Digital Tenge: Kazakhstan makes CBDC?implementation plans
The digital Tenge is not planned to replace cash or cashless payments, but may serve as an alternative
The trend of Central Bank Digital Currencies is spreading across the world like wildfire it seems, now reaching Kazakhstan. The National Bank of Kazakhstan made it clear in a report from Wednesday, that the digital Tenge is thought to be an alternative to analogue money, not a replacement.
The goal of the project is to increase competitiveness and stability of the market, a move in the footsteps of major Asian ?countries, including Thailand, Japan and most notably China.
On the 3rd of May, the US also launched a digital dollar project. So far, these? digital currencies for various countries are still ongoing a testing phase. The only fully implemented CBDC in use is the Sand Dollar, an innovation from the Bahamas.
Higher monitoring possibilities create opportunities to fight the high level of corruption of Kazakhstan, while the country states that it will strive to maintain a high level of privacy.
AIBC UAE?will take place on the 25th to 26th May, 2021, in the emirate of Dubai. The event will bring together key brands and individuals from the converging sectors of AI, blockchain, IoT, Quantum Tech to discuss and shape the future of emerging tech.
It is one of the leading events globally for blockchain, AI, crypto, and other emerging technologies, and gathers together an elite selection of delegates, policymakers and thought leaders from across the globe. Such international recognition has helped propel AIBC Summit become a favourite on the world circuit for emerging tech conferences and expos.
