads: “As part of the first phase pilot test studies, pilot application tests have been carried out at selected locations and as a result of the tests Measuring user experience and system performance meantExpressions have been used.
What is Central Bank Digital Currency?
The Central Bank Digital Currency can be defined in its simplest form as the digital form of a sovereign country’s money.
When Central Bank Digital Currency (hereinafter referred to as digital currency) is mentioned, crypto assets may come to mind; However, digital money is not a crypto asset. Economically, digital money is the digital form of banknotes used as national currency. For example, what is meant by digital Turkish lira is the digital form of the Turkish lira. Its unit is the Turkish lira, as in the current currency form
Opportunities that digital currency brings
Financial technologies ecosystem
Center for Financial Technology
Continuous and instant financial data
Smart payments
Offline payments
Disaster-proof digital payments
You can consult the full evaluation report of the digital Turkish lira in the first phase published by the CBRT by clicking here.
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Jason Root is a blockchain enthusiast and author at Div Bracket. He provides comprehensive coverage of the latest developments in the world of blockchain, offering readers a unique perspective on the industry and its potential for revolutionizing various industries.