Digital Turkish Lira Collaboration Platform was established with the participation of Central Bank of the Republic of Turkey (CBRT), ASELSAN, HAVELSAN, and the Scientific and Technological Research Council of Turkey (TÜBİTAK) Informatics and Information Security Research Centre. The bilateral Memorandums of Understanding were signed on 15 September.
For the first phase, the bank will create a prototype “Digital Turkish Lira Network” and conduct limited, closed-circuit tests with the assistance of its new technology partners. Based on the results of the tests, advanced test phases will be following with wider participation.
The project is expected to include tests on blockchain technology, the use of distributed ledgers in payment systems, and integration with instant payment systems.