President Recep Tayyip Erdogan asked the government to complete the development of the CBDC digital currency. The asset will be tied to the lira, according to the resmigazete resource.
CBDC will be applied for quick payments
The president’s annual program indicates when cryptocurrencies should be completed. The Turkish leader instructed to complete and launch the project as early as next year.
The Central Bank of the country and the Scientific and Technological Research Council of Turkey (TUBITAK) will become partners in the process of developing a digital asset. Currency will be a tool for creating and making quick payments.
The Turkish government wants to strengthen the country's economic position. The creation of a national cryptocurrency will help strengthen the financial infrastructure of the state. Istanbul can turn into a world center of finance. The head of the country also noted that the next stage of development is the use of blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details technologies to improve the functioning of the transport and administrative industries.
Interesting in the section: Financial geography: the cryptocurrency revolution of France
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