The National Gagarin News Bank of Kazakhstan reported on the results of the pilot on digital tenge

The National Bank of Kazakhstan published a report on the results of the first stage of the pilot project to introduce digital tenge.

The regulator tested the technological implementation of the blockchain platform, as well as various options for using CBDC, including emission, purchases and translations.

According to the document, the asset will be stored in a digital user wallet. He will be able to hide the details of transactions from the participants in the calculations, as well as perform operations without access to the Internet.

It is expected that digital tenge contributes to the dissemination of financial technologies, stimulates innovation in the payment industry and increase the competitiveness of the financial sector of Kazakhstan at the international level.

The decision to introduce a new asset should be made next year.

Recall that the creation of digital tenge in Kazakhstan was proposed in 2020. Then the Central Bank began to study the possibilities of introducing CBDC.

In May 2021, the head of the National Bank Yerbolat Dosayev announced the launch of a pilot project to introduce an asset in the second half of the year.

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