The second phase of the Kazakhstan central bank digital currency pilot focused on control of its many potential uses.
Kazakhstan has launched a pilot project to use its digital tenge central bank digital currency (CBDC) to pay for construction on a rail line to China. The project uses “marked,” or programmable, digital tenge to see that allocated funds reach the intended recipients at the right time.
The new project marks the beginning of the second phase of introduction of the CBDC. It will ensure transparency, targeted use, and efficiency, the National Bank of Kazakhstan (NBK) said in a statement.
Marking was implemented throughout the supply chain using “the existing interfaces of market participants in the usual format.” The money was disbursed on completion of the work:
