Erdogan to Order CBDC Test to be Finished in 2020

Strengthening financial sector infrastructure is one of the key goals of upcoming digital lira
06 November 2019   359

Turkish President Recep Tayyip Erdogan instructed the government to complete pilot tests of the digital lira from the central bank in 2020, the Cointelegraph reports citing Resmi Gazete.

Among the goals of the Turkish CBDC are:

  • strengthening financial sector infrastructure;
  • reduction of financing costs of the real sector of the economy;
  • expansion of financial instruments for investors;
  • supporting Istanbul's desire to become an attractive global financial center.

Earlier, the country's authorities announced the creation of a national blockchain platform.

Cobalt & Lithium Supplies to be Tracked With DLT

The platform will be created by the Everledger together with Circulor using Hyperledger Fabric
26 March 2020   841

Everledger, a British startup, has partnered with Circulor to develop a platform based on the Hyperledger Fabric blockchain to track supply chains of cobalt and lithium.

Everledger specializes in using blockchain to combat counterfeiting of precious stones, in particular diamonds. The company’s management said it intends to expand its business using blockchain to control the supply of rare minerals used in the production of batteries.

Well-known carmaker Mercedes Benz is already using Circulor technology to track its supply of cobalt and its carbon footprint. Circulor and Everledger share a similar concept - with the help of the blockchain they control the observance of social and environmental standards in mining. Therefore, startups decided to develop a joint product.

Everledger co-founder Leanne Kemp and Circulor CEO Doug Johnson-Poensgen said their solution will work on the Hyperledger Fabric blockchain. The possibility of interacting with IBM is also being discussed.

Poensgen added that the platform will be used not only to track cobalt production in the Democratic Republic of Congo, but in different regions of the world. For example, lithium mining in the Atacama desert leads to water pollution, so the solution on the blockchain is aimed at preventing environmental disasters.