Kazakhstan: an MNBC will be created between 2023 and 2025

MNBCs (Digital Central Bank Currencies) are in the heart many discussions. For Kazakhstan, things are well advanced, and their currency should arrive in 2023.

An MNBC to help the country evolve.

Changpeng Zhao, CEO of Binance had it announcement a few weeks ago. The MNBC of Kazakhstan would use the blockchain of its platform, the BNB Chain.
Today, the set up is launched, and will be progressive, spread over a period of 3 years. Indeed, the currency will be released next year, and its development and democratization will take place over the following years.

” Account Given the need for technological improvements, infrastructure preparation, development of an operating model and regulatory framework, it is recommended to ensure a phased implementation over three years”.

Document uploaded by Kazakhstan.

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  Kazakhstan

The main purpose of this implementation is to help improve the country’s financial inclusion, promote competition and innovation. For Kazakhstan, this gradual start would make it possible to increase the State’s competitiveness compared to neighboring countries.

The country is also not closed to developments concerning cryptocurrencies, in general. Despite a very tough policy, particularly with regard to the mining of Bitcoin, Kazakhstan wants to work on crypto / cash conversion mechanisms in order to popularize the use of digital currencies as much as possible, whether state-owned or not.

Undoubtedly, the coming years will see the emergence of MNBCs all over the world. The Banque de France itself work on the subject. Real good evolution of our currency, or additional means of mass control what the citizen does with his money? We will have to wait a few more months to find out in which direction this new currency is heading.

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