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Blockchain

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.

Source: Web Tekno

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