Cryptocurrency exchange has been on the radar of many countries, including Turkey, for a long time. Because this is the next stop of the shopping adventure, where people progress from barter to paper money. Countries that are involved early in this process will also be in an advantageous position. As of today, the testing process for the digital Turkish Lira has been started.
What is the Digital Turkish Lira and how is it used?
Digital Turkish Lira (DTL) is a cryptocurrency developed by the Central Bank of the Republic of Turkey (TCMB) with a technology called blockchain. Although it has not been released to the market yet, its value is clear. According to the statement, DTL will be fixed to 1 TL.
In the statement made today, it was said that in line with the second phase pilot findings of the Central Bank Digital Turkish Lira Research and Development Project, the use of DTL for payments has reached the testing phase. The first purchase will be made in 2023.
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Of course, that’s not all. In this process, integration studies of DJT systems with digital identity and FAST systems will be carried out within the scope of research and development. So we will be able to use the new money in FAST payments as well.
HAVELSAN’s expert staff and servers will undertake the security, protection and data analytics of DTL. Therefore, steps such as possible attack detection, event monitoring, situation analysis and leak detection will be taken here.
Of course, it is not yet known whether it will be traded on crypto currency exchanges. However, if there is a plan to fix 1 DTL to 1 TL, it may not attract the attention of stock market investors. On the other hand, although its value is constantly decreasing due to the exchange rate, it seems relatively more stable when compared to altcoins.
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