Turkey is about to finish testing a digital version of the Turkish lira by the end of 2020.

The actual testing will begin next year.

The central bank digital currency is part of the 2020 presidential program.

Turkish President Recep Tayyip Erdogan reported the plans on Monday.

The central bank digital currency is part of governments’ plans to boost the local economy.

In addition, the Government of Turkey will develop a software platform for instant payments using the digital lira that will work with the Central Bank, while the project will also involve the National Innovation Agency “TUBITAK”.

The inclusion of a central bank digital currency in Turkey’s 2020 annual presidential program is the result of a pre-designed economic roadmap.

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Besides the digital lira, the country is applying blockchain technology in the transportation and customs sector as well as in public services and government administration.

Strengthening the Turkish economy is of high importance to President Erdogan and the government.

so witnessed The country is losing its national currency by 60% of its value compared to ten years ago.

During the summer of 2018, the lira lost much of its value due to economic sanctions imposed by the United States.

As a result, Erdogan’s Justice and Development Party lost regional elections in June, while national elections are scheduled to take place before June 18, 2023.

Turkey Focuses on Crypto:

Blockchain innovation is not confined only to the Turkish government.

Even Turkish companies, banks and their people are interested in cryptocurrency and blockchain technology.

According to sourceAt least 20% of Turks own or plan to own one or more cryptocurrencies.

BTC Turk is the largest foreign exchange platform in Turkey and is the main sponsor of a club active in the Turkish Super Lig football league, Yeni Malatyaspor.

In addition, several Turkish banks operate together on a gold-backed trading platform.

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Two weeks ago, Huobi announced that it would provide an online portal for Turkish investors on the Turkish version of its trading platform.

It is expected that within two weeks, the CEO of Binance will speak at a conference in Istanbul.

The Turkish Capital Markets Summit 2019 will be held on November 19-20.

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