Digital Turkish Lira Cooperation Platform Established

Central Bank of Turkey Republic (CBT), announced the start of digital Turkish lira studies a while ago. Now there has been an important development on this issue. For the first time in history, a concrete step has been taken for the digital version of the Turkish lira. with the CBRT, ASELSAN, HAVELSAN and TÜBİTAK-BİLGEM. collaborations made. With the collaborations madeDigital Turkish Lira Cooperation Platform” was established.

Digital Turkish Lira Cooperation Platform, Turkish lira about the digital version will carry out research and development work. The results of the first phase of the work to be done will be announced in 2022. Thus, an important step will be taken for the digital Turkish lira. In the next process, probably citizens will also use digital Turkish lira. acquaintance they will have the opportunity.

The written statement of the CBRT on the subject is as follows:

The Central Bank of the Republic of Turkey (CBRT) is responsible for the circulation of the digital Turkish lira, which is complementary to the existing payments infrastructure. potential their contribution continues the research. The process that started with the completion of the proof of concept study within the scope of the Central Bank Digital Turkish Lira Research and Development (R&D) project, with the participation of technology stakeholders is moved to the next stage.

The technological research, development and testing processes of the Central Bank Digital Turkish Lira R&D project will be carried out in close cooperation with the participation of technology stakeholders. In this direction, the Central Bank; ASELSAN, HAVELSAN and TÜBİTAK-BİLGEM signed bilateral Memorandums of Understanding and established the “Digital Turkish Lira Cooperation Platform”. In the light of the findings of the first phase, where the pre-application tests of the strategic and critical technologies related to the project will be made, the platform will be held with new participations. expanding is planned.

Within the scope of the first phase pilot implementation studies, the prototype “Digital Turkish Lira Network” will be established and narrow-scope and closed-circuit pilot application tests will be carried out with technology stakeholders. In line with the results obtained, further phases will be initiated where more widespread and broad participation pilot tests will be carried out. Digital Turkish Lira in topics such as blockchain technology, use of distributed structures in payment systems, integration with instant payment systems R&D project It is also planned to carry out tests that may require diversity.

CBRT for the circulation of the digital Turkish lira there is no final decision. All studies are carried out on the principles of experimental R&D activities. After the capacity measurements of different technological alternatives are completed and the trials of architectural setups are finalized, the current technologies It is aimed to determine whether the digital Turkish lira can meet the economic, legal and financial requirements..

First phase results are available upon completion of the tests. in 2022 will be shared with the public.