National Bank of Kyrgyzstan Developing Digital Som Demo Version
Kyrgyzstan to Create Demo Version of Digital Som
In a recent announcement by the National Bank of Kyrgyzstan, it has been revealed that a demo version of the digital som will be created in the country. This move is aimed at testing the prototype of the digital currency in an experimental mode known as the Sandbox.
The National Bank has received proposals from 12 interested companies to participate in the testing of the digital som prototype. These companies include Axelect, DCM, Ltd., EMTECH, Inc., FIS, Inc., G+D Filia GmbH, Knox Networks, Inc., SHOWING, Nahmii, Ltd., R3 Corda Ltd., SICPA/Nabatech Inc., TCS Quartz, Ltd., and Xiamen Huge Energy Stock Co., Ltd.
According to the statement released by the National Bank, the selection of a CBDC supplier will be based on criteria such as blockchain platform technology, innovative potential, technological reliability, security of proposed solutions, speed of payments, and the ability to integrate effectively with existing financial infrastructure. The chosen supplier will be responsible for creating the demo version of the digital som, simulating payments, and conducting the first test work in a limited environment using the digital currency.
This initiative is seen as a significant step towards the adoption of digital currencies in Kyrgyzstan and will play a key role in shaping the future of digital payments in the country. Stay tuned for more updates on the development of the digital som in Kyrgyzstan.
