Digital Lari

Link to announcement: web.archive.org

DLT / non-DLT: DLT

Structure: Account/Token → Token

Technology Provider: AUGENTIC, Bitt, Broxus, Currency Network, DCM Corp, eCurrency Mint, FARI Solutions, Ripple, and Sovereign Wallet (MetaMUI) → Ripple

Link to announcement: nbg.gov.ge

Research → Proof of concept

Main motivation/goals of the CBDC: To explore the potential of technology as a means to introduce the innovative platform and business models supported with subsequent technology instruments that can play a positive role in Georgia's landscape of payments, macroeconomics, and the financial system supporting the NBG's policy goal to strengthen the reliance on national currency (GEL) as well as stimulating the growth of the local fintech industry and digital economy. → The introduction of a digital Lari has the capability to produce a considerable impact on current monetary policy and payment systems, while also spurring the growth of financial technologies and innovative financial products and services. Nevertheless, it is crucial to take into account the potential hazards linked with the launch of a digital currency. In order to mitigate these risks, NBG intends to commence a restricted-access live pilot of the Digital Lari.

Link to announcement: nbg.gov.ge

Technology Provider: AUGENTIC, Bitt, Broxus, Currency Network, DCM Corp, eCurrency Mint, FARI Solutions, Ripple, and Sovereign Wallet (MetaMUI)

Link to announcement: nbg.gov.ge

None → Research

Announcement Year: 2022

Retail/Wholesale: Retail

Structure: Account/Token

Main motivation/goals of the CBDC: To explore the potential of technology as a means to introduce the innovative platform and business models supported with subsequent technology instruments that can play a positive role in Georgia's landscape of payments, macroeconomics, and the financial system supporting the NBG's policy goal to strengthen the reliance on national currency (GEL) as well as stimulating the growth of the local fintech industry and digital economy.

Link to announcement: www.nbg.gov.gewww.coindesk.com

Country / Region: Georgia

Central Bank(s): National Bank of Georgia