"Turkey has also started testing their CBDC, after a while who will follow?"
As part of the trial phase for the central bank digital currency (CBDC), the Central Bank of Turkey has for the first time successfully made a payment transaction through the Turkish Lira Network.
The bank will continue testing CBDC in the first three months of 2023 in order to establish the use of ledger technology and technology integration through a fast payment system.
Apart from that, the Bank of Turkey intends to expand the Turkish Lira Collaboration Digital Platform to include selected banks and more effective phase-based financial technology businesses.
It would also like to be informed that in 2023, the bank will prioritize the study of the Turkish Digital League's economic and legal framework as one of the additions to its technology needs.
While the European Central Bank is currently in the process of incorporating decentralized ledger technology into its payment system.
This is because the Federal Reserve (Fed) of the United States (US) has previously issued a report on the advantages and disadvantages of CBDC.
On the other hand, Kazakhstan, Japan, Indonesia and India are among the countries that are exploring and exploring CBDC supported by their respective central banks.
