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Start Trials of
Central Bank of Turkey Digital Currency
The Turkish Central Bank continues to conduct the second round of studies on the Central Retail Bank's (CBDC) digital currency after the completion of the first phase.
According to the official statement
The second round of testing will focus on interoperability of
the proposed CBDC system with current payment infrastructure.
The plans indicate that Turkey's Central Bank may include additional
participants in the pilot programme, including commercial
banks and payment service providers.
The Turkish Central Bank
is scheduled to begin this work in 2024.
He revealed that he would explore the prospects for offline uses of the Central
Bank's cryptocurrency (CBDC) system in a bold attempt to
promote financial inclusion.
Technical details of
the offline feature are not mentioned in the ad, but there
are widespread expectations that the regulator
may adopt a pre-loaded card strategy.
Turkey's central bank
says it will place special emphasis on
digital lira testing in real-world scenarios beyond interoperability
and offline uses to detect any potential performance problems.
The second round of
experiments is expected to address the legal and economic implications of
the Central Retail Bank's issuance of a digital currency.
The next phase of the Central Digital Bank (CBDC) currency trials will try to
resolve digital lira questions while testing strategies for a smooth launch.
The Turkish Central Bank
continues to conduct the second round of studies on
the Central Retail Bank's (CBDC) digital currency
after the completion of the first phase.
According to
the official statement, the second round of testing will focus on
the interoperability of the proposed CBDC
system with current payment infrastructure.
The plans indicate that Turkey's Central Bank may include additional participants
in the pilot programme, including commercial
banks and payment service providers.
The Turkish Central Bank
is scheduled to begin this work in 2024.
He revealed that he would explore the prospects for offline uses of
the Central Bank's cryptocurrency (CBDC) system in a bold attempt to
promote financial inclusion.
Technical details of the offline feature are not mentioned in the ad, but there are
widespread expectations that the regulator may adopt a pre-loaded card strategy.
Turkey's central bank says it
will place special emphasis on digital lira testing in real-world scenarios
beyond interoperability and offline uses to detect
any potential performance problems.
The second round of
experiments is expected to address the legal and economic implications of
the Central Retail Bank's issuance of a digital currency.
The next phase of the Central Digital Bank (CBDC) currency trials will try to
resolve digital lira questions while testing strategies for a smooth launch.
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