Digital Turkish Lira has been around for a long time Central Bank of the Republic of Turkiye (CBRT) is on the agenda. It is stated that this digital currency is not only a means of payment, but also an important step in Turkey’s integration process into the digital economy. Sputnik Türkiye has shared details about the digital Turkish lira.

For digital Turkish lira by 2025 It is stated that second phase studies will be conducted, which will continue with more extensive pilot testing. Digital Turkish Lira stands out for its innovative features such as offline payment and secure digital identity.

Digital Turkish Lira will be a payment instrument

CBRT, Digital Turkish Lira plans to use it as a means of payment for the digital economy. This money will be an alternative to physical money. For example, the lira, whose financial inclusion is increasing, will become a digital alternative to physical money. Unlike physical currency It will provide a new payment infrastructure for economic activities.

Digital Turkish LiraIt will have a different structure than cryptocurrencies and will be a legal tender and national currency. Naturally, it will not have a decentralized structure like cryptocurrencies, but a centralized structure supported by the state.

The CBRT had taken steps to develop the Digital Turkish Lira as a direct and independent solution alternative for digital payments. The Central Bank has completed the first phase for the Digital Turkish Lira. These investigations in 2023 It had started. In this phase, the technical working environment was prepared where the work will be done, the infrastructure for the tests was prepared, the installation of the distributed ledger platform, the design and development of smart contracts that will work with the distributed ledger platform, the Digital Turkish Lira System integration of prototype digital identity systems and the digital wallet application were developed.

In first phase studies ASELSAN, HAVELSAN and TÜBİTAK The Digital Turkish Lira Collaboration Platform was established with strategic partners such as.