Announced when ‘digital Turkish lira’ tests will begin
- October 25, 2022
- 0
As the blockchain world continues to rapidly emerge in all areas of our lives, governments have also increased their investment in this area. If Turkey Being one of
As the blockchain world continues to rapidly emerge in all areas of our lives, governments have also increased their investment in this area. If Turkey Being one of the leading countries in blockchain He started working a long time ago.
In contrast, while startups like Togg strive to bring blockchain-based systems into our lives, they will be developed and released directly by the government. Digital Turkish Lira project was included. Today there is some important news about the Digital Turkish Lira.
Tests digital Turkish lira to start in 2023:
The Presidency of the Republic of Turkey has published the Presidential Annual Program for 2023. Some explanations about the Digital Turkish Lira were also included among the plans for 2023 in the program. According to shared schedule Tests for the digital Turkish lira will begin in 2023.
Digital Turkish lira information shared by the presidency:
Measure 249.5: Blockchain-based central bank digital money will be implemented.
- In accordance with the pilot results of the second phase of the Central Bank Digital Turkish Lira Research and Development Project, tests will be launched for the use of Digital Turkish Lira for payments.
- Integration studies of digital Turkish lira systems with digital identity and FAST systems will be completed under research and development.
- In the context of large-scale digital currency studies, research, development and testing activities will be conducted with banks. “
What is a digital Turkish lira?
Digital Turkish lira will become the official currency of Turkey in the digital environment. The unit can be easily converted to other currencies such as any digital currency, can be produced and distributed at very low cost. Money can also be processed between banks.
So, what is the difference between digital currency and cryptocurrency?
Unlike cryptocurrencies, digital money is issued and controlled by an authority. That is, it has a completely centralized structure. On the other hand, cryptocurrencies are managed in a decentralized structure and they have no firm authority or government behind them. In summary, cryptocurrencies are open source software developed by the community; Digital currencies are software released and managed by a particular developer.
Since digital money has an authority, transactions made with this currency are also: only with the permission of the authority makes. Therefore, digital currency transactions can be tracked and not kept confidential. Transaction information is stored in centralized networks.
Pilot applications of the Digital Turkish Lira started:
Source: Web Tekno
Alice Smith is a seasoned journalist and writer for Div Bracket. She has a keen sense of what’s important and is always on top of the latest trends. Alice provides in-depth coverage of the most talked-about news stories, delivering insightful and thought-provoking articles that keep her readers informed and engaged.
