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Kazakhstan's central bank reports results on CBDC pilot project
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Kazakhstan, the country behind one of the largest sources of Bitcoin mining hash power, has released the results of a pilot program for its digital tenge.
According to a Wednesday report, the National Bank of Kazakhstan, or NBK, said it had confirmed the possibility of implementing a retail central bank digital currency, or CBDC, based on distributed ledger technology. In addition, the central bank tested how Kazakhstan’s citizens might use a digital tenge for offline payments as well as its programmability.
In a series of hypothetical scenarios, the central bank tested how a CBDC could be used between second-tier banks and other external participants. The tests also explored how a digital tenge would work for cross-border transactions
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