Turkish government will pilot the national digital currency by the end of 2020, reported local journal Resmi Gazete.

According to the 2020 Presidential program signed by Erdogan on November 3, a blockchain-based digital currency supported by the government is expected to strengthen the national economy.

The digital lira that will be issued by Turkish CB will be a part of a program to establish a “strong institutional structure” adopted for financial needs and to make the country a global attractive financial center The blockchain-based structure of the digital currency will provide lower costs and access to different financial instruments.

On October 30, The Association of German Banks, which includes giants such as Deutsche Bank, Credit Suisse, and Commerzbank, proposed launching a crypto-based digital euro, “to withstand the competitive pressure from the U.S.”

Turkish government will pilot the national digital currency by the end of 2020, reported local journal Resmi Gazete.

According to the 2020 Presidential program signed by Erdogan on November 3, a blockchain-based digital currency supported by the government is expected to strengthen the national economy.

The digital lira that will be issued by Turkish CB will be a part of a program to establish a “strong institutional structure” adopted for financial needs and to make the country a global attractive financial center The blockchain-based structure of the digital currency will provide lower costs and access to different financial instruments.

On October 30, The Association of German Banks, which includes giants such as Deutsche Bank, Credit Suisse, and Commerzbank, proposed launching a crypto-based digital euro, “to withstand the competitive pressure from the U.S.”