The Central Bank of the Republic of Turkey (CBRT) has published a comprehensive evaluation report of the outcomes of the tests conducted as part of the first phase of the Digital Turkish Lira Project.
In the press release No. 2022-55 dated December 29, 2022 on the Usage of Digital Turkish Lira; within the scope of the first phase of the Digital Turkish Lira Project being carried out by the Central Bank of the Republic of Turkey (CBRT), it was announced that the findings obtained as a conclusion of the tests will be shared with a comprehensive evaluation report.
It was noted that within the framework of the first phase pilot test studies, it was aimed to carry out pilot application tests in specific locations and to measure the system performance through user experience as a result of the tests. In this context, the anticipated Digital Turkish Lira First Phase Evaluation Report (English version) has been published and presented to the attention of the public.
It was emphasized that the Evaluation Report shares the findings of the R&D activities carried out within the CBRT and the first phase of the Digital Turkish Lira Collaboration Platform, as well as the highlighted approaches adopted in the project.
The content of the report is as follows;
- Introduction
1.1 What is Central Bank Digital Currency?
1.2 Opportunities of Digital Currency
- Central Bank Digital Currency Necessities, Principles and Approaches
2.1 Basic Necessities
2.2 Design Principles
2.3 Current Approach
- Digital Turkish Lira Design
3.1 Digital Identity System
3.2 Digital Money System
3.3 Abstraction Layer
3.4 Service Layer
3.5 Wallet Application
- Findings and Evaluations
4.1 Privacy
4.2 Financial System
4.3 Technology
4.4 Digital Identity
- Progressive Phases
5.1 Transformations between Forms of the Turkish Lira
5.2 Smart Payments
5.3 Offline Payments
5.4 Legal and Economic Dimensions
- Conclusion
Attachment
Dijital Identity Models
The 63-page “Digital Turkish Lira First Phase Evaluation Report (English version)”, which has a very comprehensive content, can be accessed by clicking here.
