How Will We Pay for Real Estate in the Nearest Future? Digital Money!

More reliable than crypts will be the state digital currency.

Money on the phone instead of paper in a wallet is our common future!

Türkiye develops digital state currency!

This is the project of the Central Bank of Türkiye, part of the global tendency to create digital versions of national currencies, such as digital yuan in China or digital euro in the EU.

Against the backdrop of the active development of blockchain technologies and the growth of the popularity of cryptocurrencies, back in 2020, Türkiye announced its intention to create its own digital currency. This is necessary to improve financial infrastructure and ensure additional safety of payments, to reduce the level of the shadow economy.

What is a digital lira, and how is it different from the usual one?

This is an electronic version of the Turkish lira, which will be supported by the Central Bank of Türkiye. It will become a safer, affordable and convenient form of money, which can be used for both retail and large payments.

It operates on the basis of blockchain technologies, ensuring a high level of safety and transparency of transactions.

A unit of accounting, token is a digital certificate of ownership of your digital money.

What is the difference from bitcoin and other crypts?

Cryptocurrencies are decentralized. In contrast, the digital TL will be centralized. The release and control of it will be carried out by the Central Bank of the country. Blockchain acts as a tool for ensuring safety, transparency and stability of the system. The Central Bank 100% controls the issue, transactions, and regulates the currency, which distinguishes it from traditional cryptocurrencies.

Volatility does not allow cryptocurrencies to become a full -fledged payment tool. And with the national crypt, everything is different. Digital TL is not a crypt in the classical sense, its cost is not determined by demand and supply in the open market. It is completely controlled by the central bank. Digital TL is a combination of innovative technologies with reliability and stability provided by state institutions.

Digital TL will be used for everyday payments, online purchases and cross-border transactions.

How can people keep it?

As well as a crypt – in digital wallets in the phone. Paying everything using applications. Technically, your liras are a unique digital code in an electronic wallet on the Platform of the Central Bank.

In 2024, the digital lira is at the stage of pilot testing in cooperation with private banks and technological companies, with the participation of the Council on Scientific and Technological Research by Türkiye, Aselsan and Havelsan. It will become available for wide use over the next years.

Digital TL, like other digital currencies of central banks, is supported by the state currency of Türkiye – the Turkish TL. Behind each unit of a digital TL is the equivalent amount of ordinary TL, which are stored on the accounts of the Central Bank of Türkiye. That is, the digital TL has the same value as physical money, and depends on the general economic situation in the country.

National digital currencies (CBDC – Central Bank Digital Currency) are in different countries:

China, leader in the development and implementation of national digital currency. Digital Yuan (E-CNY) has already been introduced and actively tested.

Bahami Islands, Sand Dollar is introduced. By the way, the Bagams became the first country to officially launch its digital currency in 2020 to simplify financial transactions on the archipelago, especially in remote regions where access to banking services is limited.

Russia, a digital ruble at the testing stage, can be used even without the Internet. Ukraine, Belarus, Georgia, Kazakhstan also plan to implement, develop and test it.

The European Union has a digital euro at the stage of research and development.

Nigeria and some small countries and the territories of the Caribbean poured digital money.

At the stage of pilot projects: South Africa, Thailand, Malaysia, Singapore, China, Myanmar, Sweden, Kazakhstan, Saudi Arabia.

At the development stage of 21 countries, including such countries as India, Indonesia, Germany, France, Spain, Italy, Iran, Türkiye, Brazil, Canada, Australia.

37 countries are investigating this issue, including Morocco, Tunisia, Mexico, Peru, Colombia, Chile, Great Britain.

Refused: Argentina, Uruguay, Ecuador, Azerbaijan, Finland, Denmark, DPRK, Egypt, Senegal.

By the way, the United States is the only country from the G20 that has not yet launched its Central Bank currency.

Many countries strive to introduce digital currencies to improve their financial systems and adapt to changes in the world economy. Türkiye is from the first.

The digital currency is convenient to perform cross-border and foreign exchange operations, that is, payments from different countries. Including for the purchase of foreign real estate!

By the way, most of the transactions are now taking place with crypto, this is a light, as fast as possible to invest in real estate. Contact for consultation.