Bank AI

<a href="https://bitcoinworld.co.in/turkish-central-bank-completed-first-phase-of-its-digital-turkish-lira/" title="Turkish Central Bank Completed First Phase Of Its Digital Turkish Lira" rel="nofollow"></a>
The Central Bank of the Republic of Türkiye (CBRT) has completed phase 1 of its digital Turkish lira.&nbsp; 
It is now planning to move on to advanced phases to carry out “more widespread pilot tests.” 
According to a recent evaluation <a href="https://www.tcmb.gov.tr/wps/wcm/connect/b2527947-27ca-41d1-8a9b-1c9a8c211682/Digital+Turkish+Lira+First+Phase+Evaluation+Report.pdf?MOD=AJPERES">report</a>, the bank is preparing for all aspects of the circulation of the CBDC.&nbsp; 
The phase 1 of the central bank digital currency (CBDC) involved preliminary tests of strategic technologies. 
“In the pilot test studies during this phase, the aim was to conduct tests at specific locations and to measure the user experience and system performance.” 
The evaluation report is a compilation of findings and assessments such as digital currency transactions, wallet application and digital identification. 
“What is important for the digital Turkish lira is to prepare a system that fully meets the requirements and principles of digital currency rather than the technology itself,” the report reads. 
The report highlighted CBRT’s digital lira efforts beginning in 2021, exploring the feasibility and implementation of a CBDC.&nbsp; 
See Also: <a class="row-title" href="https://bitcoinworld.co.in/philippines-has-plans-to-launch-central-bank-digital-currency-cbdc-as-answer-to-crypto/" aria-label="“Philippines Has Plans To Launch Central Bank Digital Currency (CBDC) As ‘Answer To Crypto’” (Edit)">Philippines Has Plans To Launch Central Bank Digital Currency (CBDC) As ‘Answer To Crypto’</a> 
In December 2022, the central bank successfully executed the first payment transaction on the digital Turkish lira network. 
In September 2023, a Chainalysis research showed that Turkey’s crypto adoption rate had skyrocketed from 16% to 40%. 
<h3 id="span-style-font-weight-400-digital-turkish-lira-to-enters-phase-2-span">Digital Turkish Lira To Enters Phase 2</h3> 
The central bank noted that it would continue with the research and development (R&amp;D) activities through following phases.&nbsp; 
<figure id="attachment_66596" aria-describedby="caption-attachment-66596" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class=" wp-image-66596" src="https://bitcoinworld.co.in/wp-content/uploads/Phases-413x300.png" alt="" width="486" height="353" srcset="https://bitcoinworld.co.in/wp-content/uploads/Phases-413x300.png 413w, https://bitcoinworld.co.in/wp-content/uploads/Phases-689x500.png 689w, https://bitcoinworld.co.in/wp-content/uploads/Phases-826x600.png 826w, https://bitcoinworld.co.in/wp-content/uploads/Phases-768x558.png 768w, https://bitcoinworld.co.in/wp-content/uploads/Phases-1536x1115.png 1536w, https://bitcoinworld.co.in/wp-content/uploads/Phases-160x117.png 160w, https://bitcoinworld.co.in/wp-content/uploads/Phases.png 1540w" sizes="(max-width: 486px) 100vw, 486px">
 <figcaption id="caption-attachment-66596" class="wp-caption-text">
 Project Phases
 </figcaption>
</figure> 
&nbsp; 
Furthermore, the upcoming phases will explore conversions between forms of CBDC, smart payments, offline payments, legal and economic dimensions. 
“In the second phase, the Digital Turkish Lira Collaboration Platform will be expanded with the involvement of new participants, and pilot tests of different scenarios will be conducted.” 
However, the CBRT is yet to finalize the architecture and design of the digital lira.&nbsp; 
It is looking for possible design options and whether these options meet the economic, legal and fiscal requirements for CBDC. 
“Following the assessments, a decision will be made on its circulation,” it added. 
<blockquote>
 Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
</blockquote> 
#Binance #WRITE2EARN 
The post <a href="https://bitcoinworld.co.in/turkish-central-bank-completed-first-phase-of-its-digital-turkish-lira/">Turkish Central Bank Completed First Phase Of Its Digital Turkish Lira</a> appeared first on <a href="https://bitcoinworld.co.in">BitcoinWorld</a>.

Turkish Central Bank Completed First Phase Of Its Digital Turkish Lira

Obsah

ItsBitcoinWorld

Ďalšie články zverejnené 22. 2. 2024

BlockDAG Outshines GFOX Presale Smog’s Surge with 3000% Potential

Pre-Halving Surge Expected: Betting on Bitcoin’s Rise

Exploring the Storj Platform: A Guide to Acquiring STORJ Coin

Bitcoin takes a dip: What’s behind the slump?

Best Crypto Paper Trading Apps and How to Practice Trading in 2024

Nvidia Flexes 769% Increase in Net Income, These AI Crypto Tokens Soar

Pripojte sa k nášmu bezplatnému bulletinu a získajte denné aktualizácie kryptomien!