Saturday, August 13, 2022
Home Crypto News Market Turkey Will Test The National Digital Currency In 2021

Turkey Will Test The National Digital Currency In 2021

- Advertisement -
Follow-Us-On-Google-News

According to the Governor of the Central Bank of Turkey Nasi Agbal, Turkey plans to test the national digital currency in the second half of the next year 2021.

Agbal’s statement came as a surprise, previously, no one knew about the digital Lira project. Even in the records of the Bank for international settlements (BIS), there is no evidence that Turkey is working on its state-owned cryptocurrency. However, now it has become clear that Turkey has joined the race to develop a national digital currency and, as it turned out, the project is already under work and the conceptual stage of digital Lira is completed.

“We have launched a project to create digital Lira. The conceptual phase of the project has already been completed. We plan to launch pilot tests in the second half of 2021, ” Agbal said.

Detailed information about the state digital currency of Turkey has not yet been reported. In September, some cryptocurrency publications reported that the Central Bank of the country is looking for experts on blockchain and digital currencies to develop its own state-owned cryptocurrency.

Among big economies, Russia is also working on creating a digital version of the Ruble, which should help companies and citizens of Russia in making payments, and reduce payment processing costs.

At the moment, the leader in the development and implementation of digital currency is China. China has passed many stages of testing Digital Yaun. At the same time, the Chinese authorities do not position their national cryptocurrency as a replacement for global Fiat currencies.

- Advertisement -

Disclaimer

The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

Albert
Albert Brownhttps://thecryptobasic.com/
Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. As a journalist, Brown has written on several crypto-related topics that have been referenced by popular industry players like Tyler Winklevoss, Binance CZ, etc.

2 COMMENTS

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

IOG Says “Getting Things Right” Is The Priority After Cardano Investor Asked When Vasil Will Launch

  IOG has responded to ADA investors who are eager to know the exact date for the launch of the Vasil hard fork.  Input Output Global...

The Deputy Minister Of Digital Transformation Says Ukraine Should Launch A CBDC

Alex Bornyakov is in support of a digital hryvnia. In a four-tweet thread on Friday, Ukraine's Deputy Minister Of Digital Transformation, Alex Bornyakov, argues that...

Shiba Inu Lead Developer Gets A Harsh Response From “Can You Pet The Dog”

  "Can You Pet The Dog" Shuns Shiba Inu Game, Shiba Eternity As It Wants Nothing To Do With Crypto Projects. ...

Shiba Inu And BONE Becomes Top Trending Coins in Asia, USA, and Canada

Shiba Inu and Bone are trending worldwide. window.coinzilla_display = window.coinzilla_display || ; var c_display_preferences...

NOWNodes Adds Support for Shiba Inu Burn Portal Reward Token Ryoshi Vision (RYOSHI)

  The listing of RYOSHI will enable developers to build on Ryoshi Vision via NOWNode's platform. window.coinzilla_display =...

71,225 XRP Holders Now Stand With Ripple Against SEC, Deaton Says All XRP Investors Are Leaders Of XRPArmy

  The Amici attorney has commended XRP investors for their collaboration toward Ripple’s legal battle against the SEC.  ...

One Year After Burning Mechanism Launched, 2.5 Million Ethereum Worth $5B Burnt, Is ETH Becoming Deflationary?

  About 2.1% of Ethereum's circulating supply has been burned since the London hard fork. window.coinzilla_display = window.coinzilla_display...

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.