In the coming months, Georgia’s central bank plans to issue a whitepaper outlining the notion of a national digital currency.
Georgia will initiate a digital Lari pilot program during the first half of 2023. The project’s goal is to digitize and simplify the use of the nation’s currency.
Furthermore, it will lower the price of printing paper money, which probably involves several stages and ensures a faster and more secure exchange of funds.
Commercial banks and intermediaries, however, will not use the upcoming digital Lari pilot. This project is expected to have a favorable effect on Georgia’s economy.
Many countries, including Australia, Thailand, Brazil, India, South Korea, Russia, and the United States, are adopting the digital currency.
