In the 2022 Presidential Annual Program prepared by the Ministry of Treasury and Finance and the Strategy and Budget Directorate, it was stated that the blockchain-based digital Turkish lira will be put into practice in 2022.
According to the “Presidential Annual Program for the Year 2022” published in the Official Gazette, advanced pilot tests with broad participation will be conducted.
According to the economy reform calendar announced by Treasury and Finance Minister Lütfi Elvan in March, the legal infrastructure of the digital Turkish lira will be ready by the end of 2021.
In line with the first phase pilot findings of the Central Bank Digital Turkish Lira Research and Development Project, which was revealed by the work of the Central Bank of the Republic of Turkey, the Ministry of Treasury and Finance and TUBITAK, advanced pilot tests with more widespread and broad participation will be carried out in the report.
In the report, it was emphasized that research and development studies will continue for the compliance of existing and advanced technologies with the digital Turkish lira requirements, and research, development and testing studies will be carried out by creating a technological infrastructure for programmable money and offline payments caiman services. In the program, it was stated that the integration of the digital Turkish lira system with other related systems will also begin.
The CBRT created a platform for the digital Turkish lira
The Central Bank of the Republic of Turkey announced that it has signed a memorandum of understanding with ASELSAN, HAVELSAN and TÜBİTAK-BİLGEM for the digital lira trials and development process.
Emphasizing that the platform for the project is planned to be expanded with new participations, the CBRT gave the following statements;
CBRT said that in line with the results obtained, more widespread and broad participation pilot tests will be carried out, advanced phases will be passed, tests will be carried out on topics such as blockchain technology, use of distributed structures in payment systems, integration with instant payment systems.
CBRT Chairman Kavcıoğlu stated in the inflation report in July that the studies on digital currencies continue intensively; He said that they would start piloting around September. With the new regulation announced in April, the Central Bank prohibited the direct or indirect use of crypto assets in payments.