Pilot tests of Turkey’s national digital currency (CBDC) will begin in the second half of 2021, Naci Ağbal, head of the central bank, said, according to Koin Bülteni.
Speaking to the Planning and Budget Committee of the Grand National Assembly of Turkey, he said:
“A research and development project on digital currencies has been initiated. The conceptual phase has been completed. We plan to begin pilot tests in the second half of 2021.”
The publication recalled that in early September the Turkish central bank’s Office of Financial Innovation posted a vacancy for ten experts for its CBDC R&D group. It warned applicants that they could face questions in blockchain, big data, cryptology, container visualization, financial mathematics and digital signal processing.
What is central bank digital currency (CBDC)?
In November 2019, President Recep Tayyip Erdoğan instructed the government to complete the pilot tests of the digital lira in 2020.
Earlier, the BIS named among the leaders in CBDC development China, Sweden and Canada.
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