Turkey will start piloting a formerly concealed digital currency in the 2nd half of 2021, the nation’s primary central lender Naci Ağbal informed members of parliament Friday.
“There is an R&D project initiated on digital money. Currently the conceptual phase of this project has been completed. We aim to start pilot tests in the second half of 2021.”
Ağbal’s surprise remarks location Turkey on the fast lane to a reserve bank digital currency (CBDC). Turkey rarely divulges any digital currency aspirations; The Bank for International Settlements (BIS), understood in financial circles as the “bank for central banks,” does not even record Turkey as having an active CBDC job in its running database.
Yet Turkey is now angling to surpass lots of better-known CBDC jobs. Although 80% of reserve banks are thinking about CBDC according to the BIS, just a handful – Sweden, China, the Bahamas – have actually advanced to pilot phase/soft launch.
The information of Turkey’s own CBDC job are dirty at finest. Local crypto outlet Koin Bülteni reported in September that the reserve bank was employing specialists for its digital currency research study and advancement group.
Among the subjects of obvious interest: blockchain, cryptography and huge information.
Read more: https://cryptopress.network/turkey-to-pilot-digital-currency-in-2021-says-central-bank-governor/