Georgia to Initiate a Pilot Program for Digital Currency
- Brandon Davis
- January 17, 2023
- Crypto, News
- 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.