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Turkey’s Digital Lira to Launch by 2020

Turkey’s Digital Lira

Digital Lira, Turkey’s blockchain-based currency, will be launched by the end of 2020, according to the 2020 Annual Presidential Program — as President Recep Tayyip Erdogan has directed.  

The national central digital currency (CBDC) has been tested through the government’s instant payment pilot project and the government expects the testing to be completed in 2020. The project is in collaboration between the Turkish central bank and the Scientific and Technological Research Council of Turkey (TUBITAK). 

The report says the introduction of the digital lira in 2020 is part of Turkey’s goal of strengthening the local economy. It is also in the country’s 2019-2023 economic roadmap that was released in July 2019. 

Apart from the digital lira, Turkey also plans to utilize blockchain technology for transportation and customs as well as public services and public administration. 

Last September, Ankara announced plans to use blockchain technology in public administration.

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