April 17, 2021

Turkey works on digital currency

Turkey works on digital currency

Turkey is working on a national digital currency based on blockchain technology. Resmi Gazete, The official journal of Turkey, published on Monday a document stating that testing the digital lyre should be completed by the end of 2020.

The digital lira will be issued under the leadership of the country's central bank in order to strengthen the Turkish economy.

The main goal is to create a financialsectors with a strong institutional structure, which could meet the needs of the real sector in financing at low costs, and also offer various financial instruments for a wide base of investors through reliable institutions, the document says.

China is expected to launch soon.own digital currency. And last week, an association of more than 200 German private banks expressed a desire to create a digital euro. The US Federal Reserve is also obviously exploring how to integrate digital currencies into its calculations, as it is in search of a manager to implement the initiative.