Kazakhstan central bank recommends a phased CBDC rollout between 2023-25 - 0 views
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John Kiff on 18 Dec 22The National Bank of Kazakhstan (NBK) and the Payment and Financial Technology Development Center of the Bank of Kazakhstan (NBK) published a report on the results of the study on the need to introduce the digital tenge. It is reportedly recommending making the central bank digital currency (CBDC) available as early as 2023 with a phased expansion of functionality and introduction into commercial operation until the end of 2025. Unfortunately the report won't be available in English until later this week, at which point I'll be able to verify some of the facts and plans. For example, the report is saying that a pilot was just wrapped up, but it's unclear whether it's a pilot of proof of concept, since I don't know the composition of the test users. If they're pulled from the general public, it is a pilot, but if the test subjects are limited to central bank staff, it's a proof of concept by my taxonomy.