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The digital Turkish lira will be implemented next year

According to the Presidential Annual Program, research and development studies will continue to ensure the compliance of existing and advanced technologies with digital Turkish lira requirements. Blockchain-based digital Turkish lira is aimed to be implemented next year.

According to the compilation of the AA correspondent from the Presidential Annual Program for the Year 2022, cooperation between countries will be established and studies will continue in order to develop alternative money and payment systems that will be accepted in the international trade system.

In line with the first phase pilot findings of the Digital Turkish Lira Research and Development Project of the Central Bank of the Republic of Turkey (CBRT), advanced pilot tests with more widespread and broad participation will be conducted. Research and development studies will continue for the compliance of existing and advanced technologies with digital Turkish lira requirements.

Research, development and test studies will be carried out by creating a technological infrastructure for programmable money and offline payments layer services. Integration of the digital Turkish lira system with other related systems will begin.

BILATERAL MEMORY OF RECONCILIATIONS SIGNED WITH ASELSAN, HAVELSAN AND TÜBİTAK-BİLGEM

To this end, the Central Bank signed bilateral memorandums of understanding with ASELSAN, HAVELSAN and TUBITAK-BILGEM last month, and the “Digital Turkish Lira Cooperation Platform” was created. In the light of the findings of the first phase, in which the pre-application tests of strategic and critical technologies related to the project will be conducted, the platform is planned to be expanded with new participations.

Within the scope of the first phase pilot implementation studies, the prototype “Digital Turkish Lira Network” will be established at the CBRT, and narrow-scope and closed-circuit pilot implementation tests will be carried out with technology stakeholders. It is also planned to carry out tests that may require diversity within the scope of the digital Turkish lira R&D project on topics such as blockchain technology, use of distributed structures in payment systems, integration with instant payment systems.

The results of the first phase will be shared with the public after the tests are completed.

BLOCKCHAIN INFRASTRUCTURE WORKS IN TRANSPORTATION AND CUSTOMS SERVICES WILL BE COMPLETED

In addition, necessary legal and physical infrastructure works in transportation and customs services for the dissemination of blockchain applications will be completed.

Application examples of blockchain technology in customs and logistics processes will be examined, and evaluation and analysis studies and projects will be carried out for its applicability and integration with existing systems.

Source: Sabah / Translated by Irem Yildiz

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